Invest in Your Business by Investing in Your People

Published in Women's Health on November 01, 2022

Sara Laures

By Sara Laures, Chief People Officer, VGM

Without doubt, your company’s most valuable asset is your employees. Products, services, trademarks, and even your brand and reputation depend on your people. That’s why no business growth strategy is complete without considering the people your company depends on. But where do you start? 

At VGM, we decided to take a targeted approach to investing in our people, building a program that we could use as a reference for our future efforts. And because they represent two-thirds of our workforce, it made sense for us to invest in our women leaders.

Investing in Women Leaders

VGM launched its Women in Leadership (WIL) program in 2016 as strategic initiative to support, motivate, and empower aspiring women leaders across our company. Since its inception, we have invested in over 100 women leaders by way of educational and networking opportunities. Among the WIL alumni, only 10 have left VGM. Retention, anyone? 

Investing in Women Leadesr

Your investment in women leaders has never bee nmore important. The pandemic has taken a toll on all employees, but the data shows that females have been particularly hit. Recent studies by Deloitte and Women Lead Change surveyed thousands of women professionals across the world. Their findings are significant:

  • More than half of women are more stressed than a year ago, and 46% feel burned out.
  • Women in middle-management roles and younger adult women (25 years old and younger) are experiencing the highest burnout levels.
  • Women are unable to “switch off” from work, and many are concerned about their career advancement.
  • Work-family conflict continues to be a main concern for women.
  • Remote work is beneficial, but it can also create feelings of isolation, blurred boundaries, and coordination problems.
  • Flexibility and workplace support are factors that can increase employee retention and alleviate employee stress.
  • Female participation in the labor force has decreased.

Building Network

Equity in the Workplace

Building a women’s networking group can be a meaningful step toward gender equity in the workplace—and, more importantly, it’s good for business.

A Foundation for Growth

Our VGM WIL program has evolved through the years. Today, the program is led by a leadership committee, we have a formalized nomination process, and we sponsor meaningful curriculum for both existing participants and alumni. We’ve since used this structure to create other professional cohorts who can connect and grow together.

READ THE FULL ARTICLE HERE

VGM Playbook Business Planning and LeadershipThis article was originally featured in the VGM Playbook: Business Planning and Leadership. To read the full article and more like this, download your copy of the playbook today


TAGS

  1. essentially women
  2. leadership
  3. playbook
  4. vgm
  5. women's health

From Our Experts

Protecting Your Business With Viable and Sustainable Payer Contracts thumbnail Protecting Your Business With Viable and Sustainable Payer Contracts Read how to protect your durable medical equipment, prosthetic, orthotic, and supplies (DMEPOS) business by ensuring that you have payer contracts that have long-term viability, as this is one of the most important factors in determining whether your company ultimately succeeds or fails. Locking the Digital Door to Risk: Proactive IT and Website Security Strategies to Protect Your Business thumbnail Locking the Digital Door to Risk: Proactive IT and Website Security Strategies to Protect Your Business With the increasing number of cyber threats and data breaches, it's important to take the necessary steps to protect your business from these risks. The PHE Is Over: What's Next? thumbnail The PHE Is Over: What's Next? In today's episode of Industry Matters, Mandi Joyner, Senior Director of Marketing at VGM & Associates, talks with three of VGM's payer, billing, and reimbursement experts Ronda Buhrmester, Dan Fedor, and Craig Douglas about the end of the Public Health Emergency (PHE) and what that means for members. How to Navigate Supply Chain Issues thumbnail How to Navigate Supply Chain Issues The DMEPOS supply chain was significantly disrupted by the COVID-19 pandemic, and the industry is gradually making its way back to a more typical state. Nevertheless, certain procedures that were developed out of necessity during the pandemic's onset and peak have evolved into effective best practices. One of the most crucial lessons learned is the importance of close collaboration between providers and their trusted vendors, manufacturers, or distributors to ensure success. The State of DMEPOS: Where Does Our Industry Stand Now, and Where Are We Heading? thumbnail The State of DMEPOS: Where Does Our Industry Stand Now, and Where Are We Heading? Jeremy Stolz, President, VGM & Associates and VGM Fulfillment, outlines several areas of the DMEPOS industry to consider as part of your business' action plan for 2023. VGM & Associates Releases Latest Playbook on Safeguarding Your Future in DMEPOS thumbnail VGM & Associates Releases Latest Playbook on Safeguarding Your Future in DMEPOS VGM & Associates has released the second playbook of 2023, “VGM Playbook: Safeguarding Your Future in DMEPOS.” Essentially Women Announces Website Redesign thumbnail Essentially Women Announces Website Redesign Essentially Women (EW), a division of VGM & Associates, is excited to unveil their newly redesigned website, essentiallywomen.com. Overcoming Staffing Changes One Piece at a Time thumbnail Overcoming Staffing Changes One Piece at a Time VGM member Jim Lehan, Business Operations Director, Lehan Drugs Inc., describes how his business improved their staffing challenges through hiring and retention, automation, and outsourcing.