Female entrepreneurs can find opportunities for growth through mentoring and networking
There’s never been a better time to be a woman in business. This Women’s History Month, we are celebrating the explosion in the ways women have to connect with each other. A new crop of female-only social networking apps like Bumble Bizz, Ellevate Squads, the Cru and Chief promise to bring women together for professional networking and peer mentorship.
Their rise is a response to lingering workplace dynamics. While progress has been made to foster inclusion and representation, one in five women say they are often the only woman or one of the only women in the room. This is twice as common for senior-level women and women in technical roles. Mentorship remains a trailing indicator for progress. It’s no question that mentorship is an important part of career development, with benefits related to compensation, promotion, commitment and identity; however, only half of women have access to relatable mentors.
Peer mentorship has filled the gap in providing mentors women can relate to, especially as they advance in their careers, and has created fertile ground for female-only networking apps to grow. For example, women who stayed and succeeded in technology are twice as likely to credit female peer groups with their success as women who exited the industry.
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