When it comes to women and leadership, the paradox — and the data — are clear.
A growing number of CEOs know they aren’t doing enough to leverage the wealth of experience and education that their women employees have. And they’re eager to build a more equitable workplace amidst a competitive war for talent.
To do this, companies need to uncover the reasons why women leave to fulfill their potential elsewhere. Here, we share what companies need to do next.
Find out how on-the-job training retains and attracts high-quality employees.
Go deeper into employee data and get precise about where the problems are. Analyzing by location, department, and role is a great place to start.
Go deeper into employee data and get precise about where the problems are. Analyzing by location, department, and role is a great place to start. But don’t stop there: Instead, slice and dice the data further and add variables like racial background, age, sexual orientation, and ability. That should clarify the areas needing attention.
The message for CEOs is clear. To value and empower women, employers must care for them during the full employee lifecycle.
Start by focusing on the universities and recruiters with a history of attracting the most qualified women candidates. Form a hiring committee with members representative of the diverse company culture you want to build. Empower them with the right training so the interview process is free from microaggressions and bias. Track progress closely to find out when and why women drop out of the hiring funnel.
Ensure fair treatment with analyses that get to the heart of why people leave their jobs. Compare the length of time it takes for women and men to earn promotions. Perform a pay equity analysis. Examine turnover rates between men and women with a deep dive into the differences between departments, roles, locations, racial backgrounds, religions, and other demographics.
Track and report efforts over time, remembering to follow the data so executives can address problems as soon as they arise. Following granular trends will show women in the workforce that executives are serious about their capabilities and contributions, and will lead a company to a more profitable, innovative future.
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