Why Women Innovate:
3 Common Experiences that Create Remarkable Leaders
A significant body of research supports the idea that there’s a correlation between women leaders and innovation.
When women rise into senior leadership ranks, banks get better at innovating — and they perform better financially as a result.
This didn't surprise us. We've seen it play out within the membership of the Alloy Labs Alliance — a consortium of innovative banks that are led by women CEOs at twice the rate of the companies in the Fortune 500.
But we wanted to know why this correlation exists. What factors influence women's propensity to lead through innovation? And what can we learn from those conditions to propagate similar results throughout an organization?
To find out, we interviewed the women leading some of the nation's most innovative banks. Those discussions revealed three major areas where women’s experiences differ significantly from their male counterparts in ways that spur innovation: their career paths, life experiences, and need to rely on transformational leadership to combat bias.
These experiences are unique to women today. But the lessons leaders learn from them can be used to increase diversity on all fronts, making their institutions stronger and more equitable in the process.