We think this is entirely achievable. However, we may be able to exceed that target, both in terms of percentage and timing, depending on the foundations and behaviours that HR leaders are able to implement in their own businesses today.
There are two broad areas where we believe the HR function can make a huge difference. These are around how training can be delivered to reduce the impact of unconscious biases and also how organisations look at and make the most of potential.
In terms of unconscious biases, there is considerable research into some of the areas that inhibit the recruitment, development and selection of the best executives.
In the 1970s orchestras started to implement blind auditions (hearing aspiring performers from behind a screen), which led to a significantly higher percentage of female players being selected, particularly on instruments that had hitherto been considered more masculine, such as the brass section.
However, business is still plagued with its own version of these biases today. For example, a Fortune 500 survey of CEOs in 2005 revealed that the average height of CEOs was 6 feet (183 cm). The average American male is 2.5 inches (6.4 cm) shorter. Deep voices are also associated with authority. So, a tall man with a deep voice is likely to be identified as having leadership potential. There are many similar pitfalls.
There is also a very strong tendency to favour promotion of individuals who are performing well in their role today. Indeed performance today is synonymous in many selectors’ minds with future potential.
Unfortunately there is a risk of over-promotion and there are countless examples of executives who fail in senior positions. Perhaps the more significant tragedy is the waste of potential for all those who have been overlooked, either because of an unlucky start in life or because they have never been given the opportunity to demonstrate their innate talents.
Happily, there seems to be significant interest in the business world in driving improvement on these fronts. For example, a Harvard Business Review article that a colleague, Claudio Fernández-Aráoz, wrote on the topic was the most downloaded article in the magazine’s history in the two months following its publication. In addition, we noticed increased interest from our clients in creating and driving training and leadership development programmes in these important areas.
As a result, we feel deeply optimistic about our collective ability to make a real difference and to help identify, develop and promote the most talented individuals, irrespective of their background or gender. However, while we and other executive search firms can play our part, the real heroes will be the HR leaders who put in place the necessary foundations today.
James Martin leads the HR practice at Egon Zehnder in London