There’s no denying the value of gender diversity—yet women, particularly in leadership roles, continue to face significant barriers. According to the Barely Breaking Ground report by the Canadian Chamber of Commerce’s Business Data Lab, gender parity in the workplace is still a long way off. In fact, at the current pace, women in Canada won’t reach equal representation in the workforce until 2129.
This issue is especially concerning for small and medium-sized businesses (SMBs) because the data also shows that when more women are in leadership positions, business performance improves. Despite this, women are leaving their companies at unprecedented rates, a trend McKinsey & Company identified in their 2022 report on “the great breakup.” With many women demanding more from their work environments, the message is clear: businesses need to step up and create spaces where women can thrive.
So, how can SMBs, with their unique ability to be flexible and community-focused, help reverse this trend and empower female leadership?
Why Are Women Leaving?
Before we look at solutions, it’s important to understand why women are exiting the workplace or holding back from leadership roles. Some of the most common reasons include:
Lack of growth opportunities: Women often feel stuck in positions where career advancement seems out of reach.
Being undervalued: Many women report that their ideas and contributions are overlooked or dismissed, especially compared to their male colleagues.
Double standards: There’s a consistent feeling among women that they need to work harder than men to achieve the same recognition or career progression.
Work-life balance struggles: The burden of juggling family responsibilities and professional aspirations often falls heavier on women, especially without supportive workplace policies.
These challenges are not only frustrating but are causing talented women to leave organizations or opt out of leadership tracks.
What SMBs Can Do to Turn the Tide
The good news is that SMBs are in an ideal position to implement changes quickly and meaningfully. Here’s how you can build an environment that encourages women to stay, grow, and lead:
1. Reevaluate Your Recruitment Practices
Attracting female talent starts with how you recruit. Many women are dissuaded from applying for roles due to biased language in job descriptions or narrow recruitment strategies that fail to reach diverse candidates.
Update job descriptions: Make sure your job postings are inclusive and focus on skills rather than “ideal” candidates that might reinforce stereotypes.
Expand your reach: Traditional job boards and networking events might not be enough. Tap into diverse communities, women’s professional groups, and other networks that specifically support underrepresented talent.
Train your hiring team: Equip your hiring managers with bias training to ensure that recruitment and hiring decisions are fair and objective.
2. Create a Culture of Inclusion
A welcoming and inclusive culture is one where women feel valued and have equal opportunities to advance. This needs to be more than just a stated goal—it should be a lived experience within your company.
Provide equal access to opportunities: Make sure women are included in important meetings, given high-visibility projects, and offered the same training and development as men.
Open communication channels: Create safe spaces for employees to voice concerns or share experiences without fear of retaliation. Leaders should actively listen and take steps to address issues head-on.
Be intentional about leadership: Make diversity a priority in your leadership teams. Ensure that women have opportunities to mentor, lead, and influence decisions at the highest levels.
3. Invest in Mentorship and Sponsorship
Mentorship is a key part of career development, but sponsorship takes it a step further. Mentors offer advice, while sponsors actively advocate for women’s career advancement by opening doors, recommending them for key roles, or providing visibility to senior leadership.
Formalize mentorship programs: Pair emerging female talent with senior leaders who can provide guidance, share valuable career insights, and help women navigate workplace challenges.
Encourage sponsorship: Leaders should take an active role in championing female employees, putting their names forward for promotions or strategic opportunities.
4. Offer Flexible, Family-Friendly Policies
Many women leave the workforce because they struggle to balance work and family responsibilities. Offering flexible work options shows that your organization understands this challenge and is committed to supporting all employees, regardless of gender.
Flexible work arrangements: Remote work, flexible hours, or part-time options can make a significant difference for women balancing caregiving responsibilities with career aspirations.
Paid parental leave: Providing both maternity and paternity leave ensures that caregiving is shared and that women aren’t penalized for family responsibilities.
Career re-entry programs: Create pathways for women to re-enter the workforce after taking time off for family reasons, ensuring they feel supported and valued.
5. Track Progress and Be Accountable
For any initiative to work, it needs to be measured. Set clear diversity and inclusion goals, track the number of women in leadership positions, and regularly review your company’s gender balance across all levels.
Measure and report: Regularly evaluate the effectiveness of your diversity efforts. Are women being promoted at the same rates as men? Are pay and recognition equitable across genders?
Hold leadership accountable: Ensure that gender equality is not just an HR issue but a leadership priority. Leaders should be held responsible for creating an inclusive environment and championing female leadership.
Moving Forward: Empowering Women Today, Not Tomorrow
It’s no longer enough for businesses to passively wait for change—action is required, and small and medium-sized businesses have the flexibility to lead the way. Women are leaving companies because they’re demanding better, more inclusive work environments. They want to be valued, heard, and provided with the same opportunities to grow as their male counterparts.
By taking intentional steps—revamping recruitment, fostering inclusion, supporting work-life balance, and investing in mentorship—SMBs can create a culture where women not only stay but thrive. Empowering female leadership is not just about fairness—it’s about building a stronger, more innovative business.
Change may take time, but it doesn’t need to take until 2129. By acting today, you can ensure that your company is a place where women are empowered to lead and succeed. Let’s start closing the gap now—together.
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