THE CHANGING WORLD OF LEADERSHIP

The benefits for companies of having women in leadership positions

The world has changed significantly and it is an understatement to say we live in incredibly challenging times given climate action, the pandemic, lack of governance and ethics, conflicts and widening inequalities at multiple levels. This has impacted each one of us as we are all part of a broader and interconnected ecosystem. We have suffered illness, mental wellness issues, stress, uncertainty, burnout, “always on” syndrome, loss, grief, GBVF, financial wellbeing challenges, retrenchment, and many have lost their businesses.

Indeed, in Africa, women and girls have largely borne the brunt of the pandemic, as the virus has exacerbated alreadyexisting gender inequalities, laying bare serious fault lines in safety, physical and mental health, education, domestic responsibilities, and employment and entrepreneurial opportunities. Invisible lives, missing voices: Putting women and girls at the centre of post-COVID recovery and reconstruction.

The unfinished business of gender equality in a post-pandemic recovery remains a major priority on the world agenda. Many companies have penned commitments to embracing Diversity, Equity, Inclusion (DEI) in the workplace. I would like to add Belonging to this list. This fast becoming a business concept is the key to making DEI work more effectively. It implies a psychological need that all humans have, to feel connected, accepted, recognised, acknowledged and included. Companies recognise the benefits of creating a sense of community and connectedness for employees, customers and stakeholders. The role of leadership is to foster this sense of belonging driven by values, culture, practices, policies that employees feel like they are serving a company with a higher purpose than themselves. This unleashes engagement and people feel more invested in their work.

Research over many years now shows that more diversity of skills, of thinking, of experiences, of insight and of knowledge, brought by combinations of demographics and gender, enables more inclusive and comprehensive decisionmaking and innovative outcomes. It’s in the collective, in the communication, in the collaboration of the combinations of men and female leaders where the magic really lies. This is a key leadership trend that we should actively pursue.

We need to make gender equity a business value not just a business priority. It has to be baked into every decision at every level. Values and beliefs drive a culture and behaviours where our mindset towards women in leadership positions permeates everything we do and what we are about, and does not stop at numbers and ticking boxes. Having said that though, the recruitment, retention and advancement rates of women must be more intentionally measured, monitored and reported on. We also have to share our stories as women in leadership to inspire others.

Corporations and governments must recognise the compounded contributions women can make if we are to sustain our companies, communities and society

We also need to recognise that there are unconventional paths to CEO and other C-suite and board roles. Our succession plans need to be sustainable, and can help us to improve and strengthen our pipeline of diverse talent as it will assist us to develop and promote talent. There is not a lack of diverse talent. We have incredible talent. It’s about lack of equity in assessing, developing and promoting talent, and giving the necessary support like mentorship. We need to supercharge the development of emerging leaders and give them the exposure and opportunity to grow and succeed. The path to parity needs to be very clear for every organisation which is committed to gender equality and women in leadership, so that we might accelerate our efforts. We need to see visible shifts in behaviour, policies, processes, attitudes, and this must be backed up by data.

Often leadership roles present precooked, traditional inflexible moulds we need to squeeze into. If we are to build future-fit leaders we have to accept that inclusion is a necessity not a nice-to-have. If we are to be aligned to emerging leadership trends, which involves adapting to and building innovative technologies, predict patterns in the markets through AI, and be more agile in a fast-paced world, we have to embrace a more diverse and inclusive culture. There have been many debates about why gender diversity on boards and executive teams is so important.

We have considered the business case versus the moral imperative. I do believe current leadership trends are asking more of us. The King IV Codes gives very clear direction: “The board composition provides an appropriate mix of skills, experience, independence, race and gender diversity for it to effectively discharge its functions”.

In closing, research indicates there is an undeniable body of evidence in favour of women’s empowerment. This presents a powerful case for building more diverse corporate leadership. Corporations and governments must recognise the compounded contributions women can make if we are to sustain our companies, communities and society. Studies are showing that companies with more women in leadership roles tend to have higher financial performance over time, arguably due to diverse opinions and empathetic, humanising leadership. Sustainability across environmental, social and governance elements of business is a key leadership trend that calls for transformational, ethical leadership that inspires, engages and motivates all employees and stakeholders.

Source: https://www.brookings.edu/blog/ africa-in-focus/2021/01/28/invisible-livesmissing-voices-putting-women-and-girlsat-the-center-of-post-covid-19-recoveryand-reconstruction/