How to Develop and Retain More Female Executives

It’s no secret that women’s progress into senior leadership roles has been ridiculously slow. With all the attention the issue has gotten lately, you’d think companies would be doing better. But instead, it’s become more and more clear that it isn’t easy developing strategies that encourage women to climb the corporate ladder. As a case in point, when Apple and Facebook announced they were offering egg freezing as an employee benefit a few years ago, some claimed the offer was merely a PR stunt or even a strategy to put motherhood on hold rather than create a work environment that accommodates a woman’s reproductive years.

Egg freezing aside, there has to be more innovative ways to attract, retain and develop women in leadership at all levels. 1851 Franchise recently spoke with two women who have made a name for themselves in business over the years. Both took very different paths, but each has their own inspirational story.

Jennifer Durham, Chief Development Officer at Checkers* & Rally’s Restaurants, Inc., started as an Accounting Manager in 2001 with the ambition to become a CFO. She had a bit of experience in finance prior to Checkers & Rally’s but it was through hard work and commitment to the brand that she was able to work her way up the ranks to the VP of Finance. That’s when she was stuck.

“They told me there wasn’t room at the CFO level because the spot was already filled,” Durham said.

But Rick Silva, CEO for Checkers and Rally’s, surprised her with a completely different offer – he asked her to run the brand’s development team instead.

“As a young person starting out in my career, I thought I knew exactly what I wanted to do,” said Durham. “So when Rick called me into that meeting, I thought the development role could be a bad move and that I could completely fail. But, taking that risk ended up being incredibly rewarding – it was a way for me to expand my knowledge and learning. I’ve learned that being functionally deep is good, but having a broader understanding of the business has been even better.”

Durham not only found someone who truly championed her, but she also found a company and a CEO that would help her grow in her career, even if it wasn’t in line with her original plan for herself. She advices both women in business as well as people in leadership positions not to be too rigid. Allow yourself to be guided, and be open to options that could help you broaden your skillset, even if it’s not what you thought you would be doing.

Outside of working hard, being open-minded and having someone that champions your growth, there is one huge thing that women need in order to climb to the top and stay there: work life balance. Women are faced with a lot of pressure nowadays – they feel the need to act a certain way, stay fit, wear great clothes, be Instagram-ready at all times, and on top of that, be both successful in the workplace and at home.

Laura Novak Meyer, Founder and CEO of Little Nest Portraits, found her own way to make her career and family life work well together – she started her own business.

“A lot of women come into our franchise system feeling like they haven’t been able to succeed in business because they’re penalized for prioritizing family,” said Novak Meyer. “Women will come into our system so they can achieve their career dreams while creating even more time for family. When done well, it’s a great dynamic and a beautiful way to run your life.”

Novak Meyer explained that everyone in an organization closely watches whoever is at the top. Whether you’re a franchisee, franchisor or a leader in your organization, the team is looking at you to show them what work life balance looks like. That’s why, Novak Meyer doesn’t send email on nights and weekends – she wants to show her team that they don’t have to look at emails at night so they can spend time with family. In fact, Little Nest prefers to hiring moms.

“If you hire moms, you get an awesome worker because they don’t goof around,” Novak Meyer explained. “They get in, get the work done and get out. Moms are more interested in getting their work done well and efficiently so they can provide for their families – then get home to them.”

At the end of the day, you can spend a lot of energy swimming upstream, or you can create the work environment you want for yourself – or for your business. If you have a high performance culture where everyone carries their weight, it’s important to encourage time off to be with family.