IT Governance

The Perils of the Glass Cliff in Corporate Governance

Is the current global crisis blocking gender equality? Female leaders have made a significant contribution in restoring businesses and recovering losses in 2020. Women are taking the lead to counter any roadblocks. However, their contribution lacks recognition from corporate boards. In this article at Forbes, Michael Peregrine defines the concept of ‘glass cliff.’ During the global lockdown last year, the trend came to light when women were appointed to take up leading roles.

The Repercussions

A newly appointed female executive faces far more internal challenges than men. Nonetheless, she faces criticism, and a male employee replaces her after a short tenure. The action is backed by a strong case of inefficiency showcased by the female lead.

Gender Parity

Once the corporate board shows genuine concerns for the glass cliff challenge, women at work will have better career growth. The board is responsible for hiring, nurturing, and retaining executive talent. Filling the position with skilled female candidates would be a classic move and they, in turn, can become a significant corporate asset. On the other hand, the glass cliff scenario can tear down your brand reputation. If the board members wish to wipe out glass cliff threats, they must end the top executives’ gender-biased selection.

Need for Governance

Corporate governance can avert social injustice allegations, including workplace safety, gender disparity, and underrepresented communities. Nonetheless, a glass cliff scenario in the board can challenge the power of governance. Enterprises cannot risk their progress by undermining the efficiencies of women executives. Proactive management initiatives are vital now more than ever to maintain gender equality within the company.

Some organizations have already taken steps to improve the gender equality norms and expectations. The global crisis has built a sense of harmony and empathy between the remote workforce and employers. A strategic approach to fix the evident gaps is the ideal way to deal with the problem.

Click on the following link to read the original article: https://www.forbes.com/sites/michaelperegrine/2021/02/28/the-glass-cliff-challenge-for-corporate-governance/?sh=420ea45b240e

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