Insights

The Diversity Debate In Executive Recruitment

The Diversity Debate - Arete Executive

Diversity among executive ranks is important and comes up for discussion regularly in our field. Most often it’s in relation to gender but also in the context of sexual orientation, ethnicity, religious orientation, age, disability, and so on.

As someone who literally sits between the job market and the employers, and who has done so for the past 17 years, I’ve had plenty of first hand experience in understanding the agendas of employers and the dynamic of the market applying for the roles. And while there have definitely been problems with diversity at the executive and board  level in the past, I’m pretty optimistic about the changes that are happening and the trends we can expect in the coming years.

I discuss it on this podcast, or, if you prefer, you can read a summary of the discussion below. I welcome your comments or contact via email if you’d like to continue a discussion with me.

Breaking The Glass Ceiling For Women

My interest in the subject of gender diversity was piqued a couple of years ago when I attended a gender diversity presentation run in Brisbane by Sonia McDonald, a leadership coach based here. At the event I observed a high level of angst from female attendees about the lack of opportunity or access to opportunity that they perceived in the executive market.

So I decided to do an analysis of our hires from the previous month, during which we had recruited four C-level roles (CEO, CFOs, COOs, etc.). Three of these had been in the not-for-profit sector and across the four roles, there was a total of 800 unique applicants.

In all of these cases, every employer had said that they would love, love, to employ a woman into the role and that it was mandatory that there be a good representation of women on any shortlist. However, of the 800 unique applicants, only 7% of them were women. So while demand was high, supply was low.

These employers are a typical representation of most employers I’ve worked with over the past 17 years. I can say with absolute and complete honesty that in 99.5% of instances where we’ve been recruiting an executive role in recent years, the employer when asked, “Have you a preference for a male or a female?” either said, “I have no preference,” or, “It would be fantastic to have a female take this role on to give us more diversity.”

So it is extraordinarily rare, extraordinarily rare that an employer would say, “We want a man”.

And yet, when we go to the market and we run our headhunting campaigns and we run our advertising campaigns, the level of application from women is usually very low.

One theory I’ve heard to explain this, and one that I’m inclined to agree with, is that women have a higher threshold when it comes to matching job description criteria. For example, if a job ad calls for ten different requirements and a woman only meets eight of these requirements, she is disinclined to apply because she doesn’t fulfil the entire hiring criteria.

Whereas if a man sees an ad with ten requirements and he’s only got three, he’ll still rate himself as being best person for the job so will apply.

This is obviously a generalisation but I think there is definitely some truth to that.

So I would urge women to err on the side of ‘ambition’ and apply for roles, even if you are uncertain if you meet the criteria on paper.

My peers in the recruitment industry,  and certainly employers, would encourage more female applications. They want to see your CVs. They want to consider you for these roles.

In many instances, they’re probably prepared to employ somebody who may need to grow into the role if they are a woman or have other elements of diversity to them. They want to proactively give people opportunity to achieve, which I think is absolutely fantastic.

The Changing Working Life Span

Another dynamic that is working in favour of women is the increasing life span, and thus the increasing period during which most of us can continue working.

The typical 50-65 year retirement age has disadvantaged women to date as motherhood often takes them out of the market for a significant part of their working life. In those years men have developed an experience advantage that women sometimes need to catch up on.

But as actual lifespans continue to increase (many of us are going to easily live to 100 years and much beyond), it’s inevitable that the retirement age is going to increase as well, hopefully  by choice rather than necessity. This means that the motherhood years are going to have less of an impact on the overall careers of women in relation to men.

Proven Performers

Historically women may have had to work harder to prove their ability to perform at executive levels. Thankfully those days are behind us and there is plenty of evidence that women perform equally as well and in many cases, better than men, at the highest level.

I’ve been fortunate to interview many successful women executives on the Arete Podcast; Merren McArthur from Virgin, Andrea Staines from Transport NSW, Fiona Berkin from Morris Corporation among others. There is plenty of evidence of women being able to take on and deliver outstanding results as CEOs or as Board Directors.

The appetite for female executive talent and the level of proactive desire to promote female executive talent is unprecedented, thus I urge women to take advantage of this climate and to meet that desire halfway by applying for more roles, even if you don’t feel you meet all the criteria.

Breaking The Bamboo Ceiling

Of course diversity is about more than just gender. Ethnic background is another important component of the diversity spectrum.

One example that’s particularly applicable to the Australian market, given our increasing Asian population and our proximity to Asia, is ‘the bamboo ceiling’, a term I first heard about 12 months ago. The bamboo ceiling refers to the relative lack of Asian representation in senior and board roles in business.

Boards and C-level executives are beginning to understand the importance of having people on the team that are more representative of the local population and the trading environment that we’re working in, so hopefully that’s another barrier that will become a thing of the past in the very near future.

Male, Pale and Stale

Despite the perception that men in their fifties or older have an advantage when it comes to recruiting for board roles, I can say from experience that they are now often finding it harder to find a role than in the past. It’s not uncommon for me to hear them say they can’t get board roles because they don’t meet the diversity criteria that boards are often looking for.

There is definitely truth to that. When organisations go to the market and advertise board vacancies, when they brief board recruiters about vacancies, they will often stipulate, “We need more diversity. We want you to attract talent other than older white men.”

Having said that, boards have a duty to their stakeholders, their shareholders, to have the best quality of talent on the board in order to achieve the best outcomes for the business.

This means boards do need to take experience into consideration but it does not mean you should hold back on applying if you don’t think you have the experience to match a pale, stale, male. Diversity and experience both have value so leverage either or both if you have them.

Getting A Jump On The Market

Regardless of any factors you may have in your favour, one thing I always say to executives is that the best advantage you can have is the early starter’s advantage, especially when it comes to board roles.

What I mean by this is, don’t wait for a vacancy to be advertised before approaching an employer of choice. Get in front of the employer before they even know they need you.

You don’t want to be engaging once they’ve already gone to the market to fill the board role. Instead, you want to build a relationship with the Chair before they know they need you so that when the board vacancy becomes available, you are logical first choice.

If you’ve built a relationship in advance with the Chair and the board based on your key achievements and transferable skills and a board vacancy becomes available, they won’t care if you’re male, female, what age you are, what sexual orientation you are, or what religious orientation you are. They want top talent in whatever shape or form that talent takes.

They’ll want to hire you but they can’t hire you if they don’t know you, so once they go to market with a vacancy it’s too late. At that point you’ll just be a face in the crowd of 200 or more applicants.

But if you’re in front of them before they go to the market, you’ll be considered on your own merits and maybe even give them good reason to not go to market in the first place.

So whether you’re a senior executive or a board executive, my strongest recommendation to you is to get in front of your employers of choice, using LinkedIn as a tool for introduction, picking up the phone, ringing them, asking them for a meeting and becoming somebody that they realise may be the best talent for their future operations.

Key Achievements Plus Transferable Skills = Successful Executive Job Search

Key Achievements Plus Transferable Skills = Successful Executive Job Search Arete Executive

As a candidate looking for a new executive role, it’s incredibly important for you to be able to articulate your key achievements and transferable skills.

Having worked in the recruiting industry for many years and having interviewed and coached thousands of candidates and senior executives through their job search, this is something I’ve seen people do very well. But for whatever reason, I don’t think Australians are natural self-promoters.

Intact Group Regional Operations Manager – A Headhunting Success Story

Arete Executive

I’ve been asked by a few people lately how our headhunting process works and for a peek behind the curtains so to speak. The best way to describe the process is with a case study…

Best Practice Strategies for Attracting Top Executive Talent Through A Detailed Brief

Best Practice Strategies for Attracting Top Executive Talent Through A Detailed Brief

A detailed brief is a critical element when recruiting for a new role. This doesn’t just include executive roles, it’s pertinent to every role in a business, including junior positions.

Having worked in the executive recruitment industry for about 17 years now, this is something I’ve rarely seen done well. In most instances, the person who is recruiting a role, whether they are a third party recruiter, an internal human resources professional, or even an executive leader charged with the task, they will often produce a position description, a brief overview of the role and the reason for it becoming available, etc., but rarely do they actually get in and thoroughly explore what the actual key deliverables of the role are.

Building a high performing team: lessons from our Commonwealth Games athletes

With today marking the start of the 2018 Commonwealth Games, we find ourselves reflecting on the lessons our competing athletes can teach us about high performing teams in the workplace. Striving for excellence both individually and together as a team, they demonstrate the amazing results that can be achieved when passionate, committed, and fully engaged individuals share a common purpose.

While the business benefits of a high performing team are obvious – greater productivity, profitability and performance – it can also give your employment brand a competitive edge, helping you attract and recruit the right talent even in a candidates market.

Here are four tips on building a culture of high-performance, to attract and retain the best candidates:

Create healthy competition

Healthy competition can have many benefits in the workplace. It pushes your team to be the best they can be, increasing innovation and performance while also providing opportunities to learn valuable skills and lessons along the way. It is through healthy competition that we evaluate our strengths and weaknesses, and develop the motivation to excel.

Healthy competition also boosts creativity; think of how much more creative a team can be when they are competing for a bonus or trying to win a client account. Ashley Merryman, the co-author of Top Dog: The Science of Winning and Losing, sums this up well, “Whether professional musicians or school children, studies have shown competition fuels creativity and even improves the quality of the work produced. More than that, the skills that make you a great competitor – such as a willingness to push boundaries, trust one’s instincts, problem-solve – those are the same skills needed for innovation.” 

How a regionally based leadership role can accelerate your career

When changing your career path or considering roles you have been headhunted for, it can be easy to play it safe and say no to opportunities that take you interstate or to more regional areas.

However, in a recent Forbes article it was said, One of the biggest job-search mistakes you can make is to play it safe. The more you look and sound like every other job seeker, the worse your job search experience will be.”

Taking the path less travelled can have big payoffs for your career. Here are four ways that saying “yes” to a regional leadership role can help you climb the ladder faster.

International Women’s Day: What advice would you give your younger self?

Observed since the early 1900’s, the theme for the 2018 International Women’s Day is #PressforProgress, no doubt due to the release of the World Economic Forums’ Global Gender Gap Report showing that it will take 217 years to close the gender parity gap.

To celebrate this important day, we sought advice from our network of female business leaders and previous podcast guests asking What advice would you give your younger self?” Spoiler alert – their advice is a must-read for all current/aspiring executives of all genders.

Get out of your comfort zone

Why you need to find the best candidate IN the market not ON the market

 

When seeking to fill an executive role it can be easy to fall into the trap of thinking that the best candidate is on the market actively seeking the position you need filled. While it can certainly work out that way in some cases, the truth is most of the time the best candidate is busy in the market doing what they do best.

To find the right person for the role, your recruitment process needs to go beyond passive advertising and move into the realm of executive search (often referred to as “headhunting”) where you actively seek out the best candidate.

Not convinced? Here are four reasons why you need to find the best candidate in the market not on the market.

New Year, New Career – 6 tips for the Executive seeking a career move

You’ve said goodbye to 2017, had a Christmas break and decided that 2018 will be the year of change. So, what can you do to ensure that you do have the best opportunity for a new career role?

First and foremost, realise now, more than ever, we have the tools at our disposal to get proactive, take control, “know more people” and open that hidden door to the next role.

1.    If you haven’t already done so, read Richard Triggs Book, “Uncover the Hidden Job Market, How to find and win your next Senior Executive role.”   

2.    When you apply to a job advertisement, it’s probably already too late. 

Seasons Greetings

Seasons Greetings from the Arete Executive Team

 

 

 

 

 

 

 

 

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Workplace of the future & employment options

Richard was recently invited by the UQ Business School to speak with the MBA students about the workplace of the future and  employment options. UQ Business School has kindly allowed us to share their recording of this presentation. If you do have any questions or comments please don’t hesitate to contact Richard on

Email: richardt@areteexecutive.com.au

We hope you enjoy this presentation.

All I want for Christmas… is a new job!

xmas

Many of us arrive at the festive season wondering how the year has flown by so quickly. Between our work commitments and our everyday world of family we hit the end of year with a sudden thud!

The year has got away from us yet again. Many make a new years’ resolution that they will not continue with the pace of the previous year or will change companies or seek a promotion. The reality is that for a large percentage the change doesn’t come. We get stuck in the cycle and continue as we have done the previous year.