The times they are a changing.
These famous Bob Dylan lyrics have been applied to war, civil rights and today, to the role of America’s businesswomen.
Although women make 23 percent less than men do, according to the U.S. Bureau of Labor Statistics (BLS), the changing face of women in today’s workforce is important to University of Denver’s future female graduates.
Daniels College of Business marketing professor Joan Winn said, “Today’s economy is very good for women. The workforce climate has undergone tremendous changes over the last 20 years.”
Indeed the outlook seems positive. The BLS states that the unemployment rate for women dropped from 5.2 percent in December to 4.7 percent in January, which is lower than the national unemployment rate for men, currently at 5.4 percent.
Even more appealing, many recent studies found that women are not only competing for the same jobs as men, they are actually outperforming their male counterparts.
Hayberg Consulting Group conducted several in-depth performance evaluations of senior managers. Of the 425 evaluated, women execs won higher ratings on 42 of the 52 skills measured.
Junior Stefanie Haynes said, “Women are definitely advancing. For example, there are more women in the military and in corporate positions than just a few years ago.”
The influx of the women in American business has forced men to re-evaluate their role as “breadwinners.”
MBA student Ben Edgson experienced the change first-hand a few years ago.
“My wife and I both worked in management. She did make more money than me, and for a while it was odd. However, I learned to accept it, and then it was great,” Edgson said.
Although Edgson is now the main provider in the family, he said that the narrowing economic gap between men and women is a wonderful thing.
“There shouldn’t be anything holding women back,” Edgson said.
In order for women to excel in their professions, they need to be ready and informed.
“Women should take as many courses in as many disciplines as you can to broaden your education, not just to fulfill credit-hour requirements,” said Winn.
This spring Winn will offer a study on the role of businesswomen. The class, “Women in the Workplace: Current Issues and Challenges,” will examine such issues as diversity and corporate culture, the balance between family and career and male and female colleagues.
Despite the encouraging statistics and reports, the playing field is still uneven.
According to the Federal Labor Department, women hold 45 percent of all managerial posts, but only two of the nation’s 500 biggest companies have women CEOs.
Twenty years ago the role of women in business was an equal opportunity issue. However, now that women make up 40 percent of the workforce, the concern has transcended to an equal wage issue.
As long as women make 23 cents less on the dollar than men, women will need to learn how to balance work and life, responsibilities and budgets.
Author Joan Perry said women need to learn everything about their finances, in order to have control over their lives. Her book, A Girl Needs Cash, simplifies the expectations and responsibilities of a woman’s budget. Perry advises women to spend less than they earn, cut up their credit cards and invest while paying down debt.
According to Winn, “The biggest issue that women have to deal with as they ascend the corporate ladder is how to incorporate personal time and family life. Women support families.
“Women need to practice interpersonal and leadership skills. Find your passions…Take charge of your life,” Winn said.
