A new report by the British Psychological Society, BPS, claims women could progress further in their careers if they learned how to use their social capital to help them reach the top of the ranks.
The findings from the report were presented at the BPS’ Division of Occupational Psychology annual conference held in Nottingham. The data revealed women who held positions like CEO and Managing Director felt their ability to build, maintain and capitalise on their social abilities helped them get to where they are today.
A majority of the conference participants voiced their concerns over the general population of women lacking the ability to expand their network of contacts. While it may not be right, the “who you know and who knows you” kind of networking mindset is seemingly responsible for a large percentage of career progression. Limited access to certain social “platforms” could hinder a female’s ability to be promoted. These kinds of social capital tools, according to HR professionals, should be revered and not feared.
The report’s findings come on the heels of the recent Davies review, which set a target for FTSE 100 firms to have 33 percent female board members by 2020. The FTSE 100 have done an extraordinarily good job at integrating more women into their boardrooms, as since 2011, they have nearly doubled the amount of women on their boards.
Although we may be seeing more women in leadership roles, the pendulum is still not evenly set. A government consultation called Closing the Gender Pay Gap disclosed that many women in the UK earn approximately 29% less than their male counterparts. With more eyes on gender equality than ever before, Section 78 of the Equality Act 2010 is expected to come into force in Spring of this year. This will require employers with over 250 employees to publish information about the amounts they pay female and male staff.
While strides have certainly been made in gender equality in the workplace, the human resources industry collectively believes there is still a long way to go.
