A significant part of successful business strategy and planning involves finding new executives to lead the company into its next stages. Many such efforts are female-focused, with those involved hoping to advance more women to leadership roles. However, locating and attracting the right people takes time, mainly because candidates must have the appropriate skills and backgrounds to fit into the organization’s culture. What should those involved aim for in their female-focused executive recruitment strategies?

Acknowledging Female Leaders in the Business Strategy and Planning Activities

Women still fill the minority of C-suite roles, but executive recruiting efforts can and should start to change that. Progress begins by identifying the barriers that may make females less likely to accept or become candidates for leadership positions. It is also necessary to track larger societal trends to see whether things are going in the right direction.

A 2024 study suggests slow progress, recording only 0.5% growth in women’s representation for leadership positions in the previous year. Additionally, females held only 11.8% of C-suite roles at the approximately 15,000 publicly traded brands examined in the research. Women are frequently underrepresented elsewhere, too — they account for only 10.9% of people working in construction.

However, the picture is not universally bleak, and women have become more prominent parts of the executive recruiting strategy in some industries. Research published in 2023 about supply chain executives showed women now fill 26% of leadership positions — an all-time high and an increase from 2022’s 19%. The study also revealed that when more women fill the top roles, there are more females within the organization as a whole.

Including female leaders in the business strategy and planning processes is an excellent way to position a firm as progressive and inclusive. Additionally, companies can regularly review their DEI strategy and commit to pay equality to reduce the wage. These are just some of the ways to have a positive impact on all current and prospective employees. When women see organizations reflecting their ideals and notice fellow females enabling those characteristics, they will be more likely to want to lead those enterprises.

Knowing When a Search Firm Fits Into the Executive Recruitment Strategy

Expertise from professionals at executive search firms can bolster your efforts to fill internal leadership roles with capable women. These representatives can use their networks and skills to save you time and increase overall success rates.

However, it is necessary to vet such brands thoroughly before using these services. Learn about the company’s reputation and how long it takes to find suitable candidates on average. The more details you can get, the easier it will be to decide if the offered capabilities are worthwhile. Perhaps a business has achieved a high fill rate for a service. How does that compare to other recruitment packages from that service provider or elsewhere?

Those involved in the strategy and planning activities concerning executive hiring must understand that the overall time frame depends on the hiring pool size and the position’s complexity or requirements. However, using an external service provider for leadership recruiting can streamline the process through dedicated experience and insights.

Prioritizing Women’s Leadership Development

Successful efforts to find new internal leaders may require setting goals that emphasize improving the women’s leadership pipeline. That is especially true since statistics indicate not enough companies have taken that approach.

According to a 2023 study of 2,500 enterprises in 12 countries and 10 industries, only 45% of respondents had created formal business priorities for female leadership advancement, although the companies had achieved modest relevant increases. More specifically, compared to 2021’s figures, the research data showed a 12% rise in women filling C-suite and board member roles.

However, a more worrying finding was that the percentage of females in vice president and senior vice president roles remained lower than in 2019. Those polled in the 2023 research also cited the COVID-19 pandemic as the most serious disruption affecting women, causing immense and lasting issues for them.

For example, although post-COVID initiatives for women’s career development have included networking groups and diversity training, unconscious biases persist. For example, one question in the 2023 study asked whether females with dependent children were as dedicated to their jobs as those without. Most respondents agreed they were, but only 40% of male managers did. Such perceptions could restrict women’s leadership development, but prioritizing progress could make people more aware of such issues and motivate them to make lasting perceptual changes.

Embracing Flexible Working Arrangements 

Organizations can take women’s leadership development more seriously by establishing working agreements that let people split their time between their workplaces and home offices. A 2023 report on international businesses showed that although progress regarding the number of women in leadership roles had increased, such improvement happens too slowly. However, those involved with the research believed an openness to hybrid working could increase the momentum.

The researchers looked at female leadership within mid-market businesses, finding that women held 29% of senior leadership positions in such organizations with predominantly office-based working arrangements. However, females had 36% of such roles in companies offering fully flexible working arrangements. Even when the businesses offered hybrid opportunities rather than complete flexibility, women were in 34% of leadership positions at those workplaces. 

The researchers clarified that companies failing to offer flexible working possibilities forced women to look for part-time work, potentially stifling their career progression. Additionally, females in senior leadership roles tend to find companies with flexible working arrangements more attractive than those without them. Adding those to your company benefits or expanding current programs could connect to women’s leadership development efforts. 

Find Female Executives More Effectively

An executive recruitment strategy to find more female leaders must accommodate an enterprise’s current position, growth plans and overall goals. However, the above tips are increasingly important for attracting well-qualified leaders who are highly equipped to take an organization to the next level. Including them in your recruiting plans will produce more worthwhile outcomes.