Executive Leadership: Diversity in C-Suite
Within executive leadership, are we seeing more diversity in C-Suite positions? 2023 is here, with diversity & inclusion continuing to be a big topic with executive search.
We are definitely beginning to see a positive change within businesses, who are prioritising diversity hiring effectively. Greater care is being taken to reduce gender, racial, sexual orientation and religious bias. However, does this go all the way to the top of the company hierarchy?
So, we wanted to look at why this remains an important talking point for the year ahead and investigate if the C-Suite is as diverse as the teams they lead.
Why diversity in executive leadership is important
We should start by saying diversity & inclusion is important full stop. Today, we will be looking at its importance within a business leadership team. In 2023, the diversity of great talent is widespread. Furthermore, people are so much more vocal about equality, rights and being treated as a human being. The best candidates will want to see this in executive leadership teams and will apply to companies where they see this diversity.
A diverse leadership team will have a much greater sense of awareness too. Being able to take the experiences of people from a whole range of backgrounds will not only help understand the employees, but the customers you are trying to reach too. Furthermore, a diverse collective can take innovation to new heights, creating an executive team who value ideas, collaboration and listening to the viewpoints of others.
This will only work to improving productivity and positivity. These are foundations you should want for your team, meaning success for all involved. Will 2023 be the year where companies achieve this?
Is there work to do in 2023?
An important point to note for diversity in hiring is that it should be an organic process. No one wants to join a team just to be a diversity hire. Companies therefore need to show that this is not the case in 2023. It’s about showing how they have removed the barriers that underrepresented groups have faced and allow them to secure a career on their own merit.
Looking at some well-known companies, it is interesting to see the diversity goals they have set for themselves. For example, Pinterest has vowed that ‘by 2025, we will be increasing the number of women in leadership by 20%’. Meanwhile, Salesforce plan to ‘Double our U.S. representation of Black leaders and increase our representation of underrepresented minorities (Black, Latinx, Indigenous, and Multiracial) by 2023.’
It is promising to see big companies making these goals. Our very own Head of Executive Search and Senior Appointments, Emily, is passionate about diversity in the tech industry. Having recently spoken about women in the industry, further research showed that the glass ceiling for women in tech is finally starting to crack. According to research by Deloitte, women’s share in the overall global tech workforce has increased 6.9% from 2019 to 2022. There is also expected to be a 4% rise of women in large technology firms holding senior leadership positions.
These small steps can make a huge impact on underrepresented groups. However, the work towards a diverse and inclusive senior leadership workforce should never tire. All companies should be prioritising this in 2023 and beyond, now that promising foundations have been set.
Can we help your executive leadership team?
Whether you are hiring new employees or a new senior member of the leadership team, we can help. Submit your vacancy today and we will be in touch to discuss your 2023 hiring needs!
