Colleen Larsen talks about the importance of focusing on an organization’s calling during uncertain times and how companies can help women achieve their career goals.
Chapter: Attracting female talent
About: : Colleen Larsen is the chief executive of Business Engage and president of the 30% Club’s Southern Africa and East Africa chapters. Her career spans 28 years in financial services. Best known for her work in gender mainstreaming, she is a leading voice for the sustainable advancement of women in the corporate and entrepreneurial space in South Africa. She founded Business Engage in 2005, at the forefront of strategic thinking on gender mainstreaming, and started the Gender Mainstreaming Awards in 2013. Colleen is a fellow of the Institute of Directors and author of the book Gender Matters: a Practical Response to the Slippery Ladder, released in May 2023.
How have you seen the workplace evolve in terms of gender equality throughout your career journey?
The whole subject has definitely moved from a women empowerment issue to a business imperative. One of the reasons for this is the work done by campaigns such as the 30% Club and Champions for Change in Australia. These campaigns have taken the lead in involving men, and very senior men at that, in the discussions and the actions that have followed the discussions. And in some countries, the United States being a good example, shareholder activism is focusing on what companies are doing at the highest level regarding mainstreaming gender.
“We are moving from companies perceiving themselves as not knowing what they should do to being very comfortable with where they are heading”
What more do you think could be done to improve gender diversity and produce more female CEOs?
Remember that the CEO is the top of the tree. Before we can get more women there, we have to build up the branches underneath. In the research that Business Engage does with JSE-listed companies, there’s a very noticeable trend of more chief financial officers who are women. In theory, this may bode well for women to step into the CEO role. Either way, we need to wait and see what positive effect, if any, the COVID lockdowns have had. Now, that may sound strange, but the way we work has shifted over the past few years, and this could play into the hands of female senior management and the C-suite. It’s doubtful that any more influence from global organizations such as the United Nations or World Economic Forum would be instrumental in change.
What should employers communicate in their brand to attract top female talent?
The best way to attract top female talent is complicated, just as it is to attract any talent. Employers have competition for talent from various sources. For example, chartered accountants are not just employed by accounting and auditing firms; they are found in sectors ranging from mining to transport logistics. Organizations need to have a firm understanding of what it is about their company that women find attractive. For example, a refinery in New Zealand considers itself to be in two industries. The first one is oil, which is self-evident. The second one is brains. The company is recognizing the second one, which they believe is what attracts the best female talent.
How important is it that an organization conveys a calling and purpose during these uncertain times?
It’s important that an organization coveys a calling and purpose at any time. Categorizing any time as “uncertain” is very subjective. Companies that don’t understand their purpose or don’t convey their purpose to their stakeholders run the risk of becoming irrelevant. Organizations should use scenario planning to understand the risks to their business, to their sector, to the country, and to the world. Being able to plan and update such plans reduces any perceived uncertainty.
Finally, any purpose must be genuine and be led from the top.
“A company that merely pays lip service to its purpose will soon be found wanting.”
What kind of support can organizations provide for female talent to achieve their career goals?
The type of support that an organization gives all of its employees will depend very much on the type of organization and the sector it is in. It also depends on where the woman is in terms of her career and her overall maturity. Clearly, there should be a long-term strategy in play, not just short-term quick fixes. More importantly, the person receiving the support has to buy into the overall process and have a clear understanding of what they are trying to achieve.
“It would be counterproductive to segregate the talent initiatives for men and women. However, a balancing of the books based on meritocracy may have the desired results.”
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