In a Nutshell: What happens when a public company hires a woman as their new CEO? According to my guest today, research shows that company’s stock usually drops. Women don’t fit the stereotype of the “tough” CEO who’s going to whip a business into shape and inspire confidence on Wall Street — in part, because Wall Street is too used to seeing men in the CEO role. But research also shows that it doesn’t take long for that stock price to equalize and go up as women CEOs harness their unique empathy, vulnerability, innovative thinking, and appreciation for diversity to lead their companies to new heights.
My Key Takeaways:
- Institutions move slowly but as CEO you can move right now to diversify your team and create a more dynamic culture.
- Hire for growth. Compared to white men, women and minorities often aren’t given similar workplace opportunities that make a resume sparkle. Appreciate how a candidate’s soft skills could help them grow into a position and transform your company.
- Diversity isn’t just “nice,” it’s good for business. 50% of consumers and 50% of the workforce are women. If you don’t diversify what your company and customer base look like, you’re limiting your potential.
- Historical and cultural biases that continue to limit opportunities for female CEOs and entrepreneurs.
- The leadership traits and outside perspective that women can bring to executive roles.
- How the “glass cliff” explains market reactions to new female CEOs and limits future opportunities for women to lead big companies.
- A fascinating test you can take right now that reveals differences in how men and women show empathy.
- Why Julia believes communal leadership and adaptability are essential for businesses to succeed right now.
- Julia’s tips for men who want to help level the playing field and create more opportunities for women.
Complementary podcast: As she reflected on her four-decade career in financial services, Securities America’s Janine Wertheim discussed how opportunities for women have improved and how to maintain that positive trend. Listen/read here.