How to Recruit, Retain, and Advance Remarkable Women

women leadership

Gender Equality

Not too long ago, I read a new book on gender equality in the workplace. I’ve read many of these types of books but this one was from a different perspective. Rania Anderson’s company, The Way WoMen Work, is specifically geared toward helping male business leaders obtain the skills and perspectives needed to intentionally advance women.

Rania realized long ago that many men want to support women at work but don’t know the best way to do so.

In her new book, WE: Men, Women, and the Decisive Formula for Winning at Work, Rania not only explains the benefits of recruiting, retaining, and advancing high-caliber women, but she also provides hands-on advice on how to do it.

 

Ernst and Young Study: Over 50 percent of leaders said they need to do more to attract, retain, and promote women to leadership positions.

 

A Surprising Question

In your book, you mention that, while at companies working with women, men were often stopping you to ask for help. Many men want to know how to work more effectively with women. Given the many years of focus on diversity, did this surprise you?

It did. After I was approached a few times, I recognized that many men are ready to transform their workplaces and the way they work and lead with women.

Some are motivated by talent shortages. Others are under pressure to innovate and understand the changing needs of consumers, many of whom are women. They recognize that they cannot win by continuing to rely on half the talent pool.

Yet others want to have flexibility in their work environment and recognize that the changes that women want in the workplace would also benefit them.

The motivations of the men that spoke to me were varied, but what they were asking for was the same – to no longer be left out of the conversation and to be invited to be part of the solution.

 

“Just as companies measure return on equity, there’s also a demonstrated return on equality.” -Rania Anderson

 

The Benefits of Gender Diversity

How Women in Leadership Can Create Win-Wins

Creating Win-Wins for Companies and Women

In many companies, women are not advancing. This is despite the extensive research showing that more women in leadership positions equals higher company profits and a more competitive organization. At each level of an organization, women dwindle in numbers, leading to a lack of gender balance on top leadership teams.

 

If women make up less than 25% of an applicant pool, they are more likely to be negatively evaluated.

 

As a CEO who advocates and appreciates diversity, a new book by Joelle K. Jay and Howard Morgan intrigued me. The New Advantage: How Women in Leadership Can Create Win-Wins for Their Companies and Themselves doesn’t just talk about the challenge but also provides women ideas and tools to advance. Their research is based on interviews with hundreds of senior executives.

I recently spoke with the authors about their work in creating win-win situations for companies and women.

 

“Executive presence is the degree to which others perceive you to be a leader.” –Morgan & Jay

 

Howard J. Morgan and Joelle K. Jay, PhD, of the Leadership Research Institute (LRI) are co-authors of THE NEW ADVANTAGE:  How Women in Leadership Can Create Win-Wins for Their Companies and Themselves (Praeger / 2016).  LRI is a global consulting firm specializing in leadership and organizational development.  Morgan has worked with over 1,000 CEO and executive team members of the world’s largest organizations on improving corporate and executive performance.  Jay is an executive coach and keynote speaker and specializes in the advancement of executive women.

 

The Unique Problems Women Face in Leaders

What are some of the problems women uniquely face in the workforce?

We have worked with some of the largest organizations in the world. Based on our experience, and several major reports, companies with the highest representation of women in senior management positions are shown to perform the best. Research reports that companies with more women:

  • Are more profitable (18-69%)
  • Are more competitive (25%)
  • Are more effective because they demographically reflect the market (83%).

In balanced leadership teams of men and women, women tend to bring fresh perspectives and ideas, talent and experience, and that leads to better decision-making.

The problem is despite all of those advantages, we found they are persistently underrepresented in senior levels of leadership. Women currently hold only 4.0% of CEO positions at S&P 500 companies, according to the Catalyst research organization Catalyst.

 

Research: Companies with women are up to 69% more profitable.

 

Companies Benefit When Women Are in Leadership

What are some of the advantages companies experience when more women are represented in leadership? 

Companies that attract and develop executive women gain amazing benefits related to profitability, productivity and performance. Some areas include increased revenues, greater innovation, increased employee engagement, higher productivity, better financial performance, global competitive advantage, and stronger leadership.

Companies benefit from the increased financial performance associated with a balanced leadership team, beating their competition by up to a third.

 

Research: Companies with a balanced leadership team beat the competition by up to a third.

 

What barriers do women face today?

The New AdvantageThe women we’ve spoken with and worked with report a wide range of issues. Perhaps the biggest barrier is a lack of awareness on the part of their companies about what stops women from advancing and how to increase the number of women in senior level and executive leadership positions.

There are a number of obstacles that have prevented the integration of women into the highest levels of leadership. First, change takes time. Second, few role models exist for women at the top. Third, we are still learning about the barriers that prevent women from breaking into C-level leadership. Two of the biggest breakthroughs in recent research for the advancement of women to leadership positions are executive presence and sponsorship. These have only become prevalent topics of research in recent years. And in reality, until recently the business culture has evolved around a predominance of men as leaders, and characteristics associated with successful leadership are still aligned with more masculine traits.

 

“Women who want to succeed to higher levels of leadership have to take the lead.” –Morgan & Jay

 

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