March 8th marks the commemoration of International Women’s Day! You may recall our spotlight of National Women’s Day back in September. FranSave acknowledges these occasions as part of our ongoing commitment to promoting women in business, especially in franchising, every day of the year.

Let’s explore some pressing issues concerning women in contemporary business settings.

Three Important Ways To Promote Inclusion in Your Business

Businesses that promote the growth and development of female leadership have a better chance at overall success. These three factors are very important in generating female inclusion.

• Meaningful Work 
• Growth Opportunities and leadership roles with support and flexibility
• A Sense of Belonging

It is encouraging that , many national and global companies  recognize the value that women bring to their businesses and continue to create opportunities for women at many levels to thrive in meaningful roles, doing work that really matters. Growth opportunities and promotions are important, especially with equal compensation, resources to achieve success, and flexibility because they motivate women to do their best. Franchising can present more of a “level-playing field”, which is one reason women own or co-own approximately 35% of all franchises in the U.S., a 24% increase over the past decade.

Other Challenges for Women in Business in 2022

We have new and unique challenges in the business environment in 2022. These affect virtually all employees but are perhaps even more germane to women in business.

• Heavy reliance on virtual meetings over face time.
• Greater potential for employee burnout and turnover.

Distance work has been a blessing for many women who can better manage the dual responsibilities of raising children alongside an active career. This has, however, come at the expense of face time in favor of virtual meetings. Since inclusion is so critical, finding ways to increase face time may become more important moving forward. It’s a bigger challenge to include all team members exclusively through virtual communication.

Employee burnout is a significant issue for the employees themselves as well as franchise business owners. Why? Because whenever you overwork any employee, you increase the chances they may leave their position, which will only mean more work on other team members, including more work for a franchise owner. Burnout can spread fast, and it's increasingly relevant in 2022 since many Americans are finding reasons to avoid working altogether.

These are just two of several issues that have a significant impact on women in the business environment. Prudent franchise leaders should watch for trends like these and continuously explore ways to address them.

FranSave hopes you join us in commemorating International Women’s Day on March 8th. Women-owned businesses employ more than 9 million people and comprise roughly $2 trillion in sales revenue. For those reasons and more, we continue to encourage the development of women entrepreneurs, particularly in franchise roles. If you’re an aspiring female business owner and want to learn more about franchising, contact us at any time at 844-476-7776.