Initiatives for the Retention, Development and Advancement of Women – What Makes Them Successful?
By Nancy Droesch and Karen Miller, Co-Founders of WILLO LLC
August 23, 2017
In December 2016, the Wall Street Journal reported that “More than two dozen chief executives of companies, including Bank of America Corp., LinkedIn Corp. and Newmont Mining Corp., have signed a pledge to speed women’s progress up the corporate ladder.” Credit Suisse Research Institute released comprehensive research in 2016 that reaffirmed that gender diversity in leadership was linked to higher corporate profitability. Many companies have recognized the need to address the challenges of gender diversity in their own leadership teams and have established formal or informal “women’s initiatives”. Yet, the impact of many of these initiatives has not produced the desired results. Women are still underrepresented in leadership roles and progress to change this dynamic has been slow. We have identified the following key factors to establishing a successful initiative to retain, develop and advance women leaders.