As a Board Development and Executive Search consultancy, Fidelio builds leadership teams that drive value. There is broad recognition that diversity, including gender diversity, contributes to performance and value creation. Technology stands out as a sector with enormous potential to generate value but with a very poor track record on gender diversity, in particular in leadership roles.
Fidelio is actively engaged in ensuring that women succeed to the top table and at the top table. We were therefore delighted to host a breakfast for senior women in the technology sector. Our goal was to explore what is holding women back in this high potential sector and what needs to be done to ensure access to the top table. Clear next steps were identified underpinned by a firm commitment to drive change.
Our tech table
To tackle the question of why technology as a sector has such a poor track record in gender diversity we gathered senior women who had something to say. They included CEOs, Managing Directors, General Counsel, Senior Advisors and Investors. FinTech, AdTech, Social Impact Technology and Tech (Executive) Search were all represented at the breakfast table.
Our guest speaker was Anne de Kerkchove who has over 15 years’ experience in leading some of the fastest growing technology, media and entertainment companies in Europe. (Please see full biography below.)
What does it take to succeed?
Outlining her own career progress, Anne highlighted some key themes critical to her own success. While in no way diminishing the importance of STEM (Science, Technology, Engineering and Maths) education, Anne argued the ability to code is not a precondition for success in the sector. Rather she focused on the following attributes:
- Ability to connect: Anne shared a passion for gaming with her brother. This interest and enjoyment was critical to being an effective player within media and technology.
- Ability to manage and lead: Anne readily admitted that her coding skills, while proficient, were far from best in class; much more important was her ability to lead and manage those who could code. This is what adds value to the business.
- Willingness to take on roles: Anne stepped into an MD role at the age of 27 accepting the responsibility and the challenge. Confidence and willingness to assume risk are key to success in the sector and responding to opportunity at an early age can be advantageous.
Why are there so few women in leadership roles in technology?
Recently, Baroness Martha Lane-Fox declared that, “Right now the percentage of women in the technology sector is smaller than the percentage of women in the House of Lords. And I find that very, very strange.” The guests highlighted a number of explanatory reasons:
- Ownership structure: The founders of successful tech companies sometimes meet in teenage years and this can form an impenetrable nucleus for latecomers. As the company grows this can be compounded by private equity or venture capital investors who frequently draw upon personal networks. In Silicon Valley this has been identified as contributing to the lack of diversity in the sector.
- Genesis of company: Tech companies can grow very rapidly and revel in their ability to disrupt. This often leads to a disregard for structures and perceived bureaucracy. As the company grows the HR function often remains weak and mechanisms for dealing with challenges such as lack of diversity are missing.
- Risk appetite and life style choices: The reward structure and upside potential is often heavily geared to the future. It is exhilarating and challenging but can call for a level of commitment and resilience and appetite for risk that women (and men) may not want as they leave the more carefree and unencumbered lifestyle of their 20s behind.
What needs to be done to establish more women in leadership roles in technology?
As the industry matures the gender imbalance is being increasingly highlighted. There is no silver bullet but our guests recommended the following initiatives to keep moving the dial.
- Business sustainability: It is not just about stemming the departure of women but creating routes for their return. This may well be a greater challenge in tech, than in other industries, given that obsolescence is such a feature. Industry wide initiatives and the large global companies have a significant role to play and responsibility to assume in taking the lead.
- Peer pressure and networks: Society is recognising the importance of diversity and the tech sector cannot remain an island. Nonetheless it is incumbent on senior women in technology to create networks of support, encouragement and indeed pressure.
- Improved recruitment and appointment process: When policy makers sought to increase diversity at Board-level, they focused to good effect on the appointment process. A more professional approach to talent acquisition would also benefit the tech sector. This includes clearly articulating the role requirements, rigorous identification and selection of candidates and, critical for the tech sector, a willingness to look outside personal networks. Professionally conducted Executive Search can clearly contribute to this process.
What is Fidelio doing to help women in technology?
Supporting technology firms as they grow: Fidelio’s clients include fast-growing technology companies. We support the Chairman and CEO to ensure that the requisite expertise and experience is in place as companies mature.
- Rigorous and effective Search process: Fidelio’s approach to Search is thorough with a high success rate. By applying a rigorous and transparent Executive Search process, we ensure clients have access to diverse long and short lists, regardless of the sector.
- Actively developing tomorrow’s women Chairmen and CEOS: Our “Seat at the Table” programme series is designed to help senior female executives to the top table and increase their effectiveness at the top table. It identifies the need to understand formal and informal power structures, recognise the power of networks and ensure resilience as well as establish presence and authority as crucial to success. Our second programme will take place on 15-16 March 2016 at Leeds Castle. Please contact Valentina Lorini at mailto:vlorini@fideliopartners.com or +44 (0) 20 7759 2200.
Anne de Kerckhove, Non-Executive Director
Anne was most recently the Managing Director EMEA for Videology, one of the world’s largest ad technology platforms. Anne has over 15 years’ experience in leading some of the fastest growing technology, media and entertainment companies in Europe. As leader of the Videology team in EMEA, she drove their expansion in over 16 countries in just under 3 years. Anne also sits on the board of Paris Region Enterprise to promote innovation and company creation in the French capital.
Prior to joining Videology she was Global Director of Reed Elsevier, responsible for the B2B Entertainment Division, which included leading events such as Midem, Mipcom, MIPTV and Le Web. From 2003 to 2009, Anne was COO and International Managing Director at Inspired Gaming Group, where helped build and grow the activities of the first server-based global gaming company, overseeing the company from its launch to IPO and expansion into 12 countries. Anne is also the former Managing Director of 12Snap UK and has a Bachelor of Commerce from McGill University and an MBA from INSEAD. Anne is also an angel investor and helped fund leading start-ups throughout the world including metail, the world’s first virtual fitting room powering leading e-tailers such as Tesco and Warehouse.
About Fidelio Partners
We are an integrated Search and Development consultancy supporting Board directors and Executives through strengthening the structure and skills of the top team.
Business leaders choose to partner with Fidelio because of our deep understanding of Finance, Strategy, Communications and Governance and our ability to source world-class talent across these functions.
Through Evaluation, Development and Search our clients can ensure that the Board and leadership team are well placed to:
- secure on-going access to capital,
- sustain corporate reputation and maintain the license to operate,
- and thereby increase the value of the business.
Fidelio Partners is a signatory to the Voluntary Code of Conduct for Executive Search Firms.