Pulse Marketing’s Lauren Fried: Younger women in senior roles could combat C-Level exodus

By Lauren Fried (left), MD, Pulse Marketing and co-founder, Advisory Board Institute

There’s been much debate about gender parity in the workforce and the advertising and marketing industry is not immune, as we know.

In my daily discussions with businesses – marketing is just one of a myriad of topics I examine with our clients – the biggest issues facing any business is staff retention, particularly the female

talent pool.

There seems to be a revolving door when it comes to women in senior roles.

According to global research by Mercer, released early this year, women are already underrepresented in the workforce globally, with the number of females in the professional and managerial ranks at only 40 per cent by 2025.

And while women are broadly represented at the bottom of organisations in support and administrative roles, their numbers drop suddenly as career level rises, says the report.

The report goes on to say: “While women are making some progress at the top, making up about 20 per cent of those in executive roles, this progress is due largely to the ad hoc hiring of senior women rather than attention to women at all levels of the hierarchy.

“This is resulting in a revolving door — while women are 1.5 times more likely than men to be hired in at the top, they are also leaving organizations from the highest rank at 1.3 times the rate of men, undermining those very gains.”

The Australian Bureau of Statistics also found: “In 2013-14, just 26 per cent of Key Management Personnel, 24 per cent of Board Directors and 17 per cent of CEOs were women.”

Women exiting the workforce when and if they decide to start a family is an issue we need to address.

Could we not encourage and promote younger women?

Businesses could up-skill women to more senior roles at a younger age so they can have a family and then be able to return to work.

The incentives have to be worthwhile, however, for women to make the choice to return to work.

If a woman is not senior enough before she goes away to start a family, then does it make much financial sense for her to return to work if she only earns $100 more after childcare costs?

An alternative is to spend a bit more time talent and career mapping for women. I also like the idea of promoting women faster, getting that rapid growth quicker, so they can then re-enter the workforce.

It may not be a new idea but is definitely one worth putting into action or we face losing women at the top.