Retaining top women business leaders: strategies for ending the exodus

Abstract

PurposeThis research‐based article explains why top women leaders still feel like outsiders in their organizations, and identifies strategies for retaining and supporting women in leadership today.Design/methodology/approachThe author conducted research through individual interviews with 40 successful women – COOs, VPs, directors, and senior managers – who have broken through the “glass ceiling.” These women represented industries including pharmaceuticals, health care, manufacturing, high tech, and higher education in the USA and Europe. By identifying the reasons for these leaders' dissatisfaction, I hoped to help stop the exodus of successful women from their organizations by helping them find greater satisfaction in the leadership roles they have achieved and by helping organizations to change in ways that will make a difference.FindingsThe main impetus for women leaders' dissatisfaction is that they do not feel fully integrated as leaders. This dissatisfaction derives from not fitting in as equals in the leadership ranks, a lack of networks, and low social capital experienced by these women leaders. The article calls for a new corporate culture based on integration rather than inclusion.Research limitations/implicationsThe article is based on a qualitative research study conducted using one‐on‐one interview methodology. It is not statistically significant.Practical implicationsThe article discusses specific strategies for retaining and developing women leaders to help to solve the current critical gap in leadership. These include reducing isolation, developing networking opportunities and creating a culture of integration – critical to retaining women at the top. Individual, team and group coaching can be a successful and cost‐effective solution.Originality/valueMost research on women's leadership focuses on famous women leaders and CEOs or is conducted as survey research, but this article discusses leadership from the personal perspective of “ordinary women” who have made it to the top.