Are women breaking up with leadership?

Or are employers giving us the brush off? An exploration of women at work

It’s International Women’s Day on March 8th and our timelines will be full of inspirational quotes, stories and case studies of women that are blazing a trail to the boardroom and beyond. IWD is a fantastic way to represent the fullness of professional women everywhere and the richness and value of our experiences.

And yet…

(Thanks to SNL for this very funny GIF - it’s a joke. Or is it?)

We’re still not there are we? Senior women still aren’t represented in anywhere near great enough numbers on UK Plc boards (despite positive outliers such as Marks & Spencer, which now has a female majority board.)

And we are now seeing senior women all around the world- from politicians to C-suite leaders - choosing to “consciously uncouple” from their leadership positions, seeking different things in life for their next act.

Let’s unpack this.

Women are good for business. But business isn’t always good to us.

Fact. Companies with more women at the top do better.

Time and time again, research shows that having a diverse and inclusive leadership team leads to better outcomes, whether that’s shareholder profit or purpose-driven outcomes.

Women it seems, are good for business.

Yet so many companies and organisations still have a female leadership problem.

Whether it’s through a lack of inclusive succession planning and development opportunities, or the realisation for some already at the top that they want something different for their next play, the end result is that there aren’t enough women in charge.

And without visible female leadership at the top, it’s hard for younger women to see a path they too can follow.

Are we being forced out by the crushing demands society puts on us to be the perfect business leader, lover, mother, care giver, friend, all around perfect human? Or not even let in at the starting gate because guess what, men are holding the door firmly shut in our faces? Perhaps it’s both.

In the last year, the rate of women leaders leaving their companies was the highest it has been for years. (source: Women in the Workplace 2022: Leanin.org and McKinsey & Company) The same report quotes the depressing statistic that for every woman at director level who gets promoted, two women directors are choosing to leave their company. And over the last year, nearly one third of women surveyed for the report had entertained thoughts of downshifting or even leaving the workplace.

These statistics only get worse for women of colour and women of other traditionally marginalised groups.

That’s a terrifying drain of talent from our workplaces.

So in a world where the concept of women’s empowerment is noisily celebrated and monetised everywhere from the worlds of sports and science, to healthcare, education and even the beauty industry, why is this happening? How are employers still getting it so wrong?

The “broken rung” is hindering women’s progression

Part of the answer lies in what McKinsey and Leanin.org call “the broken rung” effect. Those 13 missing promotions for every 100 men soon add up, and result in a much smaller pipeline of emerging women’s talent in organisations as they are held back from progression. We then see the impact of this in predominantly male executive leadership teams and board committees.

Factor in the personal headwinds that women face to a disproportionate degree at work, such as the challenges of meeting important needs outside of work (such as caring responsibilities) with limited workplace flexibility, experiencing micro-aggressions that may undermine their authority, or working in a culture that doesn’t feel welcoming or inclusive.

Women are questioning whether they want to be leaders in an organisation that doesn’t celebrate their value and prioritise their needs, even as they give everything they have, and more, to their job. I know, I’ve been there. And I suspect, so have you.

So what can we do about it?

What does it look like to do the work as an employer? Here are three actions every employer should take if they are serious about retention of women leaders.

If you’re an emerging woman leader reading this, share this with decision makers in your organisation to start the conversation. And if you’re a male ally, use your voice and your privilege to speak up too.

1. Get your house in order.

Having a diversity and inclusion policy is of course the starting point, but in order to really make change, think about how effective that policy is in reality - as well as others such as remote or flexible working, parental leave, menopause policy - for individuals typically most affected. If it’s a generic policy statement with no action plan for improvement and zero investment behind it, it may as well be a picture hanging on the boardroom wall. Nice to look at, but with no discernible impact for your employees and for the economic health of your company.

2. Set clear targets.

You can’t improve what you can’t measure. So setting targets for more inclusive leadership at every level of the organisation is a critical enabler for making it happen. Your starting point might make for uncomfortable reading, but that’s the point. Think about every woman currently disenfranchised as a result of your status quo and use the targets to push for better, more inclusive leadership opportunities and more diverse board development and succession planning within your organisation.

3. Invest in development to aid progression and retention.

Women who feel invested in by their employer - whether through development programmes, shadowing opportunities, coaching or specific upskilling - receive a clear signal from their organisation that they are valued, and that they have a future within it and beyond it. This is a fantastic way to support retention for emerging women leaders. In fact, the organisation The Pipeline cites a 96% retention rate following women graduating from its “Top Flight” programme for senior leaders, with more than 50% being promoted. Retention of talent is easier and more effective than churning and burning through new hires. And it means you’ll have leaders in place who truly value their journey through the organisation and will give back to it 100 fold.

Conscious liberation - it’s a thing

The other factor in all of this is of course personal choice. And that’s a wonderfully empowering way to think about non-traditional career choices. Slip the bonds of corporate hierarchy. Forge your own path. Do your own thing. Build your own business. I’m calling it conscious liberation, because hey, if it works for Gwyneth…

I successfully led Communications at many companies and public sector organisations for over 20 years before I made a change and re-trained as a leadership coach for first time Directors. I also founded an online store that sells antique homewares and that allows me to retain the essential nature of creativity in my life.

However…there’s always a story behind each of these decisions. And we need more women leaders to be honest about it. Refreshingly this is starting to happen.

Whether it’s Jacinda Arden saying “there’s not enough left in the tank”, or Susan Wojcicki “starting a new chapter focused on my family, health, and personal projects I’m passionate about”, it’s vital we understand what’s driving women to make a change. So we can support them at every step. Whatever their choice.

For me, it was the classic mid-life stage of reaching 45, burnt out after the pandemic which often had me working 14-16 hour days (which I don’t begrudge as it was in support of essential services, but can still acknowledge wasn’t healthy), and not feeling particularly supported to develop as a female leader. I wanted different and better. Not just for me but for future generations of women leaders.

This brings me back full circle to the business critical nature of investing in women at work.

Investing in women leaders helps us all win

The UK is facing turbulent economic and societal headwinds and if we don’t invest in women, we are leaving a huge amount of leadership talent on the bench - 13 women subbed and unable to play, for every 100 men already on the pitch.

You don’t need me to tell you that’s not a level playing field.

And we need all our teams at full strength to navigate what lies ahead.

So use your voice and let’s make International Women’s Day more than a bumper sticker slogan.

What will you do to make a difference?

And finally… your coaching prompt for the next two weeks

Think about this question as you reflect on women in leadership:

“What would it look like if we said yes to more investment in women leaders?”

Challenge your own leadership teams and boards with this question as the age-old issues of retention and recruitment come up. Ask them how it might feel to say yes to investing in emerging women leaders in the organisation. And help them understand the benefits. Show them this article. And point to the Women in the Workplace report. It’s stark reading, but essential.

And let me know how you get on!

You can find me on LinkedIn or on Twitter and I’m now offering bespoke coaching sessions to first time Directors of Communications, so get in touch if you want more information.

I hope you enjoy this newsletter. I love writing it and put considerable time into it, as I think sharing is how we all learn and grow. If you get some value out of it, please share with your network so we can grow together and build a community of modern leaders. It would mean a lot.