Learning the Lesson of Gender
By
Bernice Hurst, Contributing Editor, RetailWire
As
the oft-quoted nineteenth century Spanish philosopher and novelist, George
Santayana, famously said, “Those who cannot learn from history are doomed
to repeat it.” One lesson many big businesses have failed to learn is how
best to employ (in both the literal and figurative senses) women. How to
hire them in the first place and then how to use them to the best of their
abilities.
As
usual, the principle enjoys almost universal approval with the practice
remaining an elusive aspiration. According to Forbes, Bain & Company
conducted a survey of more than 1,800 people worldwide and discovered that
near 80 percent claimed to be "convinced of the benefits of gender parity
at all levels." Respondents, comprised of men and women, allegedly "recognize
that retaining more women as they ascend the corporate ladder will add
diversity of experience and perspective and also will help them understand
women as buyers and influencers. Higher retention rates will also save
companies millions in recruiting and retraining costs."
The
problem, Forbes points out, is the difficulty in getting
women into leadership positions. While half of America’s workforce is female,
they explain, in 2009 women represented a mere "three percent of the chief
executives of the country’s 500 largest companies." Furthermore, "the female-to-male
ratio rapidly dwindles at almost every rung of the ladder upward, across
organizations and across industries."
The
two most likely causes cited are time off from career trajectories due
to motherhood, with the consequential lack of experience this causes, and
a failure by companies to enact consistent career development programs.
At least in part because of these corporate failures, more women are choosing
to start their own businesses rather than accept the frustration of being
employees. Bain apparently found "women entrepreneurs start nearly 1,600 businesses
daily in the U.S." They then quoted one such entrepreneur who explained,
"I chose to leave the corporate world and run my own company rather than try
to achieve gender parity at that corporation, in that industry."
Discussion
Questions: What in your opinion are the primary reasons that women
are represented in such low numbers in the executive ranks of business?
Are there opportunities for executive women particular to the retail
industry that should be further developed? What answers do you have that
will address the issue and improve business performance in the process?
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8 Comments on "Learning the Lesson of Gender"
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The reason women are under-represented is simple — the business world is still pretty much of a good old boy network and women threaten a lot of good old boys.
When will that change? The day we have to quit having discussions like this because we’ve become enlightened enough to view everyone exclusively on her/his own merits.
This gives me an opportunity to bring up a family career arrangement that I see growing by leaps and bounds, particularly within retail ranks: the rise of the house husband! I personally know five high-powered female executives whose husbands stay home with the kids, run all of the errands, and do all of the cooking. Maybe the mantra is shifting from “One woman can’t have it all” to “One family can’t have it all.” Will these enlightened and perhaps more realistic family models pave the way for more female executive leadership? I’d like to think so!
The “good ole boys club” is a wonderful myth, but if one wants to understand why more women are not at the top of the executive ladder ask the women who are there, and ask why most of their senior staffs are predominantly men. In politics look to women that reach the top, and review how many of their senior advisors are women.
Seems a ridiculous conversation in this day and age, but unfortunately one we still need to have. I will say this though, I know of at least 3 women who were elevated to CEO level over the years who all had children; incredible leaders and wonderful moms, all at once…point is, it can be done!
It would also be worth a study to see which industries really lag in this category as obviously, the fashion/specialty retail industry has made great strides.
Study after study has shown the women who do not take time off or choose not to have kids exceed men in achievement and comp pay. Those who take time off are usually not as well compensated, yet in line with the number of years of services. I think we are seeing a number of more prominent female CEO’s at the Fortune 500 and Inc 500.
Once we retire the current CEOs of the past generation whose wives have never had a career and totally devoted themselves to helping advance his career, things will change. We now have forty-something-aged women who have done both–motherhood and career. They have put in the time and energy just as their male counterparts have, and have come back from motherhood and picked up their careers. Their male counterparts have seen they can be counted on to continue working and are worth the investment in leadership roles.