Women play a significant role in the success of a workplace or a business and have made great strides in the industry. However, there is still a lot of work to be done to guarantee the support and equality that they need.
The female labor force participation rate in the Philippines was 45.96% in 2022. Hence, the Philippine Development Plan (PDP) 2023-2028 aims to increase it to 52-54% in 2028, by providing them more opportunities and addressing the gender bias and gender stereotypes associated with women.
You have an obligation as a business owner to protect their rights at work. This entails paying them equally, providing a harassment- and discrimination-free workplace, presenting opportunities for career advancement without any prejudice based on gender, and establishing an equitable and welcoming work environment that can help your business maintain long-term success and sustainability.
In this blog, we will talk about the ways how you can support women who work for the success of your business through business loans. Let’s start!
Importance of Women in the Workplace
Having women in the workplace is important. Their diverse backgrounds and skill sets add appeal and creativity to the workplace. You can receive a greater spectrum of talents and ideas when women are on the team, which improves the business as a whole. In addition, women in leadership positions create a healthy balance and foster a more welcoming and inclusive work environment.
Moreover, having women in the workforce is a wise decision for the entire business sector; it’s not only about fairness. Everyone can more easily pursue their desired occupations since it helps dispel misconceptions. Employers are more inclusive and varied when women have the same opportunities as men. Doing this is not just a kind gesture but also the right course of action that advances and strengthens your business.
8 Methods to Support Women in the Workplace
Here are some ways to support your women employees with business loans:
Promote Flexible Working Arrangements
Women often have to juggle multiple roles, such as caring for children and having the need to work to sustain their families, which makes it difficult for them to fully commit to full-time working hours.
What you can do as a business owner or as their leader is to provide a flexible working arrangement for them to allow them to balance work and their family responsibilities. You can use a business loan to finance your initiative by allowing them to work on a flexible schedule or a work-from-home arrangement, then guaranteeing that they have the necessary equipment they can use for work.
Invest in Employee’s Professional Development
Investing in employee’s professional development is another way you can empower women. You can use a business loan to fund training and mentorship opportunities to help your women employees advance their careers.
Provide Affordable Childcare
Many women are reluctant to work after having a baby because they cannot afford childcare, which can hinder the growth in their career development, and can become a major barrier to equality in the workplace.
As a business owner, you can help by providing affordable childcare options for your employees. You can use a business loan to establish on-site daycare or use it for subsidies for off-site child care. Through this, it will be easier for your women employees to afford child care.
Advocate for Gender Equality
Another way to support your female employees is by advocating equality in the workplace. But, it should not just stay as that, as the business owner, you should speak out against discrimination and support policies that promote fairness for all. Furthermore, you can also host events or participate in campaigns to raise awareness with business loans.
Equal Pay
Ensuring that everyone who works for you, regardless of their gender were paid equally for equivalent work is the corner tone of achieving equality in the workplace.
Ensuring equal pay for equivalent work is a cornerstone of achieving gender equality in the workplace. It is imperative that you carry out frequent pay equity audits in order to maintain this principle. The purpose of these audits is to identify any gender-based wage inequalities by closely examining salary data.
Provide Mentorship and Sponsorship Programs
You can also use business loan as additional source of funding for your mentorship and sponsorship programs meant to uplift the careers of your female employees.
Recognize Employee’s Achievements
To advocate for the wellbeing of your women employees, you must never forget to recognize their contributions. It can come in various forms, such as awards, promotions, or dedicated recognition programs highlighting women’s achievements.
Be Consistent With Your Support
Your support of women in the workplace shouldn’t start and end with Women’s History Month or only when it’s convenient for you. It should be your mission as a business owner to ensure under your leadership receive the recognition regardless of their sex.
Business loans can play a significant role in providing the support your women employees need. Whether is is for their career development or just recognizing their significant contribution in your workplace, you can use business loans as an additional source of funding.
Honor Thy Women with Vidalia Business Loans
Supporting women in the workplace is not just a moral imperative but a strategic move that enhances the overall success and sustainability of your business. By utilizing business loans effectively, you can contribute to creating an inclusive, diverse, and empowering work environment for your female employees, fostering a culture of equality and recognition.
If you are looking for a lending partner, Vidalia Lending Corp. is here for you. We are here to guide you on your journey of empowerment and growth. Contact us today!
