Fidelio is a Board Development and Executive Search firm that is clearly committed to two fundamental principles: firstly that diverse leadership teams have the potential to outperform significantly; and secondly that there are absolutely enough good women. I was thus delighted to see unprecedented energy and activity surrounding International Women’s Day 2016. But, more importantly, I am also detecting a shift in corporate thinking which gives me much greater confidence that diverse outcomes can be achieved.
Gillian Karran-Cumberlege
International Women’s Day (IWD) 2016
In 2014, the World Economic Forum predicted that it would take until 2095 to achieve global gender parity and then within a year revised this figure to, still more disappointing, 2133. Hence International Women’s Day 2016 adopted as its campaign theme #PledgeforParity unleashing an extraordinarily dynamic response across business, politics and beyond.
Women’s advancement and leadership are central to business performance and economic prosperity. Profitability, ROI and innovation all increase when women are counted among senior leadership.
Pledge for Parity, International Women’s Day, March 2016
- On 8th March, I spoke to the Association of Women Business Leaders in Iceland who were holding a breakfast in Reykjavik to celebrate IWD’s #PledgeforParity—bringing together tremendous entrepreneurial and corporate expertise around the breakfast table.
- Later on the same day I was delighted to attend a reception for ActionAidUK at 10 Downing Street. This event celebrated exceptional women and highlighted that educating and empowering women is a powerful benefit to families and communities.
- A day later I joined a Women Corporate Directors’ dinner in London addressing the evolution of Board interaction with technology. The women attending brought extensive insight and experience into both technology and governance and the debate was led by a female head of the Global CIO Advisory Practice for one of the Big Four advisory firms.
- The following day I was thrilled to participate in a ‘Scale Up’ Thought Leadership lunch at which technology entrepreneur and investor, Sherry Coutu, shared research about the power of women’s entrepreneurship. This was followed by a lively debate, to which I was pleased to contribute, on how best to provide support to female-led businesses in order to scale up.
- After which I jumped on a train to Birmingham to speak at a Women in Business Conference hosted by CIMA. This was well attended by female finance professionals, a number of whom were working with leading industrial companies, and I was delighted to be able to draw on my heritage and experience within the automotive industry.
- A week later, Fidelio hosted our second “A Seat at the Table” Programme for senior female executives at Leeds Castle. We were joined by a select group of international female business leaders from major global corporates. Over two days we explored how to succeed to the top table and at the top table and participants left with a mirror, a framework and, above all, a road map to aid them on their way.
- And finally, as Easter approached I was privileged to observe a rehearsal at the English National Ballet as the company prepares the much heralded triple bill ‘She Said’. This comprises works by female choreographers commissioned by the ENB’s high profile creative director, Tamara Roja, who does not shy from challenge and change.
A Small Change in Attitude
Fidelio is in regular dialogue with Chairmen, CEOs and Group HR Directors who have ultimate responsibility for culture within their organisations and, within that context, for diversity. In the past month I have been struck by a subtle shift in tone—an admission that the pursuit of ever more efficient and streamlined HR policies, including selection and development, will not achieve the desired diversity. Large corporates do not have all the answers as to how best achieve diversity—and are beginning to admit as much.
To my mind this is a potential turning point. It reminds me of the recognition made by Harvard Business School that the very focus on the efficient use of capital had prompted some companies and investors into a relentless spiral of cost cutting and rationalisation.
Professor Clayton M. Christensen has spoken very eloquently about the unintended consequences of a relentless focus upon return on capital and the danger of “using the same (flawed) metrics”. These include ignoring the interest of stakeholders, including employees, and stifling innovation.
Similarly companies and regulators are beginning to recognise that highly standardised global processes in building leadership teams have failed to deliver diversity and have left many companies with structural gaps, for example women in the senior executive layer, which are proving hard to fill.
I have recently been struck by the humility and openness which some major corporates are bringing to the challenge of diversity. The gender gap in the executive layer is not susceptible to a silver bullet. More of the same thinking may shift the dial marginally but will not get us to a substantially different place.
Opening Routes to the Boardroom
To close the gender gap we need to open routes to leadership roles and, indeed to the Boardroom. This cannot be achieved by one harmonised programme, driven and tightly controlled by the corporate centre. Rather, in the spirit of innovation, the gender gap can best be tackled through a range of initiatives, possibly overlapping and competing.
We cannot solve our problems with the same thinking we used when we created them
Albert Einstein (1879-1955)
We see clients moving from a sole reliance on global search firms, which can become cookie-cutter in their processes, and working with boutique search firms, such as Fidelio, to ensure access to potentially untapped talent pools. Equally, highly innovative development programmes such as Fidelio’s “A Seat at the Table” bring external perspectives into the organisation and equip aspiring women with robust networks—internal and external—to support them as they move to the most senior leadership roles.
Of course diversity extends beyond gender. This was a topic I recently debated over lunch with a highly respected South African Chairman. Yes, business could do better in drawing upon the talent and resource represented by a number of minority groups. This is not a separate debate. Diverse thinking and a fresh approach will result in diverse outcomes.
Opening up the route to the Boardroom /Executive Committee is essential if we are to achieve greater representation of women in leadership roles. It also facilitates much broader diversity within the organisation. And critically the willingness to adopt a more open approach to selection and development provides companies with access to a much richer pool of talent. The business case is clear.
Fidelio High Notes – March 2016
Fidelio – Executive Search and Development.
Fidelio supports Chairmen and CEOs in building Boards and leadership teams capable of navigating complexity and change.
- Fidelio will host the third “A Seat at the Table” Programme for senior female executives at Leeds Castle, Kent on 13th/14th September 2016.
- On 5th April Fidelio will host a Board Breakfast on “The Future of the High Street” with Peter Williams, Non-Executive Chairman of Boohoo.com plc, former CEO of Selfridges plc.
- Fidelio’s Search practice currently actively engaged in hiring Communications professionals skilled in securing the license to operate.
For further details on the “A Seat at the Table” Programme or any other aspect of Fidelio’s Search and Development offering, please contact lmain@fideliopartners.com.