Leadership

6 Meaningful Ways to Empower Women in Leadership for a Brighter Future

Celebrating International Women’s Day at work isn’t enough to make your organization a fertile place for women to grow in their careers. Women need access to continuous leadership development and professional growth opportunities to thrive in leadership positions. This includes formal training programs, leadership workshops, and executive coaching.

Many organizations now offer leadership development programs tailored specifically for women. For example, IMD’s leadership experiences help women enhance their skills in decision-making, strategic thinking, and emotional intelligence.

These programs prepare women for roles like president, vice president, or C-suite executive. Leadership skills such as innovation, resilience, and team-building equip women to lead confidently.

This guide offers insights into the benefits of empowering female leaders and how to do so for a more inclusive future.

  1. 6 tips to break barriers for women in leadership
  2. Success stories driving change
  3. Drive lasting change in your company by empowering women leaders

6 tips to break barriers for women in leadership

Women leaders are making significant strides in various industries, but the numbers still tell a story of inequality.

According to a 2023 McKinsey report, women make up just 28% of senior management roles globally. Even though there has been progress, particularly in recent years, women are still underrepresented in top leadership positions. In fact, in the Fortune 500, only 10% of CEOs are women – a stark reminder that the glass ceiling still exists.

Below are effective ways your organization can support women in leadership and help break down the barriers they face in their careers.

1. Overcome gender bias

Despite the impressive gains, women in leadership continue to face systemic barriers that prevent them from advancing at the same rate as men. Gender bias, both conscious and unconscious, is among the most significant challenges.

For instance, the research from McKinsey highlights that women are often judged more harshly for assertive behavior or decisiveness – traits that are praised in their male counterparts.

To create a truly equal playing field, organizations need to actively address these biases. This can be done through:

  • Bias training. Companies should invest in training that helps employees recognize and reduce unconscious biases. This helps create a more level playing field, ensuring that decisions around promotions and opportunities are based on merit, not gender.
  • Policies promoting gender equality. Transparent and accountable policies, such as equal pay initiatives, clear promotion guidelines, and diversity recruitment goals, can help ensure that female leaders are given the same opportunities as men.
  • Emotional intelligence. Emotional intelligence is a crucial leadership asset in any industry. Organizations that cultivate emotional intelligence in their culture enable leaders to navigate challenges with empathy, resilience, and effective communication.

We’ve seen successful examples of gender equality initiatives from companies like Goldman Sachs, which pledged to increase the number of women in its leadership teams through proactive recruitment and mentorship initiatives. These efforts are beginning to shift the narrative around women leaders and help pave the way for a more inclusive future.

2. Connect women with mentors and role models

One of the most effective ways to empower women leaders is through mentorship. The guidance of experienced female leaders and male allies can help women navigate the complexities of leadership, offering advice and providing critical support.

Studies have shown that women with strong mentors are more likely to pursue and achieve leadership positions. Formal mentorship programs are especially powerful because they provide structure and consistency in building these important relationships.

Mentorship helps women in multiple ways:

  • Career guidance. Mentors help women navigate the corporate ladder, offering insights into how to overcome barriers and seize opportunities.
  • Confidence building. Having a mentor can help women leaders develop the confidence they need to assert themselves in challenging environments.
  • Network expansion. Mentors can introduce female leaders to valuable networks that will support their long-term career growth.

Prominent role models, such as Sheryl Sandberg and Ursula Burns, have led by example, demonstrating how critical mentorship is for female leaders. Their success stories show how mentorship can help break through barriers, inspiring future generations of women leaders.

3. Offer women’s leadership development programs and resources

Continuous leadership development is crucial for women to thrive in leadership roles. While formal education plays a role, practical experiences, workshops, and professional development opportunities are equally important.

Organizations that invest in leadership development programs for women see significant benefits. These programs allow women to sharpen their leadership skills and develop critical qualities like decision-making, strategic thinking, and resilience.

IMD’s learning experiences are designed to support female leaders at every stage of their careers. These programs focus on helping women grow their skill sets, whether they are aiming for vice president roles or preparing to lead entire organizations.

Leadership programs help women gain the confidence and skills needed to succeed in senior management roles by offering personalized coaching, peer support, and hands-on leadership exercises. Access to role models and mentors through these programs can further accelerate their journey to leadership.

4. Cultivate work-life balance and well-being for female leaders

For women in leadership, achieving a healthy work-life balance can be one of the biggest challenges. Balancing professional responsibilities with personal life – particularly for people with caregiving duties – can be difficult.

Organizations must address this challenge by offering policies and programs that support the well-being of their female executives. Flexible work policies, paid parental leave, and access to childcare services are some of the DEI initiatives that can help women manage their responsibilities both at work and at home.

Unilever has led the way by creating family-friendly policies that promote well-being and retention of their top female talent. These initiatives ensure that women aren’t forced to choose between leadership opportunities and their personal lives.

Burnout is another concern to address. Many women leaders feel more pressure to prove themselves in male-dominated environments compared to male leaders, leading to overwork and stress. Organizations must actively promote well-being by creating supportive environments that encourage balance and offer resources for managing stress.

5. Champion gender diversity in leadership teams

The value of gender diversity in leadership cannot be overstated. Studies have shown that companies with more diverse leadership teams are more innovative, make better decisions, and outperform their competitors. This is because diverse teams bring different perspectives and ideas to the table, leading to more creative solutions.

Gender diversity fosters an inclusive environment where all voices are heard, and this drives positive change within organizations. For example, research from McKinsey has demonstrated that companies in the top quartile for gender diversity on executive teams were 25% more likely to have above-average profitability.

Initiatives like the 30% Club, which advocates for 30% female representation on corporate boards, have gained traction in promoting women leaders. These programs encourage companies to set measurable goals and take actionable steps toward increasing diversity.

6. Promote networking

Networking is a powerful tool for empowering women in leadership. It offers valuable opportunities to connect with mentors, share accomplishments, and foster collaboration. By actively engaging in career-focused networks, women can build strong support systems that drive their professional growth and contribute to a more inclusive leadership landscape.

LinkedIn has become an essential platform for highlighting the professional accomplishments of female leaders. Women are increasingly using this platform to share their leadership skills, network with mentors, and build stronger support systems. Women in leadership can leverage social platforms like LinkedIn to create a more robust network that supports the advancement of female leaders worldwide.

women in leadership

Success stories driving change

Many female leaders have proven that women are more than capable of leading industries to new heights. For example:

  • Whitney Wolfe Herd, CEO of Bumble, became the youngest woman to take a company public at age 31, revolutionizing the tech industry with her women-first approach to social networking.
  • Gail Boudreaux, CEO of Anthem, leads one of the largest health insurance companies in the U.S., exemplifying the impact women leaders can have on the health care sector.
  • Dr. Lisa Su, CEO of AMD, and Anne Wojcicki, co-founder of 23andMe, have become icons of what’s possible when women break through barriers and lead with vision and strength. These women represent the growing number of female entrepreneurs who are changing the face of leadership in industries historically dominated by men.

However, while success stories like these are inspiring, they are the exception rather than the rule. Women continue to face challenges, particularly in leadership teams where biases and outdated stereotypes remain obstacles. This highlights the need for more inclusive practices and a stronger emphasis on leadership development for women across all sectors.

Drive lasting change in your company by empowering women leaders

Empowering women in leadership is key to creating a more inclusive, innovative, and prosperous future. By addressing gender biases, supporting mentorship, and investing in leadership development, organizations can help female leaders reach their full potential.

At IMD, we are committed to helping women leaders succeed through our learning journeys and programs. We believe in empowering leaders to drive positive change and create a lasting impact on their organizations and communities.

If you’re ready to take the next step in your leadership journey, explore our “Women on Boards” program. Together, we can continue to break barriers, promote gender diversity, and empower women leaders for a brighter future.

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