
By Ella L. J. Edmondson Bell, Ph.D,
Author of Career GPS: Strategies for Women Navigating the New Corporate Landscape
For the first time in history, women are less than a percentage point away from making up the majority of the national workforce. The economic downturn has hit men harder. They held nearly 80 percent of jobs that have been lost during what is now being called the “mancession.” What’s more, some of the highly educated, high powered women who “opted out” of corporations starting in the nineties to raise children and take care of ailing elders have returned to the work.
So what does this new female-dominated workplace mean for the corporate culture and the nature of work? Will we see a feminist Nirvana, filled with benevolent leaders? Will the new workplace be more kumbaya and less “off with their heads?”
Time for a reality check:
1. There are still few women at the top: There are scant few women heading large companies and who have jobs at the top. This year a record number of women are CEOs of Fortune 500 companies — but you still don’t need all of your fingers and toes to count them. (You don’t even need all of your fingers to count those running Fortune 100s.)
2. Women-run companies have increased stocks: USA Today reports that stocks of the 13 Fortune 500 companies run by women for all of 2009 were up an average of 50 percent. The biggest female winner was Mary Sammons, whose Rite Aid stock soared 387 percent!
So, yes, women can keep investors happy, but what about everybody else at the company? Does an estrogen heavy corporate culture emphasize relationship building over backstabbing and throat slashing? Has a surge in female leadership triggered new corporate policies that favor work life balance over the 24/7 grind? Is there less conflict, more “talking it through?” And have women brought in other women, so that the flood gates are open and unbelievably talented women are pouring into management positions?
3. Woman still have tough corporate challenges to face:
- Many companies are barely weathering the economic storm.
- There is little time to radically change their corporate cultures. Leaders are putting out fires instead.
- There is not a secession pipeline for women streaming into upper management positions.
- Women continue to make less than men and are clustered in the lowest salaried jobs.
Now that there are more women in the workplace, in positions of leadership and even as CEOs, we can feel hopeful. But it’s important to keep it real and manage our expectations. While some women leaders may be able to redefine their roles, usher in a more authentic and transparent leadership style and emphasize work-life balance, changing entrenched corporate culture is not easy. Even when you change the leader, the stubborn culture can remain exactly the same.
Will women become the new men? It’s hard to tell. The downsides to women’s new workforce power are: Stress, pressure, exhaustion, burn out and heart attacks — exactly what used to kill hard-driving corporate men and sometimes still does.
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© 2010 Ella L. J. Edmondson Bell, Ph.D, author of Career GPS: Strategies for Women Navigating the New Corporate Landscape; reprinted with permission.
Ella LJ Edmondson Bell, Ph.D., author of the new book, Career GPS: Strategies for Women Navigating the New Corporate Landscape (Amistad), is the founder and president of ASCENT-Leading Multicultural Women to the Top, as well as an associate professor of business administration, Tuck School of Business at Dartmouth University. For more information, please visit www.CareerGPSthebook.com.
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