If there’s one constant across industries today, it’s rapid transformation. From shifting workforce demographics to evolving workplace norms — including where work happens and whose voices are amplified — change is everywhere. The growing influence of AI is further accelerating this shift, while perceptions around the value of diverse leadership and varied perspectives continue to evolve.

Amid all this change, however, one important truth often gets overlooked: organizations thrive when they embrace a wide range of viewpoints shaped by different backgrounds and experiences. Studies consistently show that women leaders bring distinctive strengths to the table — from bold, forward-thinking decision-making to fostering collaboration, managing change, and nurturing relationships. As International Women’s Day approaches on March 8th, the world can see that progress is happening — but it’s still unfolding at a frustratingly slow pace.

Women are making strides in closing some gender gaps, but overall progress remains sluggish. According to research from the Bank of America Institute, the gender pay gap has narrowed in recent years, with women earning approximately 84 cents for every dollar earned by men among full-time workers. The study also highlighted that women are playing a significant role in expanding the U.S. workforce — labor force participation among prime-age women (ages 25-54) increased at double the rate of their male counterparts last year.

However, despite these advances, the Global Gender Gap Report 2024 from the World Economic Forum paints a sobering picture: at the current pace, true gender equality may not be achieved until 2158. This concerning projection serves as a stark reminder of why the theme for this year’s International Women’s Day, Accelerate Action, calls for urgent and decisive efforts to speed up progress toward lasting gender equality.

Women leaders are making a clear and measurable difference within their organizations. The International Women’s Day movement continues to emphasize the importance of businesses actively working to attract, support, and retain diverse leadership talent. This includes ensuring women leaders have access to valuable resources such as training, mentorship programs, and strong allies within the organization.

One critical step all leaders can take is recognizing the significant contributions women make in helping companies tackle increasingly complex challenges. Research supports this: a review of 10-year returns from S&P 500 companies between 2014 and 2022 showed that companies led by women outperformed those led by men. Additionally, a Bryant University study analyzing companies with high debt levels found that organizations with female CFOs reduced their sales growth losses by an average of 4.3%, demonstrating how women in leadership help stabilize businesses under financial pressure.