How women can get to the top in the corporate world
Women participation in the CEO role is negligible around the globe. In this research, six insights are emerged which can be really helpful to prepare the next female CEOs worldwide. Brief discussion on some core findings of the study is sketched:
Women could be ready for the CEO role sooner
Women have to work harder, longer and prove themselves 10 times more compared to men to gain the CEO post. As they are spending more time to get there, they serve fewer years in top position.
Women are driven by achieving business results and making positive impact: Female CEOs are not only motivated by status, power or money, but also company’s positive impact on employee and community attract them a lot according to two-third CEOs.
Specific traits are essential to women’s success but are in short supply
Courage, taking risk, resilience, and managing ambiguity: these four are the key traits and competencies of female CEO’s success. To become successful in top position, a female needs these qualities badly. One women was demotivated to go to Atlanta as no one could be successful there. However, she went and made it.
Despite their potential, women do not see themselves as future CEOs
Female cannot think of themselves as CEO until they were recognized by someone. Study found that only 5 out of 57 wanted to be the CEO where 3 never wanted to.
Some points need to be worked on creating and sustaining a pipeline of female CEOs. Considering these points can be beneficial to develop women to be the future leader of the company.
Identify potential early
Companies should facilitate their potential female leaders by designing a process that includes sponsors, mentors, and role models who recognize women’s potential and help them envision a path to becoming CEO.
Articulate roles in terms that engage women
A job description should have some attractive attributes which can motivate female leadership.
Beware of the “glass cliff”
Glass cliff is a metaphor that refers to the tendency of organizations to put women in power during times of crisis. Companies should give proper chance to female to prove themselves.
Monthly Business Review- March 2019
In the realm of global corporate leadership, one name resonates loudly across industries and regions: Indra Nooyi, the former CEO of PepsiCo. Hailing from the diversified India, Indra changed the face of PepsiCo when the brand was witnessing dwindling popularity. After she stepped down as the CEO after 24 glaring years in PepsiCo., market analysts are terming the position “very hard to replace” in wake of Indra’s bold and thoughtful leadership style.
This year, the theme for International Women’s Day is aptly kept- #BalanceforBetter. In Bangladesh, Ready Made Garments (RMG) has been the frontrunner in empowering females, where 4 million women found their earning source. Over the years, SME sector has also witnessed surge in active women entrepreneurs, who are highly motivated and aspired to take their business to a whole new level. The growing participation of young female entrepreneurs in F-commerce realm also deserves accolades. In corporate level, however, an unbalanced trend is discerned as we move up along with the hierarchy ladder. Female employees start falling out as they move to the mid-level in career and start having their own family responsibilities, resulting in a vacuum in top leadership positions. In many research and survey conducted internationally, it has been reflected that women make difference in the boardroom and in the company culture when they are put at helm of a company. It is high time, local corporates should recognize the fact and start working on the female potentials to the betterment of the company and coming up with suitable initiatives and facilities for them. Perhaps, down the line, Bangladesh may give birth to a number of Indra Nooyi’s who will change the face of the total economic scenario with their prudent leadership skills.
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