Here’s why dedicated female forums matter
Over the last 50 years, the world has made significant strides towards female representation in business leadership.
As we celebrate Women’s History Month in 2024, we now see women every day across all industries breaking barriers, shattering glass ceilings and making their mark in decision-making positions. Yet, as of 2023, only 10.6% of Fortune 500 companies currently have a female CEO. There is still much work to be done to achieve true gender equality in business leadership.
This is where dedicated forums for women leaders come into play — providing a platform for women to lean on one another, discuss timely topics and drive change toward a more inclusive future. As the president of the local Florida chapter of the International Women’s Forum (IWF) and principal of LMA Consultants, a women-owned communications and consulting firm, I have witnessed the power of these forums firsthand.
IWF, which is celebrating its 50th anniversary this year, has been at the forefront of advancing women’s leadership and championing equality worldwide for decades. With over 8,000 accomplished women represented within its membership — inventors, entrepreneurs, CEOs, heads of state, academics, scientists, astronauts, athletes, artists, filmmakers, financiers, philanthropists — IWF is a prime example of why this model works.
In every industry, women face unique challenges as they climb the corporate ladder. Some obstacles are specific to our experience and navigating those can be daunting. Having a community of like-minded individuals who understand these challenges and can provide guidance and support is invaluable to keeping your momentum.
Forums like IWF offer a safe space for women leaders to share experiences, network and build lifelong relationships as they build one another up. They have personally given me the opportunity to meet incredible women who have taught me lessons and prepared me to navigate professional challenges.
Forums for women leaders are about more than just networking.
They are catalysts for change and vehicles for advancing gender equality in leadership positions. A key area where these forums have a significant impact is increasing female representation on corporate boards and other decision-making positions.
A 2023 study from Esgauge and The Conference Board reported that increasing the number of women represented on corporate boards significantly enhances overall diversity in the boardroom, which drives better business outcomes, fosters innovation and builds trust in board effectiveness. Female forums are making that happen by championing and supporting women toward board roles.
Moreover, forums play a crucial role in incentivizing the next generation of female leaders. Organizations like IWF often create pathways for young women to pursue their dreams and aspirations by offering scholarships and other professional development opportunities to rising stars. Fostering connections between established leaders and emerging talent is a critical step toward helping women reach their full potential and creating a stronger tomorrow of gender representation among leadership.
As we celebrate 50 years of IWF’s legacy, it is important to acknowledge the progress we have made and the challenges that still lie ahead. The fight for gender equality in leadership is ongoing and requires collective effort and collaboration from similar organizations. More access to these dedicated forums for women leaders will give critical platforms for collaboration, knowledge exchange and support that propel equity.
By elevating women’s voices, addressing their barriers and championing their achievements, we can create a future where leadership is representative of the diverse world we live in. Let us continue to build upon the progress made and work together towards a future where gender equality in leadership is a reality.
Lucy Morillo is the president of the Florida chapter of the International Women’s Forum. She is the principal of LMA Consultants, co-owner and publisher of S Revista, and business and Urban Air Mobility advisor.