Neela Seenandan serves as co-managing partner of Hanold Associates, an executive search firm that focuses on executive human resource professionals. Executives like Neela Seenandan understand the importance of hiring and developing diverse business leaders in order to maximize a company’s potential for success. Recently, business journals such as Forbes and the Wall Street Journal have raised discussions around the benefits of developing female leaders in the workplace.
Among Fortune 500 companies, a study by the workplace development organization Catalyst revealed that those with the highest percentage of female executives experienced the greatest financial gain. Additionally, surveys previously published in the Harvard Business Review show that female executives have a highly rated competency for developing not only the abilities of other employees but also their own professional talents.
In order to recruit and retain female executives, business leaders can focus on investing in the talent development of existing female employees within the company, especially those who prove themselves in middle management. Additionally, actively promoting diversity in leadership as necessary to success encourages other employees to accept it as a beneficial component of making a company more profitable.