Navigating the Future of Women in Revenue: Challenges and Opportunities

In the dynamic world of revenue management, the landscape for women professionals is evolving rapidly. As we delve into the insights from the Women in Revenue (WIR) Annual Survey and draw from my experience, the challenges and opportunities ahead are both substantial and transformative.

Let Us Set the Scene

Women leave education with higher qualifications, and ethnic minority education attainment results are even greater. Yet from the time women enter the workforce, their pay and position are being eroded. Let us get real: women still have the greater share of household and family responsibilities, those that do secure leadership positions, carry with them higher expectations such that they cannot afford to fail. Unlike their male counterparts, having the protection of the boys' networks, to more easily secure second chances. In addition to this, companies ask their women leaders to take on additional responsibilities to mentor other women and represent their organisations, publicly – all unpaid.

I want to see a recognition of this additional responsibility and parity in pay and conditions in the workplace.

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State of Women in Revenue (WIR)Today

The WIR Annual Survey, reveals a significant shift in priorities among women in revenue roles. This year, over eight hundred women responded, highlighting key concerns such as work-life balance, the prevalence of sexual harassment, and a notable trend towards career re-evaluation post-pandemic. (link in comments)

Following a recent discussion hosted by Women in Revenue. that I was invited to panel, unfortunately, despite all our best efforts, technical difficulties prevented my participation and contribution, hence this article to voice my opinion and discussion points. The online event went on without me, thank you for stepping in last minute Anne Pao , Debe Rapson , Sarah Sehgal , and the WIR team. Underscoring the resilience and commitment of Women in Revenue to overcoming challenges—a theme echoed in the survey findings. With representation across sales, marketing, revenue operations, customer success, and professional services, the survey underscores the diversity of roles and perspectives within the industry.

The Impact of Flexible and Hybrid Working

One striking statistic is the 24% year-over-year increase in the prioritization of work-life balance, reflecting a broader societal shift accelerated by the pandemic. This resonates deeply with my own experience, having navigated remote work dynamics since 2010 and in 2020 I recently invested in a garden studio office to enhance my productivity and well-being.

The UK's experience with flexible working mirrors global trends, with a notable 63% of organizations planning to adopt or expand hybrid working models, 71% say the main reason being work-life balance and improved productivity (source: Chartered Institute of Personnel and Development - CIPD).

In my recent LinkedIn LIVE presentation with Mary Shea discussing the Future of Work and Workforce and on the Scale Your Sales Podcast with various guests, we have explored how these flexible models are reshaping the Sales landscape.

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Transparent Compensation: A Driving Force for Change

The call for transparent compensation is louder than ever, with 52% of survey respondents, citing it as a critical consideration when evaluating job offers. This figure is more than double from just 21% in 2021 (source: Women in Revenue Annual Survey). This demand reflects a broader push for fairness and equity within the workplace, particularly concerning gender and ethnic pay gaps.

the UK government requires companies with 250 or more employees to report their gender pay gap data annually. Additionally, the UK government plans to extend equal pay rights to ethnic minority and disabled workers, requiring companies to disclose their ethnicity pay gap data. I would like to see this extended to all companies as it underscores the need for accountability and transparency.

From my discussions with industry leaders and my advocacy work, I have seen firsthand how crucial transparent compensation is to closing these gaps. For instance, the Xactly research findings report that women in Sales are not only underrepresented but also underpaid, with male counterparts on average earning 3.5% more. Sales professionals in the Life Sciences and Pharma sectors have a 9% pay gap, Manufacturing faces an 8% gap. Interestingly, the Financial Services industry stands out as a beacon of equity, with no reported pay gap. (source: Xactly Research, July 2024). These insights underscore the imperative for organizations to not only report but actively address these disparities to foster a more inclusive and fairer workplace.

I interviewed Michael Ranmi Akinlé , Head of Sales UKI, Qobra , the sales compensation platform that delivers visibility on commission and payouts, as Michael is closer to the ground root sentiment of what is happening in the UKI. Michael said:

“Revenue Leaders know there is a war on talent, the best talent drives revenue and keeps customers happy. A lack of transparency leads to frustration, de-motivation, and attrition.”

We discussed the barriers to transparency being a lack of budget (a false economy when talking about attrition), fear of change, and a lack of resources (every change needs someone to drive it to succession)

The Women in Revenue report states transparent compensation information was the third most desirable consideration in job placement. The challenge now lies in ensuring equitable implementation across all sectors and demographics, particularly addressing the diverse needs of women in leadership.

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Mentorship: A Catalyst for Success

Mentorship remains a pivotal yet underutilized tool for advancing women in revenue. Despite 80% believing it is useful, less than 30% of professionals currently have a mentor, highlighting barriers such as perceived lack of time, confidence, and organizational support.

I would highly recommend Women in Revenue Mentorship Program (link in comments)

From personal experience, I have found mentorship to be transformative. Early in my career, navigating the complexities of leadership, I encountered mentors who provided invaluable guidance and perspective, and still today I have mentors to help guide me. Their insights not only shaped my professional journey but also inspired me to mentor others—a responsibility I take seriously in advocating for equitable opportunities.

But let's be clear, my view is that women are not the problem. Do not think that women or diverse groups need coaching and mentoring and the problem will go away. Until the wider organisation is coached and mentored the problems and barriers will persist. You would be better off mentoring the majority because the minority know, and have the lived experience of being the minority, (we know the problem!).

Future Challenges and Opportunities

In my blog from a decade ago, I predicted the rise of freelance sales professionals, a trend that is increasingly relevant today with the emergence of fractional CROs and independent revenue experts. These roles present new avenues for women to leverage their expertise across diverse organizations and sectors, empowering them to take control of their careers in unprecedented ways.

Looking ahead, the future of women in revenue will be shaped by several critical factors. Job security concerns amid economic uncertainties and the persistent underrepresentation of women in leadership roles are still pressing issues that demand proactive solutions.

In my view, if we do not see the sales revenue leadership reflective of the global buyers’ market, we will see more women voting with their feet and moving into roles that value their experiences and skills and are willing to give them the flexibility and the fair and equitable renumeration they require.

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Empowering Women in Revenue

As we navigate these challenges and opportunities, one thing is clear: empowering women in revenue requires collective action and unwavering commitment. Building diverse networks of mentors, sponsors, and champions is essential, and platforms like Women in Revenue provide invaluable resources and support. Together, we can dismantle barriers, champion equity, and forge a future where every woman in revenue not only survives but thrives.

This article is a call to action—to harness the momentum of change, embrace diversity, and shape a future where women in revenue not only lead but redefine success on their terms.