5 Female CEOs On How We Can Close The Leadership Gap

When it comes to the “gender gap” in business, a substantial leadership gap still exists.? Even though women are 50.8% of the population, only 10% of Fortune 500 companies are run by women and only two of them are Black women! ?? In addition, only 15% of women in venture capital are General Partners (GP’s have “check-writing” authority, meaning they are part of the “voting” decision to write the check to invest in a startup within a venture capital firm.)

When women are at the helm in firms, they promote and pave the way for other women. Female decision-makers tend to hire more women and invest in more women. And per the numbers, women leaders outperform their male counterparts, yet are leaving middle management in droves due to inflexibility in the workspace. Only about 5% of venture capital funding goes to female-founded startups (0.2% goes to startups founded by Black women), which exit faster and at higher valuations than male-founded startups. You can see the leadership impact that women have when given the opportunity to lead; when women are at the helm, companies do better financially.?So why aren’t there more female General Partners and CEOs??

Thankfully, many of the women who have bridged the leadership gap have generously shared their stories and what they’ve learned along the way. Here are 5 women who offer some great advice for leaders and entrepreneurs of all genders!

1) If you want something, ask for it

This piece of advice comes from Beth Ford , CEO of Land O'Lakes, Inc. She credits her success to something her mother told her when she was just 11 years old. Ford is one of eight children, so when she had a tantrum about something she thought her mother “should have understood” without explanation, her mother said, “If you want something you should ask for it. I’m not a mind-reader.” That moment taught her to speak up for herself and to be direct when it came to asking for help or for something else you want, instead of waiting for others to give it to you. It’s worked out well for her. Ford is the first woman to lead Land O’Lakes in its 101-year history, and the first openly gay woman to become a Fortune 500 CEO.

2) Believe you belong?

As Chair and CEO of 通用汽车 , Mary Barra is the first woman to lead one of the “big three” American automotive companies. Being a woman in a field dominated by men isn’t easy, but Barra doesn’t talk herself out of her position. "Even as I started at 18 and the first time I entered an assembly plant, I didn’t say, 'Oh wow, there’s not very many women, do I belong here?’ My mother raised me to believe that? of course I belong here. I had this seat at the table."

3) Your path may look different?

Thasunda Brown Duckett , President and CEO of TIAA , is one of only two Black women currently serving as CEO of a Fortune 500 Company. She advises women that “... there is not one path to starting in Corporate America and there’s not one path to ascend… Give yourself permission to go for the job regardless if you see someone who looks like you or not - because you are maybe that first trailblazer.” Later in the same interview, she goes on to say, “When you walk into a room and you may be the 'only', don’t lean back, pull up the chair, sit next to the person at the table to make sure you’re bringing your voice and your perspective."

4) Change the system, not yourself

Former Director of Policy Planning at The State Department and current CEO of New America , Anne-Marie Slaughter , encourages women in leadership to advocate for change. Instead of saying that women aren’t cut out for leadership because we’re often shouldered with care giving and other responsibilities outside of work, we should make executive career paths more accessible. She says that “(Women) must insist on changing social policies and bending career tracks to accommodate our choices, too.? We have the power to do it if we decide to, and we have many men standing beside us."

5) Demand respect?

Many women undersell themselves professionally, which can exacerbate the gender gap when it comes to leadership, promotions, and even pay. That’s why Liliana Lovell , CEO and founder of the most famous bar in the United States, the Coyote Ugly Saloon, tells women to know your worth and to demand the respect you deserve. "I am a powerhouse. No man will ever stop me from achieving my goals.? I know what I'm worth and I know how I should be treated.? I've never tolerated less than that." Take a page from Lovell and don’t downplay your achievements or expertise. If someone speaks down to you or underestimates you, don’t accept less than the respect you deserve. It’s not easy, but once you get a taste of that kind of power, you’ll never go back.?

It’s up to us to look to these women as trail blazers and pass the torch to continue to break the glass ceiling and pave the way for future generations of women in leadership positions.?

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