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

 

Take Control of Your Future

How to Drive Superior Results By Serving Others

A Bold Ambition to Serve

Do you love the people you’ve decided to serve?

It has been my privilege and passion to speak about servant leadership in forums all over the world. My free e-book on Leading With Others In Mind has been downloaded thousands of times around the world.

Not too long ago, I read a compelling new book on the topic, Dare to Serve: How to Drive Superior Results by Serving Others. The author is not just an author, but the CEO of Popeyes Louisiana Kitchen, Inc., a multibillion-dollar global chain. Prior to Popeyes, she held leadership positions at Yum! Brands, Domino’s Pizza, RJR Nabisco, the Gillette Company, and P&G.

Back to the opening question: Do you love the people you’ve decided to serve?

Cheryl asks that tough question in this book and goes on to explain why the answer is key to delivering superior results.

 

“Most of us…have jobs that are too small for our spirits.” –Studs Terkel

 

Fired! How a Humbling Event Changed Everything

Cheryl, your book, Dare to Serve: How to Drive Superior Results by Serving Others, starts out with a humble account of you getting fired. That seems to have been a turning point for you personally and professionally. How did this contribute to your beliefs?

Thankfully there have been several humbling events in my life – events that reminded me that I am not in control, I am not God. I have found the trials in my life, like facing breast cancer or getting fired from KFC, were the events that led me to new insights and personal growth. They have made me a better person and a better leader.

Losing my job made me question my leadership and business capability. This crisis of confidence led me to a ruthless review of my wiring, my strengths, my values and my experiences. In that process, I gained conviction about who I was and importantly, what kind of leader I wanted to be. When I came to the Popeyes opportunity, I was refreshed and ready to lead out of these convictions.

 

“You prove what you measure.” –Popeyes Mantra

 

Cheryl Bachelder, Used by Permission Cheryl Bachelder, Used by Permission

The Benefits of Daring to Serve

Would you share some of the benefits leaders receive if they adopt the Dare to Serve leadership model?

The benefits are many. Leading this way has been the most exciting, challenging, and rewarding experience of my career. And I think the Leadership Team at Popeyes would say the same thing.

It has been incredibly challenging to transform the culture, the business, and the leaders simultaneously. Chasing the bold goals sets the bar high – which leads us to be more innovative – which leads us go assemble amazing people – which leads us to be tenacious and determined to get to the daring destination. We are better leaders because we are stretching and learning continuously.

The decision to serve our franchise owners well has focused us on a process of building alignment – to define the problem together and to solve together – and has built strong, productive relationships with our most important partners. Sometimes this feels slow or inefficient, but once aligned, it has enabled incredible speed to market.

And finally, the rewarding experience of bringing together a capable team – then nurturing and developing their leadership qualities. This is essential to performance in a fast growing company, but it is also important, purposeful work that can leave a legacy of future leaders.

 

“Personal purpose accelerates employee engagement and organizational performance.” -@CABachelder

 

Set Off to a Daring Destination