Courage, curiosity and compassion have been labeled as the cornerstones for leadership at Deloitte. Maartje Laterveer talks to Aida Demneri, managing partner for Risk Advisory, about her experiences and how she incorporates these 3 C's into her role, intending to be a role model for other women, and working on a more diverse, future-proof and profitable environment.
https://lnkd.in/ezEYiZ2E
🤔 In a fascinating panel discussion titled "Break the Mold: Female Leadership Across Industries," at South Summit Madrid, moderator Mar Hurtado, asked me if women were being "dumb" when accepting C-Suite roles in business turnaround, crisis or massive transformation scenarios.
Joined by the insightful Kathryn Minshew, and Rachel Schall Thomas, we delved deep into the challenges and triumphs of women in leadership. The conversation was not only engaging but also incredibly relevant to the current landscape of corporate leadership.
A good portion of our discussion focused on the concept of the “glass cliff” a phenomenon where women and minorities are more likely to be appointed to leadership roles during times of crisis or poor company performance. Here’s what the research says:
📊 Evidence of the Glass Cliff:
👉🏾 Research by Michelle Ryan and Alex Haslam shows that women are more likely to be promoted to top positions in troubled companies. This pattern emerges because women are often perceived to have traits beneficial in crisis, such as being good communicators and team players.
👉🏾 Alison Cook and Christy Glass's study on Fortune 500 CEO transitions found that women and people of color are significantly more likely to become CEOs of underperforming firms. This risky positioning can lead to shorter tenures and higher chances of being replaced if turnaround efforts don't succeed.
As we discussed during the panel, this reality poses unique challenges but also opportunities for female executives. Here’s my advice for women stepping into these high-stakes roles:
✔ Go in with Your Eyes Wide Open: DO YOUR DUE DILIGENCE! Understand the inherent risks and be prepared for the challenges ahead.
✔ Secure Full Support from the Organization and Board: Ensure you have unwavering backing from your team and the board, as this support is crucial for navigating tough times.
✔ 3. Anticipate a Challenging Tenure: Recognize that the role will likely be stressful and your tenure may be shorter than in non-turnaround situations.
✔ 4. Have a Strong Support System: Build a network of allies and mentors to lean on. Also, always have a Plan B ready if things don’t work out as expected.
🌟 It’s essential for us, as female leaders, to be aware of these dynamics and strategize accordingly. By sharing our experiences and insights, we can better navigate the glass cliff and continue to pave the way for future generations of women leaders.
#WomenInLeadership#GlassCliff#SouthSummitMadrid#Leadership#Diversity#Inclusion#CorporateLeadership#WomenExecutiveshttps://lnkd.in/dPHKZWFb
Session Spotlight! Join HFMA MA-RI and Catherine D'Amato from The Greater Boston Food Bank for "Driving Impact Over Time!" This session will be part of the upcoming Women's Leadership Conference at PwC on April 26th. In this fireside chat, Catherine will discuss her early experiences in food banking and building achievable goals that led to material results. Learn more about this and other exciting topics designed to help you take your life and career to the next level.
For more information and to register: https://lnkd.in/eD-Z-Kaq#hfmamari#wlc2024#WLCHFMA#womensleadership#firesidechat#impact#GBFB
Great to meet with the very inspirational Anna Marks - our Global Chair - who is very passionate about diversity and inclusion, psychological safety and ensuring that we live our values all the way through every level of leadership. Being the conscience of the firm she wants to ensure that we take away biases and treat each other with inclusion and equity in mind. Thank you also to Christian Jensby for walking the talk for Deloitte Denmark. #Leadership#Diversity#Inclusion
During #WomensHistoryMonth we pause and celebrate our dynamic female leaders, highlighting the paths they took to get to their positions, the advice they have for other leaders, and the organizations they look to for inspiration. https://ow.ly/ta5R50QQuJg
