OpsStars NY Session | Women in Revenue Speak Out: What Companies Need to Do to Attract and Retain Them
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The document discusses challenges faced by women in revenue roles and what companies can do to attract and retain them. It notes that women make up over half of college graduates but face challenges like lack of work-life balance and equal opportunities. Research shows that women are often better leaders than men in areas like driving results and developing others. However, women in sales roles still experience pay gaps compared to men despite equal or higher performance. The document recommends actions for companies like offering flexible work, paid parental leave, mentorship programs, and addressing unconscious bias.
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OpsStars NY Session | Women in Revenue Speak Out: What Companies Need to Do to Attract and Retain Them
- 1. Women in Revenue Speak Out: What Companies Need to Do to Attract and Retain Them #OpsStars Empowering Women Leaders in Sales & Marketing
- 2. Agenda • Why women make great revenue leaders • Top challenges • What companies can do
- 4. Roles 38% 49% 13% Sales Marketing Other 33% 54% 13% Leaders (C-Level, VP, SVP) Professional (Dir, Mgr) Other Source: Women in Revenue Survey, Nov 2018
- 5. Why Women Make Great Revenue Leaders
- 6. The Talent Pool is Increasingly Female Source: CEB (Gartner) analysis Women Already Make Up More Than Half of All College Graduates in the United States Percentage of Graduates by Gender 57% Bachelor s 60% Masters 51% PhDs Women Men
- 7. Women Ranked Better Leaders Women Are More Effective Across the Board According to Their Peers, Direct Reports, and Managers Leadership Effectiveness by Gender Top Management, Executive, Senior Team Member Supervisor, Frontline Manager, Foreman 67.7% 57.7% Manager 56.2% 48.9% Middle Manager 52.7% 49.9% 52.6% 52.5% Individual Contributor 53.9% 52.7% Other 52.0% 50/7% Source: Zenger/Folkman 2011 as seen in HBR "Are Women Better Leaders Than Men" 2012 Women Men Total 55.1% 51.3%
- 8. Leadership Ranking in Revenue Roles Femal e 52.4 Source: Zenger/Folkman 2011 as seen in HBR "Are Women Better Leaders Than Men" 2012. Overall Leadership Effectiveness by Gender by Function (Percentile Scores) Sales Male 55.9 MarketingMale 45.7 Femal e 62.6
- 9. Where Women Rank the Highest • Takes Initiative • Practices Self-Development • Displays High Integrity and Honesty • Drives for Results • Develops Others • Inspires and Motivates Others • Builds Relationships Source: Zenger/Folkman 2011 as seen in HBR "Are Women Better Leaders Than Men" 2012.
- 10. Top Challenges
- 11. Top Challenges What are your top challenges as a woman in revenue? #1 #2 #3 Work/life balance Lack of mentorship Equal seat of the table Source: Women in Revenue Survey, Nov 2018
- 12. What Companies Can Do
- 13. Why Companies Should Care Source: How to Drive Gender Parity in the Workplace, Fairygodboss. Image courtesy of Bloomberg, Gender Equality Index (GEI) Representation Drivers Culture Drivers Women on corporate boards Employee resource groups for women Women in the top 10% compensation group Paid parental leave Women in revenue-producing roles Unconscious bias training Multicultural women in the workforce Formal employee development programs Key Attributes of Over-Performing Companies in the Bloomberg GEI
- 14. What Women in Revenue Want • Flexible work hours • Top healthcare • Work from home • Training programs • Mentors and sponsors Source: Women in Revenue Survey, Nov 2018
- 15. What About $$$
- 16. Women Sales Leaders Aren’t Adequately Rewarded On Average, Despite Having Equal or Even Higher Quota Attainment, Women Are Paid Less Across Both Base Pay and Variable Compensation Average Quota Attainment Comparison by Average Commission Rate Average Total Variable Pay and Base Pay 67% 70% 4.8% 4.1% $151,696 $126,395 Men Women Men Women Men Women Source: “With Big Data Comes Big Opportunity: Ensure Against Gender Pay Gaps,” Xactly Corporation, 24 October 2014; CEB analysis
- 17. CMO’s Have a Pay Gap, Too Women marketing leaders experience a 10% pay gap, 10-19 years into their careers. Then catch up after 20 years. Source: Payscale Women Men
- 18. Your Call to Action • Network • Sponsor/Mentor • Speak up for each other • Push companies to do what matters • Know your worth
- 19. Join Us ● Become a member ● Be a mentor or mentee ● Next in-person networking event Thurs. 4/25 in SF - save the date! www.WomeninRevenue.org
- 20. Appendix
- 21. Women in Revenue Mission: Empowering Women Leaders in Sales & Marketing
- 22. How to Evaluate a New Employer Source: Fast Company, November 2018; Image courtesy of Wharton Social Impact Initiative
- 23. Advice to Younger Leaders • Build your confidence and speak up • Build and nurture your network • Understand money o Compensation (salary, bonus, equity) o Key measures of how your role contributes • Find a mentor Source: Women in Revenue Survey, Nov 2018
- 24. Mentors Advise, Sponsors Advocate Source: Center for Talent Innovation Mentors • Mentors have mentees • Mentors suggest how to expand your network • Mentors provide feedback to aid in personal and professional growth • Mentors suggest ways to increase visibility Sponsors • Sponsors have proteges • Sponsors provide network connections • Sponsors are personally vested in your upward mobility • Sponsors champion your visibility & use their own reputation to provide exposure
- 25. B2B Gender Pay Comparison Some two-thirds of the women polled in this study said they would be prepared to leave their role if their employer’s gender pay gap was exposed to be higher than the national average. Source: B2B Marketing US Salary Survey 2019 $107,798 $131,442 $97,340
- 26. Equal Pay -- Salesforce https://www.theatlantic.com/business/a rchive/2015/11/salesforce-equal-pay- gender-gap/415050/
- 27. Company Size Start Ups (<100 Employees) Midmarket (300-1000 Employees) Enterprise (<1000 Employees) Independent 30% 49% 18% 3% Source: Women in Revenue Survey, Nov 2018
- 28. Industries Represented 20% 63%17% B2B SaaS Industry Business Services Other Source: Women in Revenue Survey, Nov 2018
- 29. Base Salary 17% 28% 20% 18% 17% Not including commission or bonus Source: Women in Revenue Survey, Nov 2018
- 30. OpsStars General Info #OpsStars Thank you so much for joining as at OpsStars NY - Journey to Revenue Operations! QUESTIONS FOR OUR SPEAKERS? Speakers will be available outside of the session room to answer any questions post session. QUESTIONS FOR LEANDATA? Come visit us at the LeanData booth Join us for our cocktail and networking reception immediately following the closing keynote - 5:30PM - 7:30PM GET SOCIAL! #OpsStars #RevenueOps
Notes de l'éditeur
- Here is what you can expect to learn today as we unveil our first research As part of discussing the survey results to you today, your also going to hear from our panel of expert speakers today: Laura, Amanda and Nate some of their experiences and also what top companies are doing to retain and attract top revenue leaders. We also have an e-book that we are launching with more in depth survey data. You will receive this as follow up along with today’s webinar recording.
- question - should we move the “who responded” to the very back of this deck (like we do in the ebook) or quickly go through it at the beginning? I’m inclined to include it - in other surveys people are always wanting to know who is behind the data so I think we should knock that out. or just include slide 7 (levels/roles) and not the rest? (speak to it only?)
- Notes for voiceover: 73% of respondents started their career in the revenue domain Nearly ⅔ surveyed were in B2B Saas technology companies, 16.5% in business services and the rest other Role % of total responses Sales Leader C-Level, VP, SVP 8.7% Marketing Leader C-Level, VP, SVP 24.3% Sales Professional Director, Manager 29.1% Marketing Professional Director, Manager, Associate 25.2% Other Revenue Position CSM, C-Level 12.6%
- HBR wrote a piece called “Are Women Better Leaders than Men” in 2012; This data is based on 7,280 leaders who had their effectiveness evaluated on an Extraordinary Leader 360 survey. These leaders weren’t random -- they were from the highest-performing companies, those that invest in their leadership team. Women clearly exceeded men in the top leadership positions.
- In the same study, women and men were rank on leadership competencies of top leaders -- an equal number of men and women evaluated each other. We’d expect women to be good at leadership skills that involve others -- developing and motivating others, building relationship. But many people would say that “taking initiative and driving for results” are things we’d expect men to be better at. Panel discussion.
- Notice that work/life balance and lack of mentorship rank in the top for both of these questions. I’m going to ask the panel - does this surprise you? #1 Work/life balance - 47.5% of total respondents (49/103)) #2 Lack of mentorship - 40.7% of total respondents (42/103) #3 Equal seat of the table - 34%
- on a slide like this where the source is really long I think we should remove the hashtag Companies with Women-Friendly Policies Outperform Others in Stock Price voiceover - explain Bloomberg GEI
- Some two-thirds of the women polled in this study said they would be prepared to leave their role if their employer’s gender pay gap was exposed to be higher than the national average.
- make call to action - visit www.womeninrevenue.org; sign up for mentor program; if in SF 4/25, join us at our networking event. members get a 48 hour head start on registration for event.
- I’d like to introduce you to Women in Revenue, a new organization focused on empowering sales and marketing leaders. Today were going to share with you some fresh, new research based upon what more than 100 top sales and marketing leaders reported in a recent survey. Part of our mission is to provide businesses with insights on what women seek in their roles and also to empower and inspire women with advice from their peers
- remove hashtag LAURA-- talk about RESEARCH BEST PRACTICES here -- looking at Glassdoor, Crunchbase, keep biases in mind. Look at many sources. what makes this hard -- qualitative, intuitive. ask people in my network who might have experience, and who don’t have a horse in the race. what does the company say, glassdoor, L-in connections, get neutral third-party view. how do you handle gut feel? double-down on the research. trust your gut, dispute or refute your gut feeling. developing that antenna/radar is something that you must foster. rely on people with more experience/sounding board. great place to use an advisor. be brave enough to bring up those EQ moments to logically assess.
- When we asked our survey respondents for their advice to their younger selves, we saw an overwhelming response around the idea of speaking up: confidence, taking risks, speaking up and not being afraid. Nate to talk about compensation fairness and understanding your worth, where to get more information (Payscale, Glassdoor, industry salary studies). Laura -- find a mentor (talks to her daughter about, new college grad). Consider larger companies -- sponsorship, the person who will take you along in their career.
- Amanda to speak to this Here we can ask the question “what can men do?”
- next let’s turn this over to Nate to talk about his employer, salesforce, and the ground-breaking work they’ve done on equal pay
- we can use this slide unless Nate has a formal one
- add source round up all percentages vs decimal points
- add source round up all percentages vs decimal points
- Bar chart -- Base salary <110K - 17% 110-150K - 28% 150-200K - 20% 200-250K - 18% >250K - 17% Not including commission or bonus