New year, new start, new diversity?

A few months ago, I published?an article?reflecting on my first three months at Spencer Stuart. Noting that no women had reached out, I asked you to share my plea to women leaders to contact us — and you more than delivered.?

Since then, I've spoken to at least one woman leader every day, and the next few weeks are packed with even more conversations to look forward to with leaders from around the world, with roles ranging from chairwomen to board members, CEOs to aspiring C-levels. Talk about a great start to the year!

There is much to discuss. The good news is that their employers say they want greater diversity. However, saying it is one thing, achieving it is quite another. So what should these companies do to become more diverse, to attract - and retain - women leaders??

Here are some highlights from my conversations so far.?

State of the Nations??????

Let's start with the positive. Regardless of geographic location, there is an increased appetite for diversified leadership. Partly, this is driven by expectations from the next generation of employees and customers, a trend which is intensifying pressures on today's leaders to respond accordingly to attract and retain talent and win in the market.

However, several challenges remain. While progress?has?been made, it's still more challenging than it should be. Women still feel they need to perform more strongly than their male counterparts. This is interesting since male leaders often ask me:?"Will I be taken into consideration even if I'm a man?".?Women and men alike demand merit-based employment.?

Some women leaders shared that they realised they had been hired to fill a quota or as an appearance play. They got the title, but the actual inclusion and mandate were missing. They left shortly after since they did not work so hard to get to the C-suite just to be a number. As one woman told me:?"It is very difficult to not be allowed to lead when you are a leader".?Some feel this is due to a fundamental lack of trust, that too many employers still need to be convinced that women can be trusted in high-stakes situations.??

One consistent theme, though, has been that the women with whom I have spoken are united by their dislike of the men vs. women framing. Instead, they want it to be about skills. In other words, successful women want to be viewed via the prism of their results and not their gender — which is perfectly understandable. I do, too.

Turning intentions into impact?

Let's take a moment and remember why diversity is still a perennial priority. As my colleagues Martina Fohr and Dr. Simone Siebeke have?pointed out,?diversity helps improve team performance, strengthening a company's brand and workforce for current and prospective employees.?

There is also time pressure. The European Union has ruled that companies need to have?at least 40%?women on their boards by 2026 so it is in everyone's interest to start developing women leaders so they become board-ready as soon as possible.?

So what do these women leaders I spoke with, from chairwomen to leaders aiming at the C-suite, say would make them want to join, and what makes them stay? What have they experienced that works?

Advice to leaders

A good starting point would be for leaders to prioritise being open and inclusive. If there is a lack of diversity and women leaders in your company, it is not because there are not enough qualified women or diverse leaders out there; it is something else. Be open and honest in your ambition for a more diverse and inclusive team, and ask the minorities and women in your team about what they find challenging — and embrace what they have to say.

It's also vital to be fully aware of how a company performs on its diversity commitments. Sustainability reports have now (rightly) taken root on the corporate agenda, but why not do diversity reports track performance by seniority, ethnicity, nationality, and gender as well? Put a matrix in place and track commitments via KPIs, such as 40% of candidates for a role having to be diverse. And make sure there is at least one woman or minority representative in the interview panel.

What else can leaders do, according to these women leaders?

• Think Team.?Board members, CEOs and CHROs who are involved in the composition of the C-suite recommended that for your next hire, think about what's missing from the leadership team rather than everything you want in a leader. Women tend to have a more modest view of their contribution and potential, so if job specs are too wide, they are less likely to apply. As a team, you can lose some of the requirements that other leaders already possess and contribute to the team.
• Avoid groupthink.?Don't just hire people who make you most comfortable with them. Women and other diverse leaders will be different, perhaps in ways you don't expect, so when you experience it, don't reject it right away. Just like a good sports team, remember you need different talent and characters in different positions to win the game.?
• Remember in-house talent.?Many of the most senior leaders I spoke with emphasised that if you want an internal pipeline, you must understand that women?want?to step up and be promoted. So, if you have smart and talented women, they will leave if you don't promote them fast enough. Give them opportunities to develop their skill base, promote them - and the mandate to own the leadership narrative.
• Adjust your approach when needed.?Women reported feeling as if they have to change to meet male styles, which reduces the impact of the diverse leadership team. So please be open-minded to other ways of leading. If you want that first diverse leader to stay and have that impact you seek, be mindful that it can be exhausting to be the only one, and this is something Spencer Stuart's team and individual style assessments of leadership teams also confirm.
• Don't just focus on gender.?Look at team diversity and consider what is missing. Look to create a team with diverse ages, cultures, cognitive skills, religions, backgrounds, ethnicities, industry experiences, and internal vs external hires. It's about different thinking, different styles and different pathways.?

These are just some of the many recommendations from the women I spoke with.?

Do you know of companies and leaders who say they want to increase diversity, are at the beginning of the journey or are not (yet) getting the desired results?

I ask you, dear readers, to share this article with them.

If they want to get more recommendations and understand what will make the most significant difference specifically to their team and company, they can send me a message, and I will be delighted to discuss, assess and assist.

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