A 2016 McKinsey report laid out that only 40% of women and 56% of men desired to become a top executive in a company. It could be because the climb is exhausting since the range of expertise and skills has expanded. It means that today's leaders need to meet an almost impossible set of requirements.
We are requiring today’s leaders to be the best player on the team, the coach, general manager, and CEO. Instead of attracting people who want to lead, we attract the narcissists that are motivated by money, power, and status.
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After Tom Brady won his first Super Bowl in 2001, New England Patriots owner Robert Kraft promoted Tom to General Manager because they wanted to see him grow with the organization. In the corporate world, it is known as talent management.
Research from Ernest O’Boyle and Herman Aguinis shows that high performers have much higher levels of impact than average performers.
If we want more diversity, we need to change our assumptions that being ranked higher in a company should be the overall target. Being promoted is not always the best way to unlock potential and innovation.
We need more companies that want to let their best performers stay on the field and create paths for the leaders to inspire those stars.
As we climb up the corporate ladder, there are fewer options available, and a mid-life crisis of the corporate world comes. The reason is that the same skills that got a person hired as a young graduate are not sufficient for a senior job, in spite of the years of experience gained during the course of time.
The way out of this crisis is to be forever employable, a concept that involves continuous learning, sharing and re-purposing of one’s experience, expertise and skillsets to create a brand.
Some managers favor candidates who went to the same school. There's also evidence that African-American sounding names, birthmarks, being pregnant, and being overweight puts candidates at a disadvantage.
To overcome this bias, identify the key skills and values in advance, then create a standard set of behavioral and situational questions to ask every candidate. Doing this can triple the manager's accuracy in predicting job performance.
The concept of cognitive diversity focuses on diversity of thinking and is composed of four dimensions: