Women of Warwick- Breaking glass ceiling - Louise Redmond and Don Barratt-2012.05.17


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How Women in Business get to the top and how to improve their chances.

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Women of Warwick- Breaking glass ceiling - Louise Redmond and Don Barratt-2012.05.17

  1. 1. Breaking the Glass Ceiling – A Women of Warwick EventLouise Redmond17th May 2012 www.lawdeb.com
  2. 2. Back in the old days“Would they give up their noble calling as wives and mothers…to become incompetent surgeons, third-rate physicians, shallow lawyers, wordy, inconsiderate and excitable senators, or hasty, impulsive and discredited Ministers of State?”William Rathbone Greg (Senior Lead Writer, The Economist,1850) www.lawdeb.com
  3. 3. 20th Century Female FirstsRole First NowMP 1918 1 in 5Cabinet Minister 1929 33 to dateVice-Chancellor 1975 1 in 8Prime Minister 1979 Still only one…Senior Judiciary 1993 1 in 10Church of England 1994 2 in 3OrdinationsCEO (FTSE 100) 1997 1 in 20 www.lawdeb.com
  4. 4. Women by Numbers49% 31m 55%UK Workforce Women in UK University Graduates 14.9% 4% FTSE CEOs FTSE100 Directorships 400 134 years Missing Female To Achieve Equal Directors Numbers of CEOs www.lawdeb.com
  5. 5. What do women add to the board?• Gender diverse boards achieve superior financial returns –both in their net profit margins as well as higher returns on equity each year (Women at the Top of Corporations – Making it Happen, McKinsey, 2010)• Improved performance when 3 or more women directors on the board (The Bottom Line: Corporate Performance and Women’s Representation on Boards, Catalyst, 2011). Return on Sales, Return on Invested Capital, Return on Equity• Not all studies point this way but this does not necessarily undermine the main conclusion. With so many factors influencing corporate performance, null or negative results are not surprising. www.lawdeb.com
  6. 6. Who holds the purse strings?• By 2025 women will control 60% of the UK’s private wealth• Globally, women control £13 trillion in consumer spending• 70% of all US & UK personal wealth is owned by over 65s - the majority are women• In the UK, female millionaires will outnumber male ones by 2020• In China, there are 350 000 female millionaires Centre for Economic and Business Research www.lawdeb.com
  7. 7. Micro InequitiesThe little things can mount up…………• Wow, you speak English so well!• Where are you from, originally?• Are you his secretary?• She doesn’t have a surname but he doesHow we interpret language and posture can also count(Judith Baxter, 2011 Aston University. Women on boards: 4x more likely to speak unconfidently, indirectly, apologetically) www.lawdeb.com
  8. 8. Issues to Address• Does opting for flexible working involve demotion?• Does maternity leave jeopardise client relationships, bonus and appraisal?• Informal recruitment practices, including male-only networking events.• Lack of senior successful female role models.• Appointing in own (male) image.• Preconceptions of female aspirations.• Professions and jobs that women select.• Women’s attitude towards their skills, abilities and career.• Different communication styles www.lawdeb.com
  9. 9. How can I improve my chances?• Early career choices will make a difference• Profit and Loss responsibility is a key step on the way• Get international experience• Network intelligently and not just with women• Make trade-offs knowingly, seek to compensate• Believe in yourself and your abilities• Don’t worry if there are no role models• Take a chance• Get a sponsor or two• Expect it to be difficult www.lawdeb.com
  10. 10. Presentation 2 By Don Barratt
  11. 11. “Breaking The Glass Ceiling” (1)• What is the Glass Ceiling How would we recognise it What form(s) does it take Why does it apply only to women Why do we want to break it Does it keep moving upwards What happens when we’ve broken it 1
  12. 12. “Breaking The Glass Ceiling” (2)• How women can improve the position – some practical tips• A male perspective 2
  13. 13. How would we recognise it?• Different in various sectors eg much less prevalent in HR and the voluntary sector• Applies mainly to “permanent” work(double the %age of senior women in interim management positions)• “The only woman in the room”• Much worse in mainland Europe (eg France and Germany) but much better in Scandanavia• No female loos on the Executive floor• (Not) referred to in the annual reports, PR generally, company recruitment policies• Long hours culture, playing golf, lap dancing clubs 3
  14. 14. What form(s) does it take?• Job application process – introduction via contacts – members of the “old boys club”• Being aware of opportunities – if the senior management team is principally/exclusively male, how does a woman find out?• “But a role like this takes total commitment and long hours – won’t that get in the way of your family life?”• Lack of a “sponsor” when internal promotions are being considered• Maternity leave 4
  15. 15. Why does it apply only to women?• It doesn’t – there are many glass ceilings – education, age, background, health, sexual orientation, ethnic origin, etc• Gender diversity is part of the need for a diverse workforce – but need other aspects as well• Is Society at large actually ready to accept that women can do top jobs – HM Queen, Prime Minister, (almost) President of the US, so the issue is getting more attention 5
  16. 16. Why do we want to break it?• There are numerous examples of where a diverse senior management team produces superior results• The current reality is that most large company SMT’s are dominated by white males – so, unable to produce superior results• “Looking at the mess men made of it (eg 2008 financial crisis, current political omni-shambles), how could women have failed but to have done better”• Creating a fair(er) world will give opportunity to all• The opportunity to influence our own future and that of others 6
  17. 17. Does it keep moving upwards?• YES • NO 7
  18. 18. What happens when we’ve broken it?• A more diverse management team will have been created in (the) business - a wider mix of skills, experience, values and abilities. This will lead to the achievement of superior results in every sense• The evolution of society is such that a different glass ceiling will appear somewhere else! 8
  19. 19. How women can improve the position – some practical tips• Have some clear (career) aspirations, share these with your colleagues• Seek an internal sponsor/mentor – to guide and help you round the organisation• Make sure you’ve got strong support in your personal life• Use an external (to the workplace) mentor• Network (it’s at least as much to do with who you know)• Set a good example yourself – it will encourage others• Buddy up• Seek out role models, find out their tips and experiences• Avoid quotas (“the token woman”)• Stop the self doubt – you can do it (“my last boss would say...”)• Take the tanks off the lawn 9
  20. 20. A male perspective• Women are responsible for 75 per cent of consumer spending decisions – surely that means we (the business) need to hear more from them• It isn’t a fair world• Flexibility is key in working arrangements• Fear of “favouritism” in the workplace• Yes you can!! 10