Mentorship and Compensation Transparency are Top Factors in Female Revenue Leaders’ Success, Study Finds
New survey results from the Women In Revenue organization highlight how companies can catalyze growth through diversity and inclusion
Women In Revenue today announced the publication of its annual survey findings, confirming the challenges women face and the support they seek to be successful in revenue leadership positions. Conducted from December 2020 through February 2021, data was gathered from over 725 women in revenue-facing roles (marketing, sales, operations, customer success), nearly 66% of whom are in leadership and executive positions. The stress of the COVID-19 pandemic has increased diversity challenges specifically around compensation. Improving the transparency and equity around compensation was the top challenge for women, while having healthier work-life balance was next. Mentorship and leadership development opportunities were a recurring need in helping women achieve revenue success, and only 31% of respondents cited having a current mentor.
When it comes to attracting and retaining female leaders, employers should take note: top health care, flexible work hours, and work from home options were the formal benefits most sought after by more than 50% of respondents. Ongoing training and diversity and inclusion programs were also highly ranked. But beyond formal benefits, there are a few critical elements that female leaders seek out at a company. They include direct access to executives, and strong female representation on executive teams and advisory boards. And when it comes to compensation, transparency is key. 42% of leaders surveyed said transparent compensation information is critical or extremely helpful when deciding whether to take a new job.