Furthering Female Leadership
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APM London branch evening event - Furthering Female Leadership - 7 March 2019 - London
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Furthering Female Leadership
- 3. Who is Boyden? The Right Leadership. Worldwise. February 2019 Presented by: Guy Herbertson Principal & Global Co-Leader, Aerospace & Defense Boyden | United Kingdom
- 4. The Right Leadership. Worldwise. #DisruptTheNorm Female Leadership Who is Boyden? 4 Founded in 1946, today we are among the largest global executive search firms. We operate in more than 65 offices in over 40 countries. We created the business of international retained executive search over 70 years ago and today we continue to drive innovation in the industry that we created. We specialise providing leadership and talent advisory services for a diverse client base.
- 5. The Right Leadership. Worldwise. #DisruptTheNorm Female Leadership Practices & Sector Expertise 5 CEO & Board Services Human Resources: CHRO, HR Director Private Equity & Venture Capital Professional Services & Real Estate Interim Management Leadership & Talent Consulting Consumer & Retail Industrial Financial Services Healthcare & Life Sciences Technology & Telecoms Social Impact (NFP, Gov’t, Edu) Partners and teams come together to best serve the client based on the requirements of the role/job to be filled. Sectors Practices
- 6. The Right Leadership. Worldwise. 6 1 | Furthering Female Leadership Boyden identifies the blockers and enablers through an in-depth research study in collaboration with senior women across Europe
- 7. The Right Leadership. Worldwise. #DisruptTheNorm Female Leadership Diversity & Inclusion - #DisruptTheNorm 7 Realising our Vision o We identify the most qualified talent by searching and assessing without bias o We provide diverse shortlists, sometimes facilitated by including talent in our mapping that may be below the level at which we are searching, in order to include high performers that have been overlooked as a result of unconscious bias Research o Our approach is informed by our own research, such as our recent Furthering Female Leadership Report which examines the obstacles faced by female executives, and how organisations can increase female leadership and reap the benefits
- 8. The Right Leadership. Worldwise. #DisruptTheNorm Female Leadership Why Increase Female Leadership? 8 The future is being redefined. Only diverse organisations will succeed. Female leaders are just one element in achieving future growth, new ways of thinking, new ways of working and new paths to success – and a vital one • Over 85 percent of CEOs whose companies have a formal diversity and inclusion strategy say it improved their bottom line, while enhancing innovation, collaboration, customer satisfaction and talent attraction.1 • A 10-year analysis of 300 U.S. start-up investments found that companies with a female founder performed 63 percent better than those with all-male founding teams.2 • Among Fortune’s Most Admired Companies, those with more female leaders have been shown to be more creative and have higher status in Fortune’s index.³ • ‘Women beget women’. The more visible women are, the more others aspire to leadership; 29 percent of board positions are held by women in companies with a female CEO3 versus 15 percent overall.4 1, 3 PwC’s 18th Global CEO Survey | ²Venture Capitalists First Round Capital | 3 PwC’s 18th Global CEO Survey | 4 Deloitte Women in the Boardroom
- 9. The Right Leadership. Worldwise. #DisruptTheNorm Female Leadership Our Research on Female Leadership in Europe 9 An in-depth study based on 800 hours of face-to-face conversation on the barriers, enablers and solutions for increasing female leadership.
- 10. The Right Leadership. Worldwise. #DisruptTheNorm Female Leadership Boyden’s Latest Articles and Insights: Diversity & Inclusion
- 11. The Right Leadership. Worldwise. #DisruptTheNorm Female Leadership Organisational Culture is Still in the Dark Ages 11 Boyden Survey - Executive Summary 1 Career obstacles reveal an inhospitable environment at work and difficult social mores outside work. The top three obstacles to a leadership career are embedded in organisational DNA: • Male dominated environment • Old school management • Overt female discrimination The social environment makes combining work and family difficult across Europe: • 57% of respondents reported family and children as a career (challenge) - Family 28%; children 29%
- 12. The Right Leadership. Worldwise. #DisruptTheNorm Female Leadership Organisational Culture is Still in the Dark Ages 12 Boyden Survey - Executive Summary 1 Career obstacles reveal an inhospitable environment at work and difficult social mores outside work. The ability to pursue an executive role part-time is seen as not possible for: • 82% in the Nordic region • 58% in the United Kingdom • 43% in Southern Europe What to look for in a company and what are Boyden doing? • Business leaders making cultural change • 40% in German-speaking Europe • Committed diversity & inclusion leaders
- 13. The Right Leadership. Worldwise. #DisruptTheNorm Female Leadership A Supportive Boss and Work Environment are Key Success Factors 13 Boyden Survey - Executive Summary 2 The right boss is ‘make or break.’ Make it organisational and not personal. Female leaders who are succeeding, point to a supportive boss and work environment: • It’s hard to ‘make your own luck’ – the advice is to ‘choose the right boss’ • Enlightened bosses actively encourage women to pursue further business studies and push for promotion • More visible female executives encourages other women
- 14. The Right Leadership. Worldwise. #DisruptTheNorm Female Leadership A Supportive Boss and Work Environment are Key Success Factors 14 Boyden Survey - Executive Summary 2 The right boss is ‘make or break.’ Make it organisational and not personal. A woman’s partner is also key to her success: • 36% report their life partner as a key consideration in their career • 23% have persuaded their life partner to move abroad to pursue their career • Some male partners are acting as mentors to help with politics in a male dominated environment
- 15. The Right Leadership. Worldwise. #DisruptTheNorm Female Leadership A Supportive Boss and Work Environment are Key Success Factors 15 Boyden Survey - Executive Summary 2 The right boss is ‘make or break.’ Make it organisational and not personal. What to look for in a company and what are Boyden doing? • Equality, diversity & inclusion key performance indicators • An appointed EDI leader or embedded EDI in a functional role, published EDI statistics and performance linked to EDI data
- 16. The Right Leadership. Worldwise. #DisruptTheNorm Female Leadership What Benefits the Individual, Benefits the Organisation 16 Boyden Survey - Executive Summary 3 Access to top management roles is too narrow. Across Europe, access to top management roles is exacerbated by male dominated corporate environments, and therefore restricted by male networks and word of mouth. Access is seen as more difficult for women for: • 86% in Southern Europe • 75% in the Nordic region • 63% in German-speaking Europe • 38.5% in the UK. A further 38.5% say it is easier
- 17. The Right Leadership. Worldwise. #DisruptTheNorm Female Leadership What Benefits the Individual, Benefits the Organisation 17 Boyden Survey - Executive Summary 3 Access to top management roles is too narrow. Consensus: Networking and mentoring goes further than the individual to organisational success: • Networking makes women better known for word of mouth recommendations on the best talent • Female networks are helpful, as well as opening up male networks to women • Mentors advise women on navigating hierarchies and organisational politics • Mentors advise men on accessing, evaluating and leveraging female talent
- 18. The Right Leadership. Worldwise. #DisruptTheNorm Female Leadership What Benefits the Individual, Benefits the Organisation 18 Boyden Survey - Executive Summary 3 Access to top management roles is too narrow. What to look for in a company and what are Boyden doing? • Implementation of formal networks and mentoring programmes to deepen the talent pool • Diversity has been made an on-going conversation as part of the culture of the organisation
- 19. Women as Leaders A Personal Perspective
- 20. Who are The GSMA?
- 22. THE DOUBLE BIND
- 23. BE AUTHENTIC
- 25. OWN IT BE BOLD
- 26. ChallengesHow progressed Enablers Kelly Jones – New Potential Ltd
- 27. The Right Leadership. Worldwise. Business case repeatedly proven A truly diverse workforce has many benefits: • perspectives, ideas, skills and experience • employee engagement and business performance D&I landscape continues to evolve, increased focus on listed companies: • Scrutiny now on FTSE 350 companies – Hampton Alexander Business performance imperative: • McKinsey (and other) global research 27
- 28. The Right Leadership. Worldwise. 8 March 2019Presentation Title Goes Here 28 You can have as many diversity initiatives as you like and recruit lots of diverse candidates, but without a truly inclusive culture, none of it sticks’ Brenda Trenowden, Global Chair, 30% Club
- 29. My observations over time Female role models Access to networks Awareness and training Mentors and SPONSORS 29 o Not all are ‘good’ o Female only groups… o Positioning o Male/ female Greatest impact: • Customer/ client demand • Positive examples • Organisational ‘permission’ to change • Awareness – 80/20 rule • Look for and take up opportunities!
- 30. The Right Leadership. Worldwise. 30 2 | Panel and Q&A
- 31. The Right Leadership. Worldwise. #DisruptTheNorm Female Leadership 31 For more information, follow us www.boyden.com | www.boyden.uk.com www.linkedin.com/company/boyden www.twitter.com/boydensearch Boyden 5th Floor | 10 Philpot Lane | London EC3M 8AA United Kingdom T +44 20 3651 6993
Editor's Notes
- When I was asked to do this presentation I asked myself what do I know about women in leadership…doubted that anyone would be interested in what I had to say I then realized I’ve been in management positions for the last 20 years and have worked in organizations from the Foreign Office to management consulting. I can do this but it took me moment to catch myself before going to my default position. Was just me I wondered. I was reading the Stylist – I am human and I realized that like Emma Willis here I didn’t have the sense of entitlement to be here that so many of my male colleagues have. Men somehow don’t have to balance being a man and being a leader like we do – I wonder how many Men & Leadership conferences there are?!
- This is something that Harvard have identified Women face a challenge conforming to female stereotypes and being leaders at the same time We are expected to be demanding of our staff show caring and sensitivity We are expected to lead yet be participative Focus on our career and and also nurture others Be leading yet approachable Please don’t get me wrong I’m not advocating that we need to return to the bad old days of power dressing and behaving like men to get on – I am acknowledging that it is hard sometimes to be both And I was wondering how can we as women reconcile this position?
- One of the most important elements for me is being authentic. I’m not a power dressing, go getter, who works a room to find my next promotion – that’s not to say if you are there’s anything wrong with that. But it’s not me. It’s important to recognize your strengths Be genuine – if you’re faking it you won’t feel comfortable and neither will the people around you If you want to take time out for whatever reason it’s fine
- I think this is something women are very good at and comes naturally to a lot of us. It used to fill me with horror the thought of going to a networking event to collect business cards. But meeting and talking to people who at some point our paths may cross, finding common ground, helping each other out, looking out for opportunities to work together that feels a lot more authentic and something I’d be happy to do. One thing I would add here is that throughout my career I have been by and large with a few exceptions very lucky with the people I have worked for – all men by the way – who have been supportive, egalitarian and recognized what I brought to the able – without gender being an issue. The other relationship I would say is important is the one you have with your organization as a whole. Working at the GSMA for 10 year I have seen a shift in programme management team – started out at approx. 80% men it’s now more like 60% women. My advice is choose your organizations and if the one you’re in isn’t right either change it if you can or move on.
- Which brings me to my last point – own it. Men, women alike we all have responsibility for our own careers and we must own that Know your goals and how you’re going to get there – when I was at the Foreign Office I for some biazarre reason know only to my 30 year old self decided I wanted to be a management consultant – I get an MBA and worked in the industry for a few years before deciding it’s now for me. Get recognized – I had a boss who once said to me I’m sure you’re doing good stuff I just don’t know what it is – I bored every Monday morning for a year with what I had on my to do list Ask for what you need to succeed – training, a new project, a career break. - whatever it is it yours to ask for.
- In the original research, using 2014 diversity data, McKinsey found that companies in the top quartile for gender diversity on their executive teams were 15 percent more likely to experience above-average profitability than companies in the fourth quartile. In the expanded 2017 data set this number rose to 21 percent and continued to be statistically significant. For ethnic and cultural diversity, the 2014 finding was a 35 percent likelihood of outperformance, comparable to the 2017 finding of a 33 percent likelihood of outperformance on EBIT margin; both were also statistically significant (Exhibit 1). We talking of a difference of 47% on return on equity between the companies with the most women on their executive committees and those with none, and a 55% difference in operating results. The research is based on a larger dataset of over 1,000 companies covering 12 countries and using two measures of financial performance – profitability (measured as average EBIT margin) and value creation (measured as economic profit margin). 2014 research was 346 companies, mainly UK and US McK hypotheses for what drives this correlation were: that more diverse companies are better able to attract top talent; to improve their customer orientation, employee satisfaction, and decision-making; and to secure their license to operate.