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BENCHMARKING STUDY PHASE 1 SUMMARY OF FINDINGS: Challenges Women Leaders Face from the Perspectives of Female Leaders, Male Executives, and Human Resources Professionals September, 2019 Table of Contents I. Executive Summary 2 Process: Who & How 3 Outcomes 4 Summary Findings: Biggest Challenges Women Face 4 II. Breaking Down The Challenges 5 1. Self-Doubt 5 2. Work/Life Priorities 6 3. Effective Communication 6 Limiting Beliefs 8 III. Fears & Desires 9 Biggest Fears 9 Biggest Desires 10 IV. Costs for Women & Organizations 11 Costs to Women 11 Costs to the Organization 12 V. What is Needed 13 Coaching 13 Leadership Role Modeling 14 Sponsorship 14 Mentoring 15 VI. The Proposed Solution 16 BOLD Leadhership Framework 16 Sample Content 16 BOLD Manifesto 18 VII. Conclusions & Next Steps 19 Good News 20 Bad News 20 Next Steps 21 VIII. Parting Words 22 IX. Gisele Garcia Shelley Bio 24 1 I. Executive Summary As an executive coach and organization development consultant for 25+ years, I frequently see leadership teams requesting women to speak up, push back, bring more of themselves into the team. Coaching these competent, successful women one-on-one and in group coaching, they often talk about their fear and lack of courage to step up and share their brilliance with the rest of the team and organization. Through coaching, they often break through. My hypothesis, based on these breakthroughs, was that when women drop their limiting beliefs, become willing to shift behaviors and have support around them, they unleash their maximum potential to contribute and shine. It got me wondering… How were women and key stakeholders viewing what was getting in their way? What themes and patterns could be identified and addressed to break through these dynamics? What solutions did they think would help close the gap? These questions propelled me towards this research. The intention of this study is to identify the biggest challenges women leaders face, from the points of view of three different stakeholder groups (male and female executives, and HR professionals). This report will share the main ways women operationalize these challenges, what their fears and desires are, what it is costing them and the organization, and how stakeholders are perceiving them. We will suggest steps they can tangibly take to move forward and conclude with a possible solution to meet the stated needs and desires of the women and the organizations. 2 Process: Who & How This Summary of Findings is a result of almost 30 interviews with male, female, and HR executives for a total of almost 20 organizations. The company breakdown is: ● Majority Fortune 500 companies, with almost all being Fortune 100 ● Three private companies (worth $500m - $20b) ● Three European-based companies with rest being US-based with global operations ● Two mid-cap companies ● One mission-driven organization Twelve different industries were included: Automotive, Consumer Food, Custom Goods and Products, Luxury Goods, Financial Services, Hospitality, Industrial Manufacturing, Retail, and Technology (Semiconductor, E-commerce, Imaging and Electronics). In short, no matter what the industry, the themes emerged across the board, with slightly more concern being raised about women’s leadership in technical companies or technical-related roles. Female executives interviewed were primarily VP with some at the SVP and senior director levels. When interviewing HR professionals who were women, they answered from their own point of view as women executives as well as HR professionals. They were either heads of HR or Global HR Learning Leaders, VP’s of Coaching or Diversity & Inclusion, Global Directors of Talent Development or Learning and Development. Male executives were primarily CEOs or C-suite executives. There is a built-in bias with the men I spoke with because they were all either clients who would be willing to have this conversation, or were referrals because they would be willing to engage on this topic. Therefore, it does not represent a random sample of male executives. I will continue to conduct interviews to see if the perspectives remain the same or change in any way. Due to the high level of authentic, vulnerable conversations with the majority of all interviews, the participants and their companies will remain anonymous. 3
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