Q: None of my top women managers are applying for executive positions. How can I change that?
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A: Good idea, since studies reveal companies with more women in the C Suite and on the board financially outperform others by 35 to 65 per cent.
Results are best generated with an initiative actively championed by the CEO that implements a structured hiring policy, targeted development and a workplace that recognizes women's need to balance work and life.
The easiest way for managers to fill roles is through their networks. Research shows 70 per cent of executives favour promoting men. Make gender parity a top management goal by rewarding it. By identifying particular capabilities to be promoted, current leaders will not merely replicate themselves. Require two qualified women be shortlisted for all leadership roles.
Fill the pipeline with eligible candidates, grooming high-potential women for promotion. Most women downplay their strengths and need to be persuaded to apply. A Hewlett Packard study found women apply for promotions only when they fill 100 per cent of the requirements. Men apply if they possess 60 per cent.
Offer women technical and leadership training. Give them high-profile assignments that partner them with a mentor. Appoint an internal champion to put capable women's names forward. Coach women on navigating the organization, executive presence and negotiations.
A culture that supports women's advancement rewards collaboration, promotes work-life balance, less travel, flexible work options and job sharing. It sponsors events during business hours so working mothers can attend.
Finally, measure your success. Track women's progress, survey them to find out what best supported them and adjust the initiative accordingly.
Joni Mar is a Vancouver-based certified executive leadership and team coach. You can reach her at www.JoniMar.com
Related links:
Women still facing glass ceiling in 2010: study
Pink collar jobs spare women from the recession
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Women still under-represented in senior leadership roles