The number of women holding leadership positions in the workplace has
increased globally over the past 10 years. Yet few have made it to that coveted
top position of CEO. Consider these statistics from a recent Grant Thornton
study:
·
One third (33%)
of global businesses had no women in senior management roles, a number which
has not changed since 2011.
·
At this rate of
change, women will not reach parity with men until 2060.
Why is that? The answer, as suggested by a LinkedIn
report – Moving the Needle for Women
Leaders – may surprise you: Timing and Mindset.
Timing
Apparently, the window of opportunity for women to
be promoted into leadership is much shorter than that of men. In fact, after
about 10 years into her career, the more experience a woman has the less likely
she is to become a leader. The report data shows that “the sweet spot for women
taking on a leadership role is somewhere between 10 and 15 years of being in
the workforce.” Men, on the other hand, have 20 or 30 years to strive for
leadership roles. So, is it employer
bias or personal choice that creates the timing barrier? The report authors
aren’t sure, but point out that “it brings to light a glaring gap in our
ability to nurture, develop and actively focus on female leadership.”
Clearly that focus needs to start early.
Mindset
LinkedIn looked at the top attributes of female
leaders today (based on the most common skills in LinkedIn profiles) and found
that women are noted for their management, leadership and strategic planning
skills above all else. Yet for some reason it seems that many women lack
confidence in these skills. Women are 31% “more likely than men to question
whether they have what it takes to advance in a leadership position.” It seems this “mindset deficit” is already
there when women enter the workforce, and continues into mid-career. Here’s how
women and men compare in three key leadership mindsets – aspiration,
confidence, and endurance.
At entry-level
·
65% of women aspire to reach a top leadership
position compared to 72% of men
·
63% of women are confident they can get there,
while 75% of men feel that way
·
62% of women say they have the endurance needed to get to the top, while 70% of men claim it
At mid-career
·
55% of women show aspiration, compared to 64% of
men
·
57% of women demonstrate confidence, compared to
66% of men
·
68% of women show endurance, compared to 77% of
men
This report shows that while some strides have been
made in leadership roles for women, females remain highly underrepresented in
technical careers and in the C-suite. Organizations need to acknowledge that promoting
more women to top leadership roles is good for business. In fact, companies
with more women throughout
the corporate structure are more profitable, and companies with female CEOs
record better stock market returns.
Organizations also need to provide women with the
training, coaching and opportunities to achieve the right mindset to become top
leaders.
At Lumina, we are already addressing this need
through a new Women’s Leadership Series – Step Up to Stand Out, that I’ll be
facilitating starting next month. This powerful leadership series is designed
by women for women to help them develop the passion, courage and determination
to get where they want to be. Step Up to Stand Out focuses on the unique
experiences of women to develop the critical skills necessary for success in
business and in life. It will help you reframe any limiting beliefs and overcome
your fears. As a result, you will develop the ability to flexibly adapt to,
engage and influence others through effective communication, savvy behavior,
and emotional agility.
Our first session of this highly-interactive
program starts in January in Boston. It will include three 2-day sessions held
between January and April, the Lumina Spark and Lumina Emotion assessments, and
peer coaching assignments.
You can find more information and register here.
