women in leadership - m.p.p.a.w...all rights reserved. 8 does it matter? mckinsey study: diversity...

© Korn Ferry. ALL RIGHTS RESERVED.

Women in Leadership: How is that glass ceiling coming?

Joy Hazucha, Global VP, Korn Ferry Institute

Presentation to MPPAW

November, 2014

© Korn Ferry. ALL RIGHTS RESERVED. 1

Polling question

Why is this topic so hot right now? � Diversity now makes a lot more business sense

� Intolerance for “ism’s” (racism, sexism, ageism) by younger generation workers

� Recent media attention (e.g. Leaning In/Sheryl Sandburg, HBR, etc.)

� The needle hasn’t moved after years of effort and“programs,” so companies are stepping up the debate

� All of the above


Talent constraints are limiting growth

PwC 2012 Global CEO Survey

Research on Women Executives


Where is the glass ceiling today?

Arial 26pt.

First level bullet goes here and can be quite long

• Second level bullet goes here, Arial 22pt.

Another second level bullet goes here

• Here is another second bullet • Here is a third level bullet, Arial 18pt.

Try to keep bullet lists simple and to the point


*U.S. Bureau of Labor

46 % 54 %

Who is on the job?


Women comprise

� 28 % of mid-level leaders

� 20 % of business unit leaders

� 17 % of senior executives

Who is in the corner office?


And there remains a salary gap…


Does it matter? McKinseyStudy:

Diversity at thetop impacts the bottom line.

Companies with the highest female board representations have a 26% higher return on invested capital (Catalyst, 2011).


• Are we less skilled leaders?

• Are we less ambitious to advance?

• Do we not have the right experiences?

• Is it the environment?

What is holding women back?


Four Dimensions of Talent


Whole person view: Who they are, What they can do

Who they are

What they can do


Success profile: Executive leader

Competencies

Decisions and strategy

Integrity and trust

Execution and results

Inspiring and developing people

Competencies

Decisions and strategy

Integrity and trust

Execution and results

Inspiring and developing people

Experiences

Multiple situations

Challenge and adversity

Critical and high visibility assignments

Experiences

Multiple situations

Challenge and adversity

Critical and high visibility assignments

Traits

Integrate complexity

Confidence

Drive

Inspire others

Traits


Confidence

Drive

Inspire others

Drivers

Broad influence

Belief in the mission,

Trade off with life balance and personal

accomplishment

Drivers

Broad influence

Belief in the mission,

Trade off with life balance and personal

accomplishment

STRATEGIC CONTEXT AND

FUTURE ROLE CHALLENGES

� Communicate vision� Handle a breadth of situations� Build credibility and

demonstrate strong leadership with key stakeholders

� Build a high functioning team� Build talent and capabilities� Meet financial and operational

goals� Engage the team� Make tough decisions

Who they are

What they can do


Drivers: What motivates leaders? Choose top 5

0%

10%

20%

30%

40%

50%

60%

70%

80%

Female (N=5160) Male (N=16454)

More important to women: challenging work, friendly

More important to men: responsibility, influence, moneyNo difference:

work-life balance, belief in mission


Traits: Natural tendencies

.28

.20.13

.06.02 .00

-.01 -.03 -.05 -.05 -.06 -.07 -.09-.13 -.15 -.16 -.18 -.19

-.23 -.23-.27

-0.6

-0.4

-0.2

0.0

0.2

0.4

0.6

Effe

ct S

ize

* Indicates statistically significant difference (N =2021)

As a group, Women scored higher than Men on these Traits.

As a group, Men scored higher than Women in these Traits.

large difference

medium difference

small difference

large difference

medium difference

small difference

Women more empathetic, focused, open to differencesMen more composed, affiliative, tolerant of ambiguity, optimistic


Competencies: Mid -Level Leaders


Competencies: Business Unit Leader


Competencies: Senior Executives


Experience: Leadership experiencesWhere women and men are alike�Self development�Challenging & difficult situations

Where men have the advantage�Business growth�Operational experiences�High-visibility experiences


Success profile: Executive leader

Competencies

Decisions and M strategy

B Integrity and trust

W Execution and results

W Inspiring and developing people

Competencies

Decisions and M strategy

B Integrity and trust

W Execution and results

W Inspiring and developing people

Experiences

Multiple situations

B Challenge and adversity

M Critical and high visibility assignments

Experiences

Multiple situations

B Challenge and adversity

M Critical and high visibility assignments

Traits


B Confidence

M Drive

W Inspire others

Traits


B Confidence

M Drive

W Inspire others

Drivers

M Broad influence

B Belief in the mission,

[Trade off with (lower) B life balance and

M personal accomplishment]

Drivers

M Broad influence

B Belief in the mission,

[Trade off with (lower) B life balance and

M personal accomplishment]

STRATEGIC CONTEXT AND

FUTURE ROLE CHALLENGES

� Communicate vision� Handle a breadth of situations� Build credibility and

demonstrate strong leadership with key stakeholders

� Build a high functioning team� Build talent and capabilities� Meet financial and operational

goals� Engage the team� Make tough decisions

Who they are

What they can do


Polling question

In your opinion, which is more important to actually breaking the glass ceiling?� More emphasis on individual initiatives by men and

women to overcome barriers (e.g. self-help)

� Much stronger organization support because diversity and inclusion makes business sense

� Both of the above

� None of the above


Challenging the status quo

�What women can do

�What organizations can do


What Women can Do

• Consider career goals and options (Drivers)• Broaden experience, go outside comfort zone (e.g.

financials)• Build connections: sponsors and mentors


Organizational perspective

• Don’t just try to “fix women”• Help talented people to understand their career

options• Help build Familiarity, Comfort, and Trust

Results from Korn Ferry’s WPID Initiatives


The situation in 2002• Less than 4% of executives were Women of Color (WoC).

• Turnover data was significantly higher for WoC.

• Time to promotion was significantly lower for WoC.

• WoC reported significantly lower job satisfaction, lower trust scores, and significantly higher intention to leave.

• WoC reported lack of career development opportunities and a lack of “authentic relationships” with their managers.

GOAL: to significantly improve morale, engagement, and retention of WoC

Large packaged goods organizationExample 1


The diversity initiative• Implemented organizational priorities around WoC, such as

building a sense of community and increasing representation.

• Established Advisory Teams and employee resource groups.

• Held national WoC conferences and regional WoC meetings.

• Partnered with Korn Ferry in the delivery of PowerPairs®.



Customized coaching program for women of color and their managers; uses facilitated dialogue to help participants better understand each others’ work styles, professional interests, and career goals, and to foster more authentic personal and professional relationships.PowerPairs ®

Example 1



Participants were promoted6-10 months faster

Time required to become productive in new rolesdecreased by 25-40%



67.5% increase in WoC VP

50% decrease in WoC turnover

100% would recommend the sessions


Large packaged goods organization

3.4 3.9 4.4

Helping direct reports be savvyregarding organizational dynamics

and culture

Providing robust and timelyfeedback to direct reports

Talking with direct reports aboutcareer paths

Understanding how to motivateand inspire direct reports

Scale : One to five, with one (1) indicating ‘strongly disagree’, three (3) indicating ‘neither agree nor disagree’, and five (5) indicating ‘strongly agree’

Pre Post

Example 1

Managers


Large packaged goods organization

3.4 3.9 4.4

Being aware of style similaritiesand differences with manager

Understanding how they uniquelyadd value to the company

Knowing what it takes to succeedat the company

Talking about career pathopportunities with manager

Scale : One to five, with one (1) indicating ‘strongly disagree’, three (3) indicating ‘neither agree nor disagree’, and five (5) indicating ‘strongly agree’

Pre Post

Example 1

Women of Color



3.4

3.9

4.4

Pre Post

Figure 1: Feeling valued

Manager WoC

3.4

3.6

3.8

4

4.2

4.4

Pre Post

Figure 2: Welcoming challenge

3.4

3.6

3.8

4

4.2

4.4

Pre Post

Figure 3: Celebrating successes

3.4

3.6

3.8

4

4.2

4.4

Pre Post

Figure 4: Gaining exposure


Women are key to prosperity

“We've seen what can be accomplished

when we use 50% of our human capacity. If

you visualize what 100% can do, you'll join me

as an unbridledoptimist about America’s future.”

-Warren Buffett, Chairman and CEO, Berkshire Hathaway. Quote from “Warren Buffett is bullish ... on women,” by Warren Buffett @FortuneMagazine, May 2, 2013.

.


Geraldine Ferraro

“Some leaders are born women”


Career playbook: practical tips for women in leadership. Korn Ferry Institute. http://www.kornferryinstitute.com/reports-insights/career-playbook-practical-tips-women-leadership

Diversity and inclusion program doubles representation of women of color executives in 4 years. KornFerry Institute, 2014. http://www.kornferryinstitute.com/reports-insights/diversity-and-inclusion-program-doubles-representation-women-color-executives-4

Facing the talent challenge. PriceWaterhouseCoopers 2012 Global CEO Survey. http://www.pwc.com/gx/en/ceo-survey/2012/key-findings/hr-talent-strategies.jhtml

In case of emergency, break the glass ceiling. Korn Ferry Institute, 2012 http://kornferryinstitute.com/reports-insights/case-emergency-break-glass-ceiling-women-c-suite-executives-show-all-right-skill

Is there a payoff from top team diversity? McKinsey Quarterly, April 2012 http://www.mckinsey.com/insights/organization/is_there_a_payoff_from_top-team_diversity

The bottom line: Corporate performance and women’s representation on boards. Catalyst Knowledge Center, 2011. http://www.catalyst.org/knowledge/bottom-line-corporate-performance-and-womens-representation-boards-20042008

References and Resources

women in leadership - m.p.p.a.w...all rights reserved. 8 does it matter? mckinsey study: diversity...

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