Figure 2: Outcomes from Cohort 10 Across Key Metrics
KEY PROGRAM RESULTS The Leadhership1 program helped generate interest in career advancement during a stressful global pandemic. Nearly 90% of graduates agreed with the following statement: “I am more interested in advancing my career and moving into a more senior position when an opportunity presents itself after participating in the Leadhership1 program.” Nearly all the women (98.8%) reported that the six-month program was fun and enjoyable, 98% said that the online coaching content was relevant, and 99.7% shared that the online curriculum was well- organized and easy to follow. LONG-TERM OUTCOMES AND RETURN ON INVESTMENT (ROI). In a six-year longitudinal study, Thomson Reuters promoted graduates of the Leadhership1 program two times more often than a control group of non-graduates. The study also found that Leadhership1 graduates had a 4% greater retention than a control group of women who did not participate in the program. The program more than pays for itself based on the retention data alone. Using $100,000 as an average salary, assuming 100 women per year in the program, and using the market rate of 1-2x annual salary as the cost of turnover, the savings of retaining four additional employees is estimated between $400,000 and $800,000 on a $200,000 investment. And this is just the financial ROI. Perhaps more importantly, a different kind of return on investment is illustrated by the hundreds of thank you notes Rick received from Leadhership1 graduates over the past ten years. Research studies conclude that job satisfaction is enhanced when organizations demonstrate structural commitments to employee development and career advancement. Our experience proves this to be accurate, as reflected in employee satisfaction, loyalty, and gratitude. Now more than ever, it is wise to demonstrate your company’s commitment to retaining and advancing diverse talent.
Keep the Conversation Going... Ready to take the next step for your organization? Connect with Susan Davis-Ali ( sdavisali@leadHership1.com ) and Rick King ( rick.king@outlook.com ) to learn more about: • Managing talent in the post-pandemic world • Addressing the “broken rung” for your women technologists • Launching the Leadhership1 program for your organization SIX IMMEDIATE ACTIONS TECH LEADERS SHOULD TAKE TO RETAIN AND ADVANCE FEMALE TALENT: Fix the Broken Rung. Focus on providing leadership development programs to the women in your pipeline, especially at the critical “broken rung” into management. Cast a Wide Net. Secure funding to cast as wide a net as possible. Many high-potentials can become high-performers with a little bit of investment. Make Connections. Connect women technologists with other women technologists. Being an “only” takes a toll on diverse talent. Continue to prioritize employee resource groups (ERGs) and informal networks within your organization to help women technologists feel less isolated in a male-dominated industry. Create Role Models. Women are more likely to stay at an organization where they can envision their career trajectory. Spotlight women technologists at senior and executive levels, so women earlier in the pipeline have role models Develop Mentors. Recruit male and female leaders to mentor and sponsor women. Positioning gender diversity as a business issue rather than a woman’s issue invites more men into supporting gender diversity initiatives. Start Now. As a tech leader, now is the right time for your organization to invest in rising stars and retain and advance your future female tech talent pipeline.
Visit leadhership1.com for more information.
Retaining a Diverse Workforce | 31
Susan Davis-Ali, Ph.D.
Rick King
Powered by FlippingBook