Power with Purpose: How to foster female leadership in the development sector

Despite efforts by organizations to prioritize women's leadership, the gender gap in the C-suite persists. Female leaders in business remain a minority. The disparity at the top is also pronounced in the nonprofit sector, where women make up 75 percent of the workforce but hold the top position in less than half of their companies, according to a 2015 report from GuideStar. Devex President and Editor-in-Chief Raj Kumar spoke with McKinsey & Company Associate Partner Tracy Nowski about how to foster the next generation of women leaders as part of McKinsey and Devex's Power with Purpose initiative, honoring female leaders in global development. While formal policies such as parental leave and flexible work arrangements are undeniably important, giving women access to male and female mentors and role models within the organization is a crucial strategy in moving women up the leadership ladder, according to Nowski. “What really tends to make a big difference is access to informal information and networks, making sure up-and-coming women are mentored by senior men and women alike,” she said. She also encouraged organizations to pay attention to data when analyzing the problem. “It’s really important to take a data driven look at it, otherwise you are always explaining away an exception as opposed to recognizing that there may be a greater pattern at play,” she said. Watch the video above to hear more on how to foster female leadership at your organization. Meet the five female honorees Devex and McKinsey & Company are commending this year for Power with Purpose. These women are at the forefront of creating the change our world desperately needs and you can find out exactly who they are and how they're leading the way here.