Exploring Female Leadership: Obligation or Opportunity? A Female Leader’s Role in Growing Female Talent: Part 1
Why are we talking about this?
The deficit of women in leadership has been a hot topic for a long time now. Traditionally, we’ve asked how women break into the boys’ club? What do men need to do to create space for women in the leadership world? As more and more women break into this space and begin setting precedents, a new question arises; Now that there are more females in leadership roles than ever, do these high powered, successful women have an obligation to be role models and mentors for younger women looking to follow in their footsteps?
But, I didn’t ask for this! (Obligation)
I know what some of you are thinking; “I’m not here to be a crusader. I keep my head down, do hard work, and that’s it. I’m not asking to be a role model and I’m certainly not asking to be anyone’s mentor”. Most people would understand that. Your success is yours, not to mention, no one would ask a man that question.
You’re right, they wouldn’t. They don’t have to. Men just do it. Hence, the boys’ club.
Setting a precedent does not a movement make (Opportunity)
As of 2013, there are 23 female CEOs on the Fortune 500 list, and an additional 23 female CEOs on the Fortune 1000 list. That’s 46 female CEOs total. Just 5 years ago, in 2008, only 12 female CEOs were on the Fortune 500 list, and an additional 24 on the Fortune 1000 list, totaling 36 female CEOs. Even 5 years before that, only 8 female CEOs made the Fortune 500 list. So, we are making progress, right? That’s a good thing, agreed? In a decade, the number of women running Fortune 500 companies more than doubled. That sounds really impressive when you put it that way.
Here’s the reality.
Those 23 female Fortune 500 CEOs only occupy 4.6% of the total. Less than 5% of that list is made up of women. That means the other 95.4% is men. If that’s not complete and utter domination, I don’t know what is.
So, yes, women are making progress, and we should be proud of that. But, ladies, if you’re a high performer, then that 4.6% has to feel unsatisfying. It should, because it is. Just because these women have set a precedent at these companies does not mean a movement has begun. According to an article in the Harvard Business Review, “…high-potential women are not advancing in their organizations…without sponsorship, women are not only less likely than men to be appointed to top roles but may also be more reluctant to go for them.” There are hardworking, high-potential, capable women being passed up for promotions and advancement opportunities every day, for something as simple as a lack of sponsorship by a credible mentor.
In this Series
This is Part 1 of a four part series looking into the topic of women in leadership and the women looking to follow in their footsteps. We are seeking to understand the perceptions of women in senior leadership roles as well as entry level roles. In order to find out, we will be interviewing and surveying women at multiple levels across several industries. Can women make any real change without banding together? What is the cost of choosing to opt out? What are the benefits of choosing to opt in? Let’s find out.