Women in Leadership – International Women’s Day 2024
Maximum Performance
Improving the performance of individuals, teams and organisations
According to the FTSE Women Leaders Review, the number of women holding board seats at big UK firms is now 42%, a massive increase from 24.5% in 2017. However, only 10 are FTSE 100 chief executives, and the number of female CEOs has only risen from 15 (2011) to 21 (2023).
The Financial Conduct Authority rules say that women should make up at least 40% of a company board, and at least one of the senior board positions should be occupied by a woman. This is one of several rules and guidelines designed to address gender inequality and discrimination, the 1976 Sex Discrimination Act being the most prominent example. And yet, a recent Guardian article noted nine companies in the FTSE 350 with all-male executive committees.
These reviews, guidelines, and regulations are difficult to enforce consistently. They can’t force businesses to change their cultures and mindsets. They can make targets, goals and objectives; whether they are taken on board depends on the organisation and its leadership.
The system isn’t fit for purpose
‘Accepted’ practices (the way we do things around here) and the current approach to the workplace strongly favour men and fail to account for the different pressures on women and the other life choices they may make. Women drop out of the workforce at key stages (often due to caring or parental responsibilities). When they return from these career ‘breaks’, they fall behind male colleagues (often due to the addition of new responsibilities).
Also, the ‘strong man’ model is challenging to shift despite decades of research and theories favouring a more inclusive leadership approach. Academics, practitioners, consultants, and pundits have been promoting the virtues of leaders who listen and work with their organisations, bringing authenticity, patience, and intuition to the table. These are all good traits, and they are often portrayed as feminine.
So, you would think that the current change in the perception of leadership, supported by decades’ worth of evidence, would open the doors of opportunity to women. However, the figures say otherwise. The situation becomes more dispiriting when considering individual bias and organisational structural and cultural barriers.
Aside from 50% of the workforce being happier at work, change also offers…
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Moreover, the research points to the central business benefit of gender equality: more women in top management roles means greater business returns.
The role of coaching for women in leadership
Coaching, as a personal and skills development method focused on the individual, helping them set and achieve goals and tackling the issues and problems specific to their situation, can be a powerful tool to redress the balance.
Coaching helps create a space to develop (and apply) a broader spectrum of leadership qualities. An organisational culture that focuses on coaching is more likely to be open to change and improvement and more likely to listen to all its people, including those currently underrepresented.
Other than recipients developing themselves into more senior roles, the reported benefits of executive coaching for women include improved communication, time management, self-confidence, and workplace relationships. Oh, and enhanced leadership skills, too.
?While the FTSE review praises the progress made for women, it also emphasises its sluggish pace. The FTSE and current policies and regulations lay the groundwork for change, but individuals themselves must embrace change. They must do so if they want to experience the benefits. So, ask yourself…
To explore further how coaching could help your organisation, in particular with the representation of women in senior positions, check out our?website. Please feel free to give us a call on?01582 463461. We’re here to help!