Ambition, supportive partners, and good managers and mentors were essential to these women executives’ success.
Ambition, supportive partners, and good managers and mentors were essential to the 27 women executives that contributed to the latest whitepaper from Hay Group: Learning from their Success.
The research was undertaken for three key reasons. Firstly, the representation of women at higher levels in organisations in the Pacific lags behind other Western countries, according to Hay Group. “Goldman Sachs has calculated that closing the gap has the capability to raise the Australian GDP by 11 per cent,” the whitepaper found.
In addition, current skills shortages mean that business leaders need to ensure that talent management processes are effective, and that they consider all future talent. Thirdly, Hay Group has conducted research that demonstrated the tangible and positive impact that having women in senior roles has on an organisation’s performance.
Hay Group invited 27 women in executive roles in a range of industries to analyse their success in intensive, behavioural interviews that lasted 1-3 hours. The research was conducted between May and August of last year.
“Particularly, we wanted to understand how successful women made significant career transitions as well as to identify the critical competencies that contributed to their success,” the whitepaper reads.
Key findings:
Hay Group’s key recommendations: