Why Confidence May Be the Missing Ingredient for Women in Leadership
Insights from Top Female Executives on Reaching the Summit
The room fills quickly. Mostly women, but a few men take a seat, too. The panel discussion with the title: ‘Elevating Women’s Leadership and Impact in Insurance’ isn’t only for women to hear, even though it is about them.
On the stage, three top female leaders are ready to share their insights with the audience. Here is what I have captured from the discussion:
Marguerite Soeteman-Reijnen
She is Former Chairman of the Executive Board of Aon Holdings B.V. and Aon Group International B.V. (part of Aon Plc; NYSE AON) and other Holdings entities in the Netherlands and Global Chief Marketing Officer and Member of the Executive Committee of Aon Inpoint. Marguerite has over 33 years international experience in the financial services and insurance industry. Club of 100 Global Women Leaders1
Marguerite recommended finding a champion for you in the boardroom by sharing your ambitions and asking for help. She stresses that you are in charge of your own destiny; nobody will come and take you by the hand to the top, especially if they don’t know that this is what you want.
Marguerite also mentions that excellence in leadership needs to be redefined from command of control to being a leader of people and what they need to be at their best. This includes, in addition to pregnancy and maternity leave policies, policies that address menopause, recognizing the misalignment between the biological clock and the career clock.
She invited women to reach out, connect on LinkedIn and ask women on the top for advice.
Pravina Ladva
Currently, Pravina Ladva holds the position of Co-Chief Operations & Technology Officer at Swiss Re AG. Ms. Ladva is also on the board of iptiQ Life SA. MarketScreener2
Pravina recommended being authentic since you get tired if you are not. She also encourages women to use their female powers of curiosity and empathy and mentions in this context that a study by Zenger and Folkman3 suggests that women outperform men in 17 of 19 traits that make leaders excellent.
Pravina asks women to have conversations with other women, be courageous and take opportunities. But most of all, she stresses that women should support each other irrespective of the level they are at within an organisation.
Her closing thoughts are about being purpose-led. Know the answer to the question: What is my 'so what'?
Amélie Marie Breitburd
Amélie Marie Breitburd is on the board of CNP Assurances SA, AXA Equity & Law Plc and AXA China SA and Managing Director at Lloyds TSB Dubai.
In the past she occupied the position of Chief Executive Officer of Lloyd's Insurance Co. SA. Market Screener4
Amélie suggested building internal networks, being part of focus groups and learning from senior leaders. Asking them how they managed the challenges they encountered can give you insight into how you can approach them yourself. She shared a particular experience when she moved with her family from Paris to Hong Kong. This can be stressful for women, but others have done it before. Talking to them can help build confidence that such a career opportunity is possible because other women have done it successfully without compromising their responsibilities within the family.
Amélie leaves the audience with a call to lead by example with a reminder to include others. Adopting 'I see you' from the Avatar movie as a mantra could guide us to ensure we see and include everyone.
The Role of Men
Until recently, we have lived in a man’s world. Historically, men had careers while women managed the household and cared for the family. Only within the last hundred years have women gained rights such as voting, owning property and opting to focus on their careers. Many women have fought their way into top leadership positions and demonstrated their fitness and effectiveness in such roles with high responsibilities. Yet, the ratio of women on boards and executive teams is still low.
It may not be a lack of proven effectiveness that hinders women from rising to top levels but a lack of confidence, consideration of family commitments and becoming tired of constantly having to prove themselves to the men. Both men and women should encourage women with leadership capabilities to put themselves forward for opportunities to move up. Men, who still have a majority in boards and executive teams, can lead by example to identify high-potential talent and champion them for the next promotion.
High-potential future female leaders may benefit more from support in developing self-belief and trusting their ability to reach the top executive level, compared to other leadership development areas. They simply may need a sponsor as, according to Leadership Communications Expert Jovina Ang5, the sponsorship approach “can serve as an effective alternative leadership development strategy for women especially to develop the skills on the leadership strataplex, as well as confidence and executive presence.6”
Unlike women-only development programs that might invite perceptions of political inappropriateness, it can serve as an effective alternative leadership development strategy for women especially to develop the skills on the leadership strataplex, as well as confidence and executive presence. Furthermore, this type of development can help women to develop their leadership identities and a leadership mindset. Jovina Ang on Career Sponsorship
So, How do Women Make it to the Top?
Based on what I have learned, there is a mix of many things that can help women make it to the top. Here are the essential ingredients:
Ambition - It’s the fuel to make it all the way.
Leadership capabilities - Talent is not enough, it needs to be developed by leading through achieving challenging objectives in complex environments and with diverse teams. This includes all leadership traits that foster inclusive, psychologically safe and sustainable work environments.
Support - People never make it to the top alone. The more support the better the chances. This includes the support of teams, sponsors, mentors and most importantly the family.
Self-belief - The trust that a position on the board or in the executive team is possible.
Courage - It takes courage to do the right thing, ask for help and share an ambition.
The recipe for reaching the top isn't a secret - it's the same for everyone. By closing the confidence gap, women can leverage their proven leadership capabilities and climb all the way to the summit.
LinkedIn Profile Jovina Ang https://www.linkedin.com/in/jovinaang/
The Game Plan of Successful Career Sponsorship: Harnessing the Talent of Aspiring Managers and Senior Leaders by Jovina Ang, Emerald Publishing Limited, 2019 https://books.emeraldinsight.com/page/detail/the-game-plan-of-successful-career-sponsorship/?k=9781787562967
Career sponsorship: An effective way for developing women Career sponsorship: An effective way for developing women leaders, Jovina ANG, Singapore Management University, jovina.ang.2012@phdgm.smu.edu.sg https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=7243&context=lkcsb_research