Knowledge is Power: 5 Tips for Aspiring Women CEOs

Barbie was right. Being a woman is complicated. And being a woman CEO is even more complex.   According to the Women CEO Report from 2021, 7.8% of Fortune 500 CEOs are women. And less than 1% of them are women of colour.

The pipeline of senior leaders on the cusp of moving up and into the CEO role is promising, with approximately 30% of the senior level leadership represented by women. The journey to the CEO table includes appointments as COO or CFO of large corporations, allowing women to acquire the experience necessary to perform the role – and be selected – as CEO.

In the not-for-profit sector, which is overrepresented by women (80% of the not-for-profit workforce are women) one would think that the representation of women as CEO would be stronger. But the gender gap still persists, even in the not-for-profit sector, with only a select few making it to CEO.

Research by Dr Meghan Rehbein, Dean of Douglass College at Rutgers University sheds some light on how to increase the representation of women in C-Suite and senior leadership roles in the not-for-profit space. There are five pillars of experiences that women leaders will most likely encounter on their journey to the senior leadership table. These five pillars are explored in the new book, Embracing Ambition: Empowering Women to Step Out, Be Seen, and Lead.

Do you identify as a compassionate and ambitious female leader? The purpose of this list below is to better prepare women leaders for the obstacles they will encounter on their journey.

1. PERCEPTION BARRIERS
   …that feeling that people don’t “see” you in a leadership role.
   People will not yet “see” you as a leader. And women from BIPOC communities will experience significantly more pushback towards being “seen” as a leader.  The solution is to double down on referencing your experiences and track record within your role. Get more comfortable speaking to your accomplishments and if that feels uncomfortable, work with a coach to unblock some of your core beliefs about your perceptions of leadership.
2. EMBODIED ROLES
   …when you lose track of your personal and professional identities, accepting the false reality that you must “always be on.”
   This is a cautionary tale for aspiring leaders: beware of always feeling like you must be “on” in the office. It’s a guaranteed path to burnout for you, and your staff.  Because women typically over-identify with the constituent group they are representing (e.g. woman leader who has recovered from Cancer working for a cancer research institute) the lines between personal and professional can get blurred, causing burnout. Always trying to “prove” yourself in a role will result in exhaustion.
3. EMRACING CHALLENGE
   …when you say yes to something you know absolutely nothing about. How hard can it be?
   You are a product of your experiences. Just like lifting progressively heavier weights will make you stronger, taking on new roles and tasks will help you grow exponentially as a leader.  Say yes to a new portfolio, or a new role with the goal of getting new and different experiences. The path may not be linear to the C-suite, so be sure to build your expertise to include roles like COO and CFO.
4. GLASS CLIFF ASSIGNMENTS
   …when you are the “last chance” candidate for an organization with questionable finances because literally no one else would want the job.
   Women, visible and invisible minorities, and others are offered a “last chance candidate” opportunity to step into the C-suite. These aptly labeled “glass cliff assignments” become the “heat experiences” from which leaders prove their worth while learning valuable leadership skills in a very short period when the proverbial stakes are high.  Know that glass cliff assignments exist, and that you can learn a lot from them, if you keep your eyes open to the pitfalls as well as the opportunities.
5. VISIONARY
   …When all you see is potential and upside, even though the people around you can’t understand your vision.
   Aspiring leaders see potential, not roadblocks. When coupled with an unwavering positive vision of the future, leaders can bring along boards and staff towards a future that is not yet visible. Continue to fuel your vision for the future, even when those around you don’t see it yet. That is your special gift as a leader, and this is your superpower that will guide you to the CEO role.

Leadership is a series of learned experiences that shape who you are, and how you show up as a leader. You can read an MBA textbook about leadership strategies, but leadership is so much more fluid than a series of best practices wrapped up in a bow.

Written by Jenny Mitchell.

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