Global Female Leaders Outlook 2023

Executive summary

01 Female leadership profiles: Driven to succeed

• Most female top managers surveyed work more than 50 hours per week and prefer the hybrid work model.

• Almost all female participants bear responsibility for the household, with 1 in 3 reporting no external domestic help.

• Most participants have changed companies at least once to take the next step in their careers.

02

Economic outlook and strategy: Good prospects

• While new economic risk factors such as inflation and recession are becoming more relevant, positive growth prospects and economic resilience indicate reasons for optimism.

• The investment in employee development is increasingly seen as more important than the investment in technology.

• Headcount is expected to grow despite the technology-driven efficiency gains.

03

Digitalization and technology: Driving transformation

• Being a "first mover" is less important in digital transformation than before. Faster decisionmaking on investments, on the other hand, is essential.

• Digitalization is the focus – strategies should not be paused in response to economic crises.

• Cybercrime is on the rise – but so too is the feeling of security among the participants surveyed. The majority consider their company to be well equipped.

74 % of participants are part of dual-earning couples.

04 ESG: Growing prominence and scrutiny

• Stakeholder demand for ESG reporting and transparency is increasing significantly, especially among large companies. ESG is becoming firmly anchored in strategies.

• ESG is widely viewed as a positive influencing factor for company performance.

• The “E”, the environmental aspect, currently receives the most attention, followed by Social and then Governance priorities.

87% identified adaptability as the most important success factor for business resilience.

05 Diversity and gender inclusion: High confidence

• The trend in recent years has been positive –and further progress in equality is expected. Advancement opportunities for women within their own companies are increasing.

• Three out of four respondents expect gender equality in the next 15 years. Diversity is seen as a particularly important success factor for growth.

• Nevertheless, many respondents have been confronted with stereotypes and prejudices.

73 % identified cooperation as critical for succeeding in digital transformation.

06 Leadership in polycrisis: New opportunities

• The consequences of the polycrisis bring complex change: The majority sees positive aspects and opportunities, but at the same time, the complexity of tasks is clearly increasing.

• Strategic thinking and leadership, as well as flexibility and agility, become crucial for professional success.

• The strain is increasing – burnout symptoms at management and staff level are on the rise in times of polycrisis.

67 % report increased demand for ESG reporting and transparency.

51 % say the “old boys club” still exists in their company, but 49% also experience support from a “new girls club”.

64 % experience a positive spirit during polycrisis due to new opportunities.

Introduction

Dear readers,

It is no longer just one crisis; instead we are confronted with a polycrisis in today’s world. This means that several risk situations, often interconnected, are occurring simultaneously. Companies need to strengthen their resilience in the face of geopolitical and economic risks alongside the megatrends of digitalization and ESG. This is a major challenge that the top female managers participating in our Global Female Leaders Outlook 2023 are wholeheartedly taking on. Despite their increased workload, they are optimistic about corporate growth, social change, gender equality and their own career ambitions. This is a positive signal in a volatile economic and social environment. The results unequivocally testify to their confidence in the future.

With the Global Female Leaders Outlook 2023, we are continuing our study series in which we present the perspectives of female leaders. This marks our fourth edition, and since 2018, we have had the honor of engaging with 4,195 women from more than 55 countries, who have successfully participated in our surveys. In times of profound upheaval, it is essential to consider each of their experiences, forecasts, distinct perspectives, and leadership styles. Equality is a central aspect of ongoing transformation processes. Companies recognize that diversity is becoming a fundamental success factor and indispensable as a value lever. Female leaders are doing their part to make our world more sustainable.

According to female decision-makers, several personal qualities are currently coming into focus, notably adaptability and foresight. Rapid technological progress, new stakeholder and compliance requirements, and market upheavals – for example, as a result of Russia's war of aggression against Ukraine – underscore the need for rapid response and flexibility in operations, just as much as the need to focus on strategic, long-term goals. These qualities particularly suit the female participants

interviewed to proactively assume leadership functions amidst the complexities of the polycrisis.

Meanwhile, it is clear that despite progress in diversity and inclusion and improved legal frameworks, there is still much to be done. Numerous women are still subject to prejudice, frequently change companies to pursue their next career step, continue to be underrepresented in management positions, and encounter male-dominated networks in many organizations. In order to be able to exploit the potential of equal participation, these hurdles must be further removed.

The information provided by the participants also bears witness to several new trends within companies: Digitization strategies are currently being noticeably adjusted, employee development is gaining in importance over technology investments, and cybersecurity has been strengthened. This suggests that accelerated external change is being responded to with equally accelerated internal change – a promising development that also makes companies more resilient.

Our thanks to the 839 participants from 53 countries who took the time to contribute to the study with their valuable responses. We hope that this Global Female Leaders Outlook 2023 will bring you new insights and sharpen your focus on the potential of female leaders to lead companies in a more resilient and agile way.

We wish you an engaging and stimulating read.