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A lot of time roadblocks happen because of data points and assumptions made by other people. Don't just sit there and say, 'I don't understand.' Ask the question because you might find out that it is an assumption that was holding you back.
Shellye Archambeau
Board Director
Fortune 500
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I think that it's a responsibility for women to help others stand on our shoulders, such that one day others will stand on their shoulders and that we move ahead
Dr. Jacqueline Kosecoff,
Ph.D.
Managing Partner
Moriah Partners
For far too long, the door to the corner office kept away all those who were not part of the 'all boy's club.' More often than not, it was the lack of self-awareness, confidence, and supportive environment that steered aspiring women leaders away from reaching the corner office.
Today, women run 4.8% of the global companies per this year's Fortune Global 500 list1–a jump by one Chief Executive Officer over last year. That accounts for 24 global women Chief Executive Officers.
We identified some of the factors that could potentially derail an executive's career.
The top five included:
Lack of
self-awareness
Leadership
style
Culture fit
Discriminatory
behavior at the
workplace
Unhealthy or
destabilized
work-life balance
34.3% of our sample pool also agreed that the lack of a support network or community could also hamper the progress of an aspiring leader.
If I look at it from a woman's perspective, no matter where I have travelled, the biggest derailer I have seen is the lack of support systems for women when they are in their mid-career stages. This is when they've got married, they have children and they're really struggling to balance the demands at work and at home. Having a supportive family, as well as a workplace that provides the right support, is critical for these women to progress in their careers. I mean, I see the biggest attrition at this life stage for women.
Hina Nagarajan
Managing Director and Chief Executive Officer, Diageo India
And this attrition rate has only increased during the pandemic with the pressure of schooling children from home, looking after sick people at home, and then trying to manage a career at home. Organizations have noticed high attrition in women who cannot cope with it all–leading to an even stronger breakdown in self-confidence.
This lack of self-awareness accounted for the top derailer in an executive's career. To mitigate such gaps, we looked at what could motivate leaders most–especially as they face some of the derailers mentioned above.
TOP MOTIVATORS PER DERAILER
Developing and driving a successful team is one of the top motivators that can help combat these hindrances–followed by Collaborative Leadership, Diverse and Inclusive culture, and Recognition and Respect. Financial rewards/Promotions lie at the bottom of the list as a motivator for women in business.
