Unleashing the Full Potential of Women in Leadership  

International Women’s Day is a moment for reflection, celebration and, crucially, action. As a woman who has navigated the complexities of corporate leadership, I have witnessed firsthand the profound impact of diverse perspectives. Yet too often I have also seen the limitations imposed by leadership teams with little, or worse, no women.  

Despite the proud announcement that the proportion of women in the boardroom of the top 150 companies stands at 43%, with 53% as NEDs, men still dominate as executive directors at 81%; and the figures are far worse in private companies. I have lost count of the number of times I have viewed a company’s ‘Meet the Leadership Team’ page, only to be met by a sea of male faces.  

Let’s be frank: a management team with overwhelmingly male leadership leaves potential untapped, innovative solutions undiscovered and stifles growth. This isn’t a matter of opinion; it’s a matter of business reality. 

The Cost of Homogeneity 

Research consistently demonstrates that diverse teams outperform homogenous ones. McKinsey’s “Diversity Wins” report highlights that companies in the top quartile for gender diversity on executive teams were 25% more likely to have above-average profitability than companies in the fourth quartile. Yet, despite this evidence, women remain significantly invisible in leadership positions. 

Why? Bias, both conscious and unconscious, plays a significant role. But what is that bias? Is it really as simple that they are not considered good enough? What is passing through the minds of those who do not promote or hire women into their leadership teams?  

Actionable Insights for Businesses and Leaders 

How do we break this cycle?  

• Implement Anonymous CV Protocols: Remove names and gender indicators from CVs to eliminate initial biases. Studies show that identical CVs with male names are often rated higher than those with female names. This simple change can level the playing field. 

• Proactive Talent Identification and Development: Don’t wait for talent to come forward. Actively seek out women as potential leaders, and within your own business first especially those who may be less likely to self-promote.  Harvard Business Review research indicates women are less likely to apply for roles if they don’t meet 100% of the criteria, whereas men will apply if they meet 60%. 

• Fair and Inclusive Interview Processes: Train interviewers to recognise and mitigate bias both in the questions that they ask, and the interpretations to the answers that they are given.  

• Continuous Learning and Development: Provide ongoing training on diversity, equality and inclusion. Create spaces for open dialogue and feedback.  

• Flexible Working Arrangements and Return-to-Work Support: Offer flexible working options and comprehensive support for women returning from maternity leave. This is not a “perk” but a necessity. PwC’s “Returning to Work After a Career Break” report highlights the challenges women face in re-entering the workforce, and that continues.  

• Mentorship Programmes: Create formal mentorship programmes specifically designed to support women’s career advancement whilst providing guidance, support and advocacy. 

Empowering Women Within the Workplace 

Encourage women to leverage the support available and create their own opportunities: 

• Mentorship: Actively encourage them to partner up with a mentor who can provide guidance and support.   

• Skill Development: Support them in their professional development. Provide training and opportunities to enhance their skills and knowledge.  

• Compound Effect: When women are supported, they thrive, build stronger client relationships, and become advocates for other women, creating a powerful ripple effect. 

The Ripple Effect: Loyalty, Relationships and Value 

When businesses prioritise gender diversity, they reap significant rewards. Women who feel valued are more loyal, build stronger client relationships, and contribute to the overall success of the business. This isn’t just anecdotal; studies also show that diverse companies have higher employee retention rates and stronger client relationships. 

A Question to Ponder 

Ultimately, the question we must ask ourselves is: What are we willing to sacrifice by clinging to outdated leadership models? Are we content with mediocrity, or are we ready to embrace the power of diversity and embrace what it can bring to a business?  

This International Women’s Day, let’s celebrate and commit to seeking out those leaders – they are out there and ready to unleash their potential.