Have We Failed to Nurture Female Leaders & What Should We Do?

If you look at the captains of industry, religious organisations, and political parties worldwide, you may be excused for thinking that there is a shortage of women. A recent report published by the American City Business Journals cites a study by the resume software company Allsorter, which concluded that out of 1,000 of the world’s largest companies, only 64 were led by women. This means that 93.6% of the CEOs of the world’s leading companies are male.?

The numbers presented by the study above only tell us what we already know: we haven’t done enough to nurture an environment where female leaders can thrive. As an avid advocate of transformation , diversity, and inclusion, issues related to creating an environment where previously disadvantaged groups like women can excel are central to my heart and work.?

Anyone sitting on an armchair can claim to advocate for the empowerment of previously advantaged groups. Therefore, every time I look at my work in this area, I often reflect on the practical steps I’ve taken as a leader to ensure that when I say my work has empowered women to become leaders, I have solid ground to stand on.

In this piece, I focus on the reasons we still have over 90% of CEOs being male when women constitute more than 50% of the population. I will provide some examples of talented women I have worked with and coached. Finally, I want to look at what we must do to ensure that our society and its institutions are environments where female leaders can thrive.

Did you know??

Only 21% of all formal businesses in South Africa are run by women.?

In Korea, women occupy only 5.2% of executive positions in publicly listed companies.?

Of all companies listed in the 24 stock exchanges in Africa, only 5% have women CEOs.?

In India, only 4.7% of publicly listed companies have women CEOs.?

Women serve as Heads of State or Government in only 28 countries. UNWomen estimates that at the “current rate, gender equality in the highest positions of power will not be reached for another 130 years.”?

The numbers above show that the severe underrepresentation of women in leadership positions is a global phenomenon. Here are some factors contributing to the challenge:

To address these and other related challenges, we must work together as societies, organisations, and individuals to establish an environment that puts a premium on and nurtures gender diversity in leadership

The fact that we have performed dismally when it comes to getting more women into leadership positions does not have to do with a lack of high-performing women. Ask anyone, and they will have a list of women that inspire them. I should know because I have worked with and mentored some leading women in their industries.?

For example, as the chair of the SAMED board, I have been lucky to coach the organisation's chief executive officer, Tanya Vogt. Seeing the work Tanya is doing and the growth for both of us from our interactions has given me hope in the quality of women leaders we have.

Another individual who inspires me is Tania Habimana, a businesswoman with whom I've had the pleasure of collaborating in my roles as the chairman of SAMED and MD of Medtronic. Tania also serves as the anchor for CNBC Africa's primetime financial markets and business show, Closing Bell. Anyone familiar with Tania recognises her consistent willingness to push boundaries.

I was also fired up earlier this year when First Rand appointed Mary Vilakazi as its new CEO. The most inspiring thing about this appointment is that when you look at Mary’s experience and history, you know she earned this position. The appointment is a microcosm of what is possible when organisations are willing to invest in women and nurture an environment that allows them to excel.

We need to create a supportive and inclusive environment to ensure more women take up leadership positions. For example, we must start by acknowledging gender inequality, unequal access to education and opportunities, and inherent biases and stereotypes. When we acknowledge and deal with these vices, we can put ourselves in a position where we can determine how to offer networking opportunities and mentorship and create policies that support women and their needs while actively dealing with discrimination against women.?

At Medtronic and SAMED, we have decided to put our mouths where our money is. We are running a women empowerment index survey for our industry. We expect this survey to be one of a kind. We have commissioned the management consulting firm Deloitte to develop a report that we will use as a dipstick of how far we have gone in empowering women as an industry. ?

I have done my part in ensuring that where I have influence, I make myself available to mentor talented women. For example, as the chair of SAMED, I support the Women in Medtech Forum. This is a forum where the conversations are quite candid, and the aim is to get to the bottom of issues like gender bias. The Women in Medtech Forum seeks to consult women to determine how the MedTech industry can be supported to be more inclusive, equitable, and diverse.

As I have said before, we will triumph in making more women leaders if we do not perceive transformation as a burden but rather a spirit that drives our organisations, making sure every stakeholder believes that your entity is a place where they are represented and given a fair chance to be their best.?