March is Women’s History month, a celebration of women’s contributions to history, culture and society. At Nautilus Labs, the contributions of women to our mission and vision are celebrated year round as we deeply believe in the value of diversity in the makeup of our crew. In fact, as we have scaled over the last 12+ months, we’ve made vast improvement in gender diversity at the leadership level, with 64% of our Senior Leadership Team identifying as female.
But why is this important? It’s important because we find strength in diversity:
- Diverse perspectives: Women bring different life experiences, perspectives, and skills to the table, which help us make more informed decisions and innovate in new ways.
- Improved performance: Research has shown that companies with diverse leadership teams, including women, tend to outperform those without such diversity. Diverse teams can better understand and meet the needs of a diverse customer base.
- Talent retention: Women in leadership positions can often better support other talented female employees who see opportunities for internal advancement and feel a sense of belonging in an inclusive work environment.
- Better decision-making: Women leaders are often more collaborative and empathetic, which leads to more inclusive decision-making and better outcomes for Nautilus.
- Improved corporate social responsibility: Companies with women in leadership positions are often more socially responsible and committed to creating positive social and environmental impact… like saving the world through a reduction in greenhouse gas emissions!
Operating at the intersection of the Maritime and Tech industries, Nautilus is leading by example by leading with women. Both industries have historically been male-dominated and as recently as 2021, SAFETY4SEA reported on data published by Spinnaker’s Maritime HR association, stating that only 5% of leadership roles across maritime are occupied by women. Similarly, in 2022, according to WomenTech Network, women only held about 25% of the leadership positions in tech. From our perspective, these statistics are unacceptable and we’d like to challenge the status quo with data.
Overall, research has shown that companies with more gender diversity in leadership positions tend to perform better financially, are more innovative, and have better corporate social responsibility records than those with less diversity. For example, a study by McKinsey & Company found that companies in the top quartile for gender diversity on executive teams were 25% more likely to outperform on profitability. Another study by the Peterson Institute for International Economics found that increasing the share of women in leadership positions from zero to 30% is associated with a 15% increase in profitability for a typical firm. These studies suggest that having more women in leadership positions can have positive effects on company performance.
In particular, these industries can take several steps to improve gender diversity at a leadership level:
- Create an inclusive culture: Companies in the shipping industry can create an inclusive workplace culture that supports diversity and gender equality. This includes promoting flexible working arrangements, addressing unconscious bias, and promoting work-life balance.
- Increase recruitment efforts: Companies can increase their efforts to recruit women for leadership positions. This can include working with universities and professional organizations to identify talented female candidates and providing equal opportunities for men and women to apply for leadership positions.
- Provide leadership development programs: Companies can provide leadership development programs that focus on developing women leaders. This can include training programs, mentorship programs, and networking opportunities.
- Address gender pay gaps: Companies can address gender pay gaps and ensure that women are paid equally for their work. This can help to attract and retain talented women employees and improve gender diversity at a leadership level.
- Set goals, measure and track progress: Companies can measure and track their progress in improving gender diversity at a leadership level. This can help to identify areas for improvement and ensure that diversity and inclusion initiatives are effective.
- Embrace diversity: Finally, companies can embrace diversity and recognize the benefits that gender diversity can bring to their organization. This includes creating policies that support diversity and inclusion and ensuring that all employees, regardless of their gender, have equal opportunities for career advancement.
Join us in celebrating women beyond Women’s History Month by taking action to improve gender diversity and inclusion in your workplace. You can make a difference by advocating for diversity and inclusion, promoting equal opportunities, supporting leadership development programs that focus on developing female leaders, and spending intentional time building a sense of belonging where you work. Together, we can create a more inclusive and equitable workplace for all.
Want to learn more? Don’t miss CEO Matt Heider speaking at the Financial Times Global Commodities Summit in Switzerland on March 22. Meet Matt and the team and schedule a virtual or in-person meeting today.