In the UK, last year only 3 of the FTSE100 executives were women. Employing more women in senior positions has the potential to increase productivity and boost profitability, says Jo Feely, Head of Consulting at Alexander Mann Solutions.
Although most companies should have gender policies in place the actual practice demonstrates they are usually missing. The report says that it is clear that corporates are not doing enough.
As women are half the potential human capital available in any economy, the WEF argues that the “efficient use of this talent pool is a key driver of competitiveness”. As Professor Klaus Schwab Founder and Executive Chairman of the WEF says, “Women account for one-half of the potential talent base throughout the world and therefore, over time, a nation’s competitiveness depends significantly on whether and how it educates and utilizes its female talent”. In my view, no country can afford to neglect the skills of their women and when they do, it’s to the nation’s detriment.
In 2011, McKinsey & Co. published a report that found that whilst men are generally promoted on their potential, women are promoted on past accomplishments. There are a number of reasons why women choose to remain at their current level or move on to another organization. It was been that women at middle management level were more interested in progressing to leadership roles than entry level women.
Women cited the following reasons for their lack of advancement, despite having confidence and wishing to progress: “lack of role models, exclusion from the informal networks, not having a sponsor in upper management to create opportunities”.
I agree with this stance as this is not a simplistic problem. Yet I believe that with more role models such as Sandberg and McKinsey forging the way, women’s advancement is inevitable. The question is, how long will it take to achieve parity? That will depend on how strongly you wish to shatter the glass ceiling. With a coach/mentor, the process will be accelerated and less difficult.
If you would like me to work with you to help you smash the glass ceiling, contact me at Ghazala@careerchangeat40.com or call me on +44 7563 563 254.