Gaining a World View of Women in Leadership 2024

As individuals and businesses reflect on the sentiments of “Inspire Inclusion” this International Women’s Day, we spoke with Signium Partners in three key economies to uncover the dynamics of diversity, equity, and inclusion (DE&I) in local policy and practice.

“Imagine a gender-equal world…”

These are the opening lines on the International Women’s Day website, and the introduction to this year’s creed, which centers on the theme, Inspire Inclusion. With DEI a global trending topic, we were keen to explore the realities that organizations and women are facing in different regions and cultures of the world when leveling the gender leadership balance.

We spent time talking with executive Partners with Signium Italy, Greater China, and Germany to examine the reality of progress for females in leadership in these key markets.

Persistence is Critical for Change – It Just Takes Time

Over the past few decades, gender equality initiatives have centered primarily around creating awareness. Perhaps placing our trust in the human spirit to ‘do what’s right’, we believed for a while that raising awareness would be enough and that those with the means to drive change would subsequently spring into action.

Although we’ve made leaps and bounds in progress, time has taught us that intent and accountability are the only catalysts of true transformation. The good news is that in many regions, executive leaders are beginning to take responsibility for this movement in their own spheres of influence, as shared with us by Carolin Fourie, Managing Partner with Signium Germany in Munich.

“I see progress,” says Fourie. “In some challenging industries – highly technical industries – we are seeing more CEOs specifically asking for female candidates, only. It’s a significant stride forward for Germany, which has actually fallen behind on DEI in general.”

Fourie goes on to elaborate that the true challenge is in finding the right candidate who has the technical skills for the role. “I’ve never fully embraced the quota discussion. The best placement is the most qualified candidate, irrespective of gender. The quota discussion casts doubt on every woman’s recruitment or promotion into executive management. The people around her will always wonder if she secured the role for her ability, or for her gender. We have to change the parameters to simply allow women to choose and manage their careers.”

Elaborating on this, Patrizia Ghiazza, Partner at Signium Italy in Turin, urges women to pursue careers in STEM (science, technology, engineering, and math), and not to be bullied or intimidated into ‘female-dominated skills’ like HR, legal, or communication, as these are staff positions. “If you don’t study and you don’t follow business positions, you will not have the power tomorrow. What we’ve seen in our work is that those who possess the knowledge that drives an organization are the ones who end up holding the power of leadership. To achieve CEO positions, we need to follow Sales, Marketing, Technical, Engineering, or Manufacturing careers”

Ghiazza goes on to express mixed feelings about gender equality in Italy. While noting that organizational boards have comprised one-third of female board members for more than a decade, she points out that this has not translated into transformational change at the executive level.

“Of our 40 major listed companies in Italy, only one has a female CEO,” says Ghiazza. “All those female board members may have some influence. They might help to coordinate and organize… but they hold none of the executive power to make decisions and actually lead. It’s a battle only half-won.”

Both Fourie and Ghiazza also comment on the impact that family demands have on women’s potential to lead. Ghiazza explains how women rein in their own ambitions: “The female talent pool provides the skills needed in some sectors. But even if they have the qualifications and the experience, most women do not raise their hands to apply for promotion, because they don’t believe that the corporate demands would allow them to balance their personal life and the demands that they face at home as primary caregivers.”

Weighing in from the Far East, Angus Leung, Partner with Signium Greater China in Shanghai, shares that although DEI is valued in Asia, candidate compatibility still takes precedence over gender quotas. “When matching an executive role with the right candidate, the hiring manager is focused on two things,” explains Leung. “First, does the candidate have the right competencies? And second, does the implications of the candidate’s gender help them to perform a better job?”

Leung goes on: “A job focused on handling sentiment and emotion is perceived a better fit for female candidates, while outgoing and sales-focused roles are naturally thought of as male positions.”

In this sense, China’s more traditional culture casts a different light on gender parity in the workplace and requires an objective and sensitive approach to driving change, without bull-dozing the long-held values of an entire nation.

“It is encouraging to see more women moving into senior leadership roles in China,” says Leung. “Organizations are beginning to recognize that women can introduce different points of view and inspire greater creativity, especially in product and service development. Persistence is critical – it just takes time.”

Inspire Women, to Inspire Synch-lusion

Although from vastly different perspectives, a golden thread seems to string the tapestry across borders, cultures, and belief systems. While gender equality and DEI initiatives hammer away at organizations to meet inclusion quotas, the women struggling to be noticed are often up against incredible odds – barriers that make it harder for them to aspire to executive roles in the first place.

From all three regions, Ghiazza, Fourie, and Leung all noted that the COVID-19 pandemic set certain changes in motion that could help foster inclusion practices.

“Work flexibility has become a trend,” says Fourie. “But not just for women; for both men and women. Increasingly, men are also demanding work-life balance and more flexible working conditions. It has leveled the playing field a little, and presents an opportunity for women to demonstrate their hunger and ambition; to stand out and be noticed. We have to encourage women to go for it.”

In Asian culture, where women in leadership roles continue to feel the societal pressure of not creating discomfort or being confrontational, Leung affirms that it’s the responsibility of the majority leadership to remind women that their concerns are valid and to encourage them to speak openly.

“Female leadership is not weak,” says Leung. “As women gain experience in leadership, becoming more independent and confident in the complexities of leading, we can expect a gradual increase in acceptance of women fearlessly filling executive roles.”

Daring women to shift their mindsets, Ghiazza poses the question, “Is it appropriate to talk about inclusion in today’s day and age? The word itself implies someone standing at a closed door, asking to enter as if they have no right to simply walk in. If a woman has studied, developed the skills, and done the work, why should she have to ask to be included? Women count.”

A question well worth considering, perhaps taking us a giant leap toward inspiring synch-lusion – where career pathway progression occurs with the same freedom, at the same rate, irrespective of gender.

Encouragement From Our Contributors

We asked each of our article contributors to share what they wish to see for women in the workplace. Their answers were heartfelt and true to the spirit of the work being done by DEI initiatives and organizations, every day.

“I would like to see women leading, because of our values – we are more caring, we see the long-term vision, and we embrace equality… and in our world today, we need to care more than ever before.”

Patrizia Ghiazza

“Women, support each other. Support other women!”

Carolin Fourie

“Diversity and equality contribute to building better teams and businesses. Even if it makes you uncomfortable, the world needs you to take a chance.”

Angus Leung