How Women Leaders Can Successfully Scale The Glass Cliff
Some statistics suggest that the glass ceiling and barriers to diverse professionals’ advancement may be weakening.
Much has been made of the fact that women today run 10.4% of Fortune 500 businesses. And at 52 female chief executives in total, it’s an encouraging 18% rise from this time last year.
But despite the growing national conversation about equality, women in business still struggle to advance beyond a certain point within their careers.
Equally insidious is the glass cliff phenomenon, whereby women have been put in high profile positions that are for lack of a better word, an impossible task or a poison chalice.
Great expectations
The best research on the topic is still by Michelle Ryan and Alexander Haslam, of the University of Exeter which shows that there is a quantifiable tendency for women to be hired to elevated positions in times of crisis and uncertainty, only to be unfairly penalized when they fail.
When expectations are not fully met, often a company feels justified in going back to a status quo leadership by putting a man back in charge. The board/management can then feel satisfied that though they tried to promote equity, it just didn’t work out this time.
Researchers Alison Cook and Christy Glass at Utah State University followed up with a report examining Fortune 500 companies over a 15-year period.
They reported similar findings: White women and men and women of color are likelier than white men to be promoted to CEO of weakly performing firms. And an even tougher pill to swallow comes from a study by Columbia Business School which found that women are seen as the right choice to clean up a mess, but not to lead when times are good.
The system, to put it bluntly, is rigged. The glass cliff is a harsh and unfortunate reality, but it doesn’t have to stay that way. Nor does it mean you should turn down opportunities solely because a company is struggling. The key to preventing yourself from falling off that cliff is to approach it with an equal dose of caution and optimism and a strong plan in hand. And here’s how…
1. Set up expectations beforehand
One of the ways companies get away with Glass Cliff behavior is because expectations for women executives are set at an unrealistic level. By coming up with feasible metrics that symbolize success it will be more difficult for anyone to point to the idea that replacement is necessary.
2. Ask questions about the company’s culture
Speak with previous leaders about their experiences. Find out what type of support structures are in place. Knowing that there are designated mentors who can help you navigate tough decisions shows that the company wants you to succeed and will provide the resources to help you do so.
3. Outline a long-term solution
Part of the issue with a Glass Cliff is that it usually has to do with relatively immediate results. With a long-term plan in place, there is less recourse for those who want to oust a woman executive just because the situation seems dire in the short term.
4. Negotiate to handle risk
If the company is in a precarious situation, make sure the position is made to be worth your while. Women are four times less likely to negotiate their salary than men. Also be certain to research comparable salary and benefits for a position that fits the situation.
5. Make connections from day one
Seek out partners who can not only advise you on difficult decisions but who will also vouch for your leadership abilities when they’re called into question. Having a network of people who can offer you constructive criticism and who know your worth will help you strive forward even when it seems that the glass cliff is looming ever closer.
And perhaps most importantly, there’s no shame in walking away if the risk is too great. If you are a diverse candidate with leadership aspirations, you’ll most certainly be offered more than one glass cliff opportunity over the course of your career. Don’t avoid them– they could potentially be exciting–but don’t allow yourself to unwittingly walk into a no-win situation, either.
Here’s the bottom line: the onus of scaling the glass cliff isn’t on women. Regardless of how women CEOs perform, companies need to make leadership equality central to their values and ethos.
For a committed dedication to employee experience, look no further than progressive organizations on the The Hill Jobs Board like Ensco who are currently recruiting a number of exciting roles including a Senior Acquisition Support Specialist. ENSCO is a family owned company for the last 53 years, and has been recognized for its outstanding culture with several awards including the U.S. Department of Labor Hire Vets 2021 Gold Award, Diversity Jobs Top Employer in 2022, and Top Workplaces 2022.
Flying the flag for equitable workplaces is KPMG. The company has an appointed chief diversity, equity and inclusion officer, Elena Richards, to lead the firm’s national Inclusion and Diversity (I&D) team and work closely with the management team and board of directors to advance KPMG’s Accelerate 2025 initiative, which aims to drive meaningful change within the organization. It is now hiring for a number of roles including a Manager to join its business tax services practice.
Take a look also at the great possibilities at Options Clearing Corporation, the world’s largest equity derivatives clearing organization. OCC’s people-centered culture starts with providing a highly collaborative and supportive environment designed to encourage work-life balance and employee wellness, Current open positions in Chicago include Associate Principal, Model Risk Management, Analysis and Associate Principal, Regulatory Compliance.
Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed..
