Retaining High-Performing Women Leaders

by Karen Kimsey-Sward

The pandemic continues to take its toll on many employees, including women. Many, especially those who are at the beginning of their careers, have had either to downshift their careers or have left the workforce in the past 18 months due to personal and professional roadblocks and challenges. Numerous research studies indicate 40% of women have considered or are considering leaving their companies or switching jobs.

Studies also show that companies with an equal gender mix perform significantly better than those that have male-dominated teams, especially when it comes to revenue and profitability. What are key areas we can focus on to build and retain our high performing women leaders at all levels?

• Evaluate your company culture. Corporate culture affects nearly everything in your company either directly or indirectly. In your business, ensure that the way people interact and collaborate with each other, the approach to problem solving and how decisions are made doesn’t undermine or impede the effectiveness of your women leaders. This is important at every level in the organization all the way to an individual manager level. The views of one manager can undermine progress and the culture. Often, people don’t leave companies, they leave managers.

• Provide flexibility. Many women continue to bear the overall responsibilities of managing home and work. A key reason many are leaving the workforce is the stress of managing both responsibilities and the lack of flexibility. Offer flexible work options that include when and/or where employees work. Although it is important to create fairness when making decisions on flexible work, let the employees have a voice in how this can be achieved. It’s also important to ensure that an employee is not judged for having flexible work hours, or that they do not feel as if they are missing out on opportunity because they have a flexible work arrangement.

• Focus on pay equity. Pay equity is an important tool to retain and advance women in your organization. While compensation can’t take care of everything, it plays a part in retaining your key leaders. Pay equity perceptions within the company can also influence morale. Regardless of the size of your company it’s critical to have and follow fair and consistent policies.

• Identify and leverage key strengths. Encourage women leaders to identify the key strengths they bring to their teams and the work they do. Work with them on a plan to leverage these strengths within the company. Provide them with growth opportunities that are aligned with their goals. For example, have them lead a meeting or a particular project and provide them with growth opportunities. This brings a sense of belonging and inclusion that is so important to keeping leaders engaged and part of the team. It is also key to celebrate differences within the organization and reinforce that we all play an important role within the organization.

Building an environment where your employees and leaders feel connected, valued and respected by each other will lay the foundation for a successful, thriving company. When you embrace a diverse group of men and women, people will identify and leverage the strengths and talents of one another. The number of women in leadership is continuing to grow, and whether you are a male or female leader, it is important to create a culture of opportunity and growth for all and to be in tune with the obstacles your employees and leaders face – and then to find a solution to retain your top talent.

Karen Kimsey-Sward has over 25 years working with business owners and franchisees helping them move to the “next level” of performance. She has experience as a business owner who has been through all stages of a company’s life; from its founding through the various stages of growth. She has also been on the franchisor side as a VP of Franchising. Karen is currently COO of Dale Carnegie Chicago. Karen can be reached at 630-640-0339.