One of the constant goals of companies is finding the magic formula that will help set themselves apart from competitors, yet they continue to flock to the same old practices that have been used time and time again.

So what is the secret to creating a company that exudes innovation and leadership? According to Karen Greenbaum, CEO of the Association of Executive Search and Leadership Consultants (AESC), it is offering a diverse workforce and more specifically, gender equality.

“There is a shortage of top talent around the world and yet half the population – women – are under-employed,” said Greenbaum. “Women only represent 39 percent of world employment, and only hold 27 percent of managerial positions in the world. This is one reason why the United Nations made gender equality #5 on its list of 17 Sustainable Development Goals for 2030.”

When looking at your own company culture, you should ensure that not only are you employing diverse people, but that they feel respected and connected to their colleagues.

While unconscious bias is ingrained in most people, being able to be self-aware of these biases and making sure they are not barriers to selecting the right leaders is vital to creating an inclusive work environment. 

For example, studies have shown that male candidates are usually given the benefit of the doubt that they will be able to grow into positions, while women are seen as “risky” hires.

Additionally, offering flexible work options for working mothers can provide organizations with the perfect formula of retaining top talent and truly set themselves apart from the competition.