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Furthering Female Leadership
1.
2.
3. Who is Boyden?
The Right Leadership. Worldwise.
February 2019
Presented by:
Guy Herbertson
Principal & Global Co-Leader, Aerospace & Defense
Boyden | United Kingdom
4. The Right Leadership. Worldwise.
#DisruptTheNorm Female Leadership
Who is Boyden?
4
Founded in 1946, today we are among the largest global executive
search firms. We operate in more than 65 offices in over 40 countries.
We created the business of international retained executive search over
70 years ago and today we continue to drive innovation in the industry
that we created.
We specialise providing leadership and talent advisory services for a
diverse client base.
5. The Right Leadership. Worldwise.
#DisruptTheNorm Female Leadership
Practices & Sector Expertise
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CEO & Board Services
Human Resources: CHRO, HR Director
Private Equity & Venture Capital
Professional Services & Real Estate
Interim Management
Leadership & Talent Consulting
Consumer &
Retail
Industrial Financial
Services
Healthcare &
Life Sciences
Technology &
Telecoms
Social Impact
(NFP, Gov’t, Edu)
Partners and teams come together to best serve the client based on the
requirements of the role/job to be filled.
Sectors
Practices
6. The Right Leadership. Worldwise.
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1 | Furthering Female Leadership
Boyden identifies the blockers and enablers through an in-depth
research study in collaboration with senior women across Europe
7. The Right Leadership. Worldwise.
#DisruptTheNorm Female Leadership
Diversity & Inclusion - #DisruptTheNorm
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Realising our Vision
o We identify the most qualified talent by searching and assessing
without bias
o We provide diverse shortlists, sometimes facilitated by including
talent in our mapping that may be below the level at which we are
searching, in order to include high performers that have been
overlooked as a result of unconscious bias
Research
o Our approach is informed by our own research, such as our recent
Furthering Female Leadership Report which examines the obstacles
faced by female executives, and how organisations can increase
female leadership and reap the benefits
8. The Right Leadership. Worldwise.
#DisruptTheNorm Female Leadership
Why Increase Female Leadership?
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The future is being redefined. Only diverse organisations
will succeed.
Female leaders are just one element in achieving future growth,
new ways of thinking, new ways of working and new paths to
success – and a vital one
• Over 85 percent of CEOs whose companies
have a formal diversity and inclusion strategy
say it improved their bottom line, while
enhancing innovation, collaboration,
customer satisfaction and talent attraction.1
• A 10-year analysis of 300 U.S. start-up
investments found that companies with a
female founder performed 63 percent better
than those with all-male founding teams.2
• Among Fortune’s Most Admired Companies,
those with more female leaders have been
shown to be more creative and have higher
status in Fortune’s index.³
• ‘Women beget women’. The more visible
women are, the more others aspire to
leadership; 29 percent of board positions
are held by women in companies with a
female CEO3 versus 15 percent overall.4
1, 3 PwC’s 18th Global CEO Survey | ²Venture Capitalists First Round Capital | 3 PwC’s 18th Global CEO Survey | 4 Deloitte Women in the Boardroom
9. The Right Leadership. Worldwise.
#DisruptTheNorm Female Leadership
Our Research on Female Leadership in Europe
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An in-depth study based on 800 hours of face-to-face conversation on
the barriers, enablers and solutions for increasing female leadership.
10. The Right Leadership. Worldwise.
#DisruptTheNorm Female Leadership
Boyden’s Latest Articles and Insights:
Diversity & Inclusion
11. The Right Leadership. Worldwise.
#DisruptTheNorm Female Leadership
Organisational Culture is Still in the Dark Ages
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Boyden Survey - Executive Summary 1
Career obstacles reveal an inhospitable environment at
work and difficult social mores outside work.
The top three obstacles to a leadership career are embedded in
organisational DNA:
• Male dominated environment
• Old school management
• Overt female discrimination
The social environment makes combining work and family
difficult across Europe:
• 57% of respondents reported family and children as
a career (challenge) - Family 28%; children 29%
12. The Right Leadership. Worldwise.
#DisruptTheNorm Female Leadership
Organisational Culture is Still in the Dark Ages
12
Boyden Survey - Executive Summary 1
Career obstacles reveal an inhospitable environment at
work and difficult social mores outside work.
The ability to pursue an executive role part-time is seen as not
possible for:
• 82% in the Nordic region
• 58% in the United Kingdom
• 43% in Southern Europe
What to look for in a company and what are Boyden doing?
• Business leaders making cultural change
• 40% in German-speaking Europe
• Committed diversity & inclusion leaders
13. The Right Leadership. Worldwise.
#DisruptTheNorm Female Leadership
A Supportive Boss and Work Environment are
Key Success Factors
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Boyden Survey - Executive Summary 2
The right boss is ‘make or break.’ Make it organisational
and not personal.
Female leaders who are succeeding, point to a supportive boss
and work environment:
• It’s hard to ‘make your own luck’ – the advice is to
‘choose the right boss’
• Enlightened bosses actively encourage women to pursue
further business studies and push for promotion
• More visible female executives encourages other women
14. The Right Leadership. Worldwise.
#DisruptTheNorm Female Leadership
A Supportive Boss and Work Environment are
Key Success Factors
14
Boyden Survey - Executive Summary 2
The right boss is ‘make or break.’ Make it organisational
and not personal.
A woman’s partner is also key to her success:
• 36% report their life partner as a key consideration in
their career
• 23% have persuaded their life partner to move abroad to
pursue their career
• Some male partners are acting as mentors to help with
politics in a male dominated environment
15. The Right Leadership. Worldwise.
#DisruptTheNorm Female Leadership
A Supportive Boss and Work Environment are
Key Success Factors
15
Boyden Survey - Executive Summary 2
The right boss is ‘make or break.’ Make it organisational
and not personal.
What to look for in a company and what are Boyden doing?
• Equality, diversity & inclusion key performance
indicators
• An appointed EDI leader or embedded EDI in a
functional role, published EDI statistics and
performance linked to EDI data
16. The Right Leadership. Worldwise.
#DisruptTheNorm Female Leadership
What Benefits the Individual,
Benefits the Organisation
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Boyden Survey - Executive Summary 3
Access to top management roles is too narrow.
Across Europe, access to top management roles is exacerbated
by male dominated corporate environments, and therefore
restricted by male networks and word of mouth. Access is seen
as more difficult for women for:
• 86% in Southern Europe
• 75% in the Nordic region
• 63% in German-speaking Europe
• 38.5% in the UK. A further 38.5% say it is easier
17. The Right Leadership. Worldwise.
#DisruptTheNorm Female Leadership
What Benefits the Individual,
Benefits the Organisation
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Boyden Survey - Executive Summary 3
Access to top management roles is too narrow.
Consensus: Networking and mentoring goes further than the
individual to organisational success:
• Networking makes women better known for word of
mouth recommendations on the best talent
• Female networks are helpful, as well as opening up male
networks to women
• Mentors advise women on navigating hierarchies and
organisational politics
• Mentors advise men on accessing, evaluating and
leveraging female talent
18. The Right Leadership. Worldwise.
#DisruptTheNorm Female Leadership
What Benefits the Individual,
Benefits the Organisation
18
Boyden Survey - Executive Summary 3
Access to top management roles is too narrow.
What to look for in a company and what are Boyden doing?
• Implementation of formal networks and mentoring
programmes to deepen the talent pool
• Diversity has been made an on-going conversation
as part of the culture of the organisation
27. The Right Leadership. Worldwise.
Business case repeatedly proven
A truly diverse workforce has many benefits:
• perspectives, ideas, skills and experience
• employee engagement and business performance
D&I landscape continues to evolve, increased focus on listed
companies:
• Scrutiny now on FTSE 350 companies – Hampton Alexander
Business performance imperative:
• McKinsey (and other) global research
27
28. The Right Leadership. Worldwise.
8 March 2019Presentation Title Goes Here 28
You can have as many
diversity initiatives as you like and
recruit lots of diverse candidates, but
without a truly inclusive culture, none
of it sticks’
Brenda Trenowden, Global Chair,
30% Club
29. My observations over time
Female role models
Access to networks
Awareness and training
Mentors and
SPONSORS
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o Not all are ‘good’
o Female only groups…
o Positioning
o Male/ female
Greatest impact:
• Customer/ client demand
• Positive examples
• Organisational ‘permission’ to change
• Awareness – 80/20 rule
• Look for and take up opportunities!
31. The Right Leadership. Worldwise.
#DisruptTheNorm Female Leadership 31
For more information, follow us
www.boyden.com | www.boyden.uk.com
www.linkedin.com/company/boyden
www.twitter.com/boydensearch
Boyden
5th Floor | 10 Philpot Lane | London EC3M 8AA
United Kingdom
T +44 20 3651 6993
Editor's Notes
When I was asked to do this presentation I asked myself what do I know about women in leadership…doubted that anyone would be interested in what I had to say
I then realized I’ve been in management positions for the last 20 years and have worked in organizations from the Foreign Office to management consulting. I can do this but it took me moment to catch myself before going to my default position.
Was just me I wondered. I was reading the Stylist – I am human and I realized that like Emma Willis here I didn’t have the sense of entitlement to be here that so many of my male colleagues have.
Men somehow don’t have to balance being a man and being a leader like we do – I wonder how many Men & Leadership conferences there are?!
This is something that Harvard have identified
Women face a challenge conforming to female stereotypes and being leaders at the same time
We are expected to be demanding of our staff show caring and sensitivity
We are expected to lead yet be participative
Focus on our career and and also nurture others
Be leading yet approachable
Please don’t get me wrong I’m not advocating that we need to return to the bad old days of power dressing and behaving like men to get on – I am acknowledging that it is hard sometimes to be both
And I was wondering how can we as women reconcile this position?
One of the most important elements for me is being authentic.
I’m not a power dressing, go getter, who works a room to find my next promotion – that’s not to say if you are there’s anything wrong with that. But it’s not me.
It’s important to recognize your strengths
Be genuine – if you’re faking it you won’t feel comfortable and neither will the people around you
If you want to take time out for whatever reason it’s fine
I think this is something women are very good at and comes naturally to a lot of us.
It used to fill me with horror the thought of going to a networking event to collect business cards. But meeting and talking to people who at some point our paths may cross, finding common ground, helping each other out, looking out for opportunities to work together that feels a lot more authentic and something I’d be happy to do.
One thing I would add here is that throughout my career I have been by and large with a few exceptions very lucky with the people I have worked for – all men by the way – who have been supportive, egalitarian and recognized what I brought to the able – without gender being an issue.
The other relationship I would say is important is the one you have with your organization as a whole. Working at the GSMA for 10 year I have seen a shift in programme management team – started out at approx. 80% men it’s now more like 60% women. My advice is choose your organizations and if the one you’re in isn’t right either change it if you can or move on.
Which brings me to my last point – own it.
Men, women alike we all have responsibility for our own careers and we must own that
Know your goals and how you’re going to get there – when I was at the Foreign Office I for some biazarre reason know only to my 30 year old self decided I wanted to be a management consultant – I get an MBA and worked in the industry for a few years before deciding it’s now for me.
Get recognized – I had a boss who once said to me I’m sure you’re doing good stuff I just don’t know what it is – I bored every Monday morning for a year with what I had on my to do list
Ask for what you need to succeed – training, a new project, a career break. - whatever it is it yours to ask for.
In the original research, using 2014 diversity data, McKinsey found that companies in the top quartile for gender diversity on their executive teams were 15 percent more likely to experience above-average profitability than companies in the fourth quartile.
In the expanded 2017 data set this number rose to 21 percent and continued to be statistically significant.
For ethnic and cultural diversity, the 2014 finding was a 35 percent likelihood of outperformance, comparable to the 2017 finding of a 33 percent likelihood of outperformance on EBIT margin; both were also statistically significant (Exhibit 1).
We talking of a difference of 47% on return on equity between the companies with the most women on their executive committees and those with none, and a 55% difference in operating results.
The research is based on a larger dataset of over 1,000 companies covering 12 countries and using two measures of financial performance – profitability (measured as average EBIT margin) and value creation (measured as economic profit margin).
2014 research was 346 companies, mainly UK and US
McK hypotheses for what drives this correlation were: that more diverse companies are better able to attract top talent; to improve their customer orientation, employee satisfaction, and decision-making; and to secure their license to operate.