This week, we will focus on International Women’s Day on March 8th, a day that shouldn’t be necessary to highlight as everyone should be equal. However, there's still a need to support and advance women, delve into the reasons why men continue to dominate executive and board positions, and develop strategies to overcome the obstacles hindering women's progress in these areas.
It is a complex issue with even more complex answers, embracing opportunity, bias, cultural norms, and individual motivations.
The importance of women leaders in driving organizational success cannot be overstated. Research indicates that a more balanced gender composition among board directors and executives correlates with increased overall performance. However, despite awareness, the data highlights a persistent lack of meaningful progress in achieving gender diversity at the executive level.
A Harvard Business Review analysis reveals that men are 2.5 times more likely than women to hold executive positions within top leadership teams.
Based on our observations, it is evident that women leaders tend to undervalue their potential, demonstrate strong loyalty to their organization, and feel deeply connected to their workplace environment. These factors greatly influence their decision-making processes regarding their career paths.
It is crucial to prioritize the preparation of women for executive roles with greater dedication. Many organizations still lack sufficient structure to fairly prepare internal female candidates. There is a pressing need for organizations to increase investment in their female leaders.
Mikkel Birn, CEO at Birn+Partners, emphasizes that addressing this bias is a crucial next step.
“At Birn+Partners, we assist clients daily in achieving success by placing women in various executive roles within organizations. We have educated researchers and consultants who understand our high standards and uphold an unbiased recruitment process aligned with our commitment to diversity, equity, and inclusion. We offer career advisory programs for both internal and external candidates and have an unbiased recruitment process, ensuring the right candidate for the job position".
However, expanding the pool of female candidates is essential. To this end, Birn+Partners has undertaken various initiatives, including partnering with SelectionF, an organization dedicated to bridging the gap between talented businesswomen and modern organizations. SelectionF facilitates connections between skilled and experienced female candidates.
Closing the gender gap in top executive positions remains a primary concern for companies, also driven by stakeholders advocating for greater diversity in leadership.
As Mie Krog, partner at SelectionF, points out;
“We must bring in another chair for women. Bringing women onto the executive and board scene is not only about gender and competencies. It is predominantly about opening the door, the room, and the relations we share at executive levels. It is about respect for a different perspective. It is about curiosity for alternative points of view. It is about courage for being the one without the answers. It is about leaving the zero-sum game and adding another chair to the table because we trust in the value of more diverse perspectives”.
The journey towards gender equality in executive positions is ongoing. While International Women’s Day serves as a reminder of the progress we have made, it also highlights the work that still lies ahead. By recognizing the importance of diversity in leadership, addressing biases, and investing in the development of women leaders, organizations can create a more inclusive and successful future.
We continue to advocate for change, amplify diverse voices, and strive towards a world where everyone has an equal opportunity to lead and succeed.
Written by Birn+Partners, Headquarters.
