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Diversity, Equity, and Inclusion
Women in leadership: Key insights from the boardroom and beyondÂ
Mary Meaney Hayes shares some lessons learned on leadership diversity from a career advising company boards, being a board member, and from an unexpected and very personal role managing the effects of an international crisis.
Leadership comes in many forms, from the boardrooms of global corporations to grassroots efforts in times of crisis. As a veteran of McKinsey and a board member of both corporate and academic organizations, I’ve gained unique insights into the challenges and opportunities for women in traditional leadership roles.
But it was an unexpected journey â leading a humanitarian effort for Ukrainian refugees â that truly tested and expanded my understanding of leadership and the possibilities for impact through leadership.
In this article, I have sought to capture and synthesize lessons from both worlds: the corporate boardroom and a personal initiative triggered by a crisis more than 2,500 kilometers away. It explores how women can lead effectively with or without formal authority, the importance of diversity in thought and action, and the universal principles that underpin impactful leadership in any context.
Whether in a boardroom or a crisis situation, you can make a significant impact with vision, action, and persistence.
The importance of diversity of thought
In boardrooms across various sectors, what truly matters is diversity of thought, not just gender diversity. The most effective boards demonstrate real diversity of thought, foster a climate of psychological safety, and genuinely accept and celebrate diversity. These elements are crucial for robust decision-making and organizational success.
However, two main failure modes are often observed in boards. The first is a lack of diversity of thought, which can lead to catastrophic decisions. For instance, an investment bank once made a series of poor choices primarily because its leadership was homogeneous â all members shared similar backgrounds and thought patterns. The second failure mode is a lack of psychological safety, where board members feel unable to speak truth to power or challenge ideas. Both scenarios can be detrimental to an organization’s health and performance.
âDespite these improvements, getting more women into the senior executive pipeline remains a considerable challenge, with much slower progress.â
Progress and challenges in gender diversity
Progress in gender diversity varies significantly across countries. While some nations like Japan show dismal representation, European countries with quotas, such as France with its 40% requirement, demonstrate much better representation. In the UK, even the threat of quotas has had a significant positive impact.
Despite these improvements, getting more women into the senior executive pipeline remains a considerable challenge, with much slower progress. This pipeline issue is critical because it directly affects the pool of candidates for future board positions.
Addressing the barriers
Several addressable issues can help advance women in leadership. These include identifying talented women early in their careers, raising their aspirations and ambitions, providing targeted skill-building opportunities, creating flexible maternity leave and onboarding programs, establishing mentoring and role modeling initiatives, identifying and addressing conscious and unconscious biases, and improving performance metrics to ensure fair evaluation. There is no âsilver bulletâ â progress requires concerted action across multiple fronts and takes time, persistence, and passion.
Women on boards: observations and trends
From personal observation and discussions with colleagues, women directors on boards often come better prepared for meetings. They thoroughly read pre-meeting materials, develop a deep understanding of business situations, and prepare thoughtful questions in advance. Additionally, successful women in these roles typically demonstrate a commitment to continuous learning and professional development, maintaining a learner’s mindset and curiosity.
An interesting trend worth noting is the appointment of women to leadership positions when companies or countries are in crisis. This pattern suggests that women may be more willing to take on challenging roles out of a sense of duty and responsibility. However, this trend also raises questions about the support and resources provided to these leaders in such high-stakes situations.
As we continue to push for progress, it's clear that the focus on diversity and inclusion efforts in leadership roles must remain a priority across many sectors.
Geographic differences
The progress of women in leadership roles shows notable geographic variations. More success is seen in certain regions such as Scandinavia, France, and the UK. Surprisingly, countries like the Netherlands, often perceived as progressive, face more challenges in this area. These differences underscore the importance of considering cultural and societal factors when addressing gender diversity in leadership.
Moving forward
Creating psychological safety in boards and organizations is paramount for fostering true diversity of thought. Initiatives that bring together academics and practitioners, such as the Global Peter Drucker Forum, play a crucial role in advancing these discussions and sharing best practices.
As we continue to push for progress, it’s clear that the focus on diversity and inclusion efforts in leadership roles must remain a priority across many sectors. By addressing the challenges head-on and leveraging the unique perspectives and skills that women bring to leadership roles, organizations can build more resilient, innovative, and successful teams at all levels and maintain that healthy pipeline for the most senior leadership positions.
Leading without authority: Personal lessons from times of crisis
While my experiences in the boardroom have been invaluable, a recent personal journey has reinforced my belief in the power of leadership, even without formal authority. In early 2022, as the invasion of Ukraine unfolded, I found myself questioning whether one could lead and make change happen without traditional leadership assets.
Living in a small village in northern France, I had no authority, title, position, power, or official role. What I did have was an idea and a burning desire to help. That idea grew into an initiative that has helped more than 500 Ukrainian women and children, providing more than 100,000 nights of accommodation and 300,000 meals. We evolved into a multifaceted support system, becoming a social services agency, a French language school, a medical center, an organic farm, a moving company, a housing agency, and an employment firm.
This experience reinforced five key factors that I believe are crucial for effective leadership, whether in a boardroom or a crisis situation.
1. Vision with action: We combined a powerful ‘why’ with a clear ‘what’, sharing stories of individuals affected by the war and coupling this vision with immediate action steps.
2. Leading by example: My family and I hosted numerous Ukrainian families, never asking others to do anything we weren’t already doing ourselves.
3. Building an amazing team: We thrived on the diverse motivations and skills of our volunteers, understanding and appreciating their different perspectives.
4. Gratitude: Acknowledging contributions was vital. The more grateful we were, the more support we attracted.
5. Learning mindset and agile working: Operating in conditions of extreme uncertainty requires constant innovation and experimentation.
One of the most challenging aspects was maintaining persistence over an extended period of time. The physical and emotional toll was immense, with 18â20-hour workdays and constant emergencies in the early months. This required resilience and grit, qualities that are equally important for women breaking through in corporate leadership roles.
This experience has reinforced my belief that leadership does not necessarily require formal authority. Whether in a boardroom or a crisis situation, you can make a significant impact with vision, action, and persistence.
Key leadership takeaways
1. Diversity of thought is paramount: In both boardrooms and crisis management, diversity of thought is crucial. It’s not just about gender diversity, but about bringing together varied perspectives, experiences, and problem-solving approaches. This diversity, coupled with psychological safety, leads to more robust decision-making and innovative, sustainable solutions.
2. Leadership transcends authority: True leadership is about impact, not position. Whether you’re in a boardroom or responding to a humanitarian crisis, effective leadership stems from vision, action, and the ability to inspire others. It’s possible to lead and create significant change even without formal authority or titles.
3. Persistence and resilience are critical: Whether breaking through glass ceilings in corporate settings or managing long-term crisis responses, persistence and resilience are key. The ability to maintain focus and energy in the face of challenges is a hallmark of effective leaders.
4. Continuous learning and adaptability: Both in corporate leadership and crisis management, a learning mindset and agility are crucial. The ability to innovate, experiment, and adapt quickly to changing circumstances is what sets successful leaders apart.
5. The power of leading by example: In both boardrooms and grassroots initiatives, leading by example is essential. It builds credibility, inspires others, and creates a culture of shared responsibility and commitment.
6. Addressing systemic barriers: While individual effort is crucial, addressing systemic barriers is equally important. This includes tackling issues like the “pipeline problem” in corporate settings and creating structures that allow for equal participation and advancement at all levels.
7. The importance of support systems: Whether it’s mentoring programs in corporate settings or volunteer networks in crisis response, strong support systems are vital. They provide resources, share knowledge, and create a sense of community that’s essential for sustainable leadership.
These insights demonstrate that effective leadership principles are applicable in both formal corporate structures and grassroots initiatives. By embracing these principles, we can foster environments where diverse leadership thrives, leading to more resilient, innovative, and successful organizations and communities.
Mary Meaney Hayes will be chairing a panel on âRadical (but practical) ideas for advancing knowledge workâ at this yearâs Global Peter Drucker Forum on 14 November in Vienna. This yearâs theme is âThe Next Knowledge Work. Managing For New Levels of Value Creation and Innovation.â
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