evolutionary scheme of things, bringing home the bison demanded instant decisions about fight or flight. For women,who excel at gathering knowledge, encouraging input and weighing options, speed is thought to be less of a strong suit, and thereâs a cart of psychological baggage that comes with that concept. Making quick decisions increases the risk of making the wrong decision, and fear of risk and failure is notorious for keeping women in the workplace tethered to the status quo (another point Iâll be exploring later).
But thereâs also another dynamic at work, and itâs one of the more insidious forms of gender stereotyping in the workplace, whether you call it âthe double-bind,â implicit bias or, as it was dubbed in a 2014 Catalyst paper, âdamned or doomed.â All these terms describe the idea that a female leader compelled to make fast decisions can be caught in a no-win situation. If she doesnât act fast, she is seen as too soft to lead; if she does, sheâs viewed as unlikeable. Or, as Sylvia Ann Hewlett, co-director of the Womenâs Leadership Program at Columbia Business School, describes it in her recent book, Executive Presence, women are regarded as ineffective if they âcanât make up their mindsâ and as cold-hearted bitches when they do. Women, Hewlett argues, should at least âappear to be decisive.â That suggests itâs better to make the wrong decision than no decision at allâin other words, go brave or go home. Speed is the key.
I donât disagree. But in my view, this is where the digital age can serve women well. Now more than ever, agility and decisiveness have to be core strengths of leadership, and when women have so many characteristics essential for leading successful teams, we have to trust the way in which women tend to make decisions. We are inclined to be information gatherers, to seek input and do our homework.
Thereâs fascinating research, for instance, including a 2012 report from Barclays Wealth and Ledbury Research, that finds women are less likely than men to buy shares in companies they know little about, regardless of whether analysts dub it a âhot stock.â And that cautious research-before-investing approach results in women trading less often than menâand losing less than men. The Barclays study found that women investors are more likely than men to make money in the market; a seminal 2001 report from behavioural economists at the University of California found womenâs returns outpaced those of men by an average of 1.4 percent annually. Gathering information and inputâa ton of itâin order to make informed decisions fast has never been simpler. Knowledge of all kinds is a click away, whether itâs you or the team thatâs mining it.
Some may consider this research-style approach cautious, or even overly cautious. Others would say itâs smart. And today technology gives us the tools to gather information deeper and faster than ever before. So those informed decisions can come quicker than ever before. A 2013 study from researchers at McMaster Universityâs DeGroote School of Business surveyed six hundred board directors and found that how women make decisions makes them better corporate leaders. Companies with women on their boards are well known to outperform those who donât have female members, and the DeGroote paper found that womenâs collaborative, information-intensive approach is more likely to result in sound decisionsâeven if they are those that rock the boat. So when it comes to swift decisions, women need to be courageous, take a moment to draw upon all that theyâve learned, heard and seen, and then move forward.
After the months Iâd spent in conversation with people at the CBC, for example, what I had to do next was show them we could deliver. Nothing does more to galvanize a team than positive results. Which is why I