Now Is Our Time: How Women Leaders Can Break the Leadership Glass Ceiling and Thrive
The conversation around diversity and inclusion has gained significant momentum in the contemporary business world. We are witnessing a remarkable trend of more women entering traditionally male-dominated industries and ascending into leadership positions. This inspiring progress, however, is yet to be fully reflected at the highest echelons of corporate leadership. The BFSI sector, in particular, grapples with the enduring challenge of the glass ceiling.
To fully understand why this ceiling exists - and, more importantly, how to break through it - requires an exploration of both the institutional barriers women face and the personal challenges that often hinder their path to leadership. Despite systemic progress, internalised barriers such as self-doubt, fear of failure, and societal conditioning still impact many women’s careers. Therefore, the solution is clear: we must remove institutional obstacles while empowering women to overcome internal limitations that keep them from confidently stepping into leadership roles. It's a twofold approach we must adopt to bring about real change, and it's a change we can all be a part of.
This article explores these themes in depth, discussing how women can reclaim their place at the decision-making table, take on leadership roles, and challenge external and internal factors limiting their rise. This is a crucial conversation that we need to have to ensure a more inclusive and diverse corporate leadership landscape, and your participation is key to its success.
Institutional Barriers: Unseen Forces Keeping Women from the Top
One of the most significant challenges for women in leadership is the persistence of institutional barriers that have long favoured male dominance in corporate structures. Though often subtle and systemic, these barriers create an unequal playing field where women must work harder, prove themselves more consistently, and navigate rules that do not always consider their unique experiences or challenges.
- The Boys’ Club Culture
Corporate leadership, especially in industries like BFSI, is often marked by a "boys’ club" mentality. This culture is characterised by male-dominated networks, where informal mentorship, sponsorship, and career-advancing opportunities are usually shared among men. Women, notably those aspiring to senior roles, are frequently excluded from these robust networks. This limits their access to crucial career opportunities and reinforces the gender gap in leadership.
In practice, this dynamic means that men are more likely to be sponsored for leadership roles, to receive advice on navigating corporate politics, and to have their leadership capabilities recognised by those in positions of influence. Conversely, women are often left to fend for themselves in climbing the corporate ladder, missing out on the critical support systems that help propel men to leadership positions.
- Actionable Insight:
Organisations must create inclusive mentorship and sponsorship programs to dismantle this boys' club mentality that gives women equal access to career-building relationships. Senior leaders, particularly men, must actively sponsor high-potential women, advocate for them in boardrooms, and open doors that may otherwise remain closed.
- The Leadership Gap
The numbers tell a compelling story. According to industry reports, while women make up nearly 50% of the global workforce, they represent only 24% of senior roles in most industries, and this figure drops even further in sectors like technology and finance. This leadership gap is compounded by the lack of female representation at the C-suite level and on corporate boards, where women’s voices are critical in shaping business strategy and company culture.
Women are often overlooked for leadership roles, not because of a lack of skill or ambition, but because of unconscious biases that continue to permeate the hiring and promotion processes. These biases manifest in assumptions that women are less capable of handling high-pressure roles, are more likely to leave the workforce to raise children, or lack the aggressive leadership qualities associated with top-tier roles. This is further complicated by the pervasive notion that men are "natural leaders" and women are better suited for supportive or operational roles.
- Actionable Insight:
Companies must actively audit their promotion and hiring practices to close the leadership gap to identify and eliminate gender biases. This involves implementing unconscious bias training, diversifying hiring panels, and setting gender equity targets at the leadership level. Additionally, businesses should develop leadership development programs to nurture female talent, offering them the skills, exposure, and confidence to pursue leadership roles.
Personal Barriers: Overcoming Internalized Limitations
While institutional barriers are significant, many women need full help to step into leadership roles. These internal barriers are often shaped by societal expectations, cultural conditioning, and deep-seated fears about how women will be perceived if they pursue ambitious career goals.
- The Confidence Gap
A well-documented phenomenon in the workplace is the confidence gap between men and women. Numerous studies have shown that women are more likely to underestimate their abilities and less likely to pursue promotions unless they meet nearly all of the qualifications. Men, by contrast, are more willing to apply for jobs or take on leadership roles even if they only meet 60% of the criteria.
This disparity stems from societal conditioning, where women are often taught to be more cautious, avoid risks, and seek perfection. As a result, many women hold themselves back from leadership roles, waiting until they feel "ready" or "qualified enough" to lead. The fear of failure or the pressure to meet impossible standards keeps them from pursuing opportunities that could advance their careers.
- Actionable Insight:
The first step to overcoming the confidence gap is to shift mindsets. Women must learn to embrace the possibility of failure as part of the leadership journey and recognise that perfection is not a prerequisite for success. Companies can support this by creating a culture that encourages risk-taking and celebrates learning from mistakes. Leadership development programs should focus on building self-confidence and resilience, empowering women to take bold steps toward leadership, even when they don’t feel 100% ready.
- Fear of Being Liked vs. Respected
Another significant barrier that many women face is the likability vs. respect paradox. Unlike men, whose competence and likability tend to rise together, women often find that the more they assert themselves, the less likeable they are perceived to be. This can be incredibly daunting for women in leadership roles, who must balance being assertive enough to lead while maintaining the soft skills expected of them to avoid being seen as too aggressive or unfriendly.
This paradox creates a double bind: if women are too nice, they are perceived as weak or unfit for leadership. If they are too assertive, they are labelled as aggressive or "bossy." As a result, many women temper their leadership style, prioritising likability over respect to avoid being disliked.
- Actionable Insight:
Breaking free from the likability trap requires women to redefine leadership on their own terms. Women must realise that respect in leadership is earned through competence, integrity, and results rather than likability. Organisations must also play a role by rewarding results over style and encouraging leaders of all genders to develop authentic leadership styles that prioritise effectiveness over personality.
Leaning Into Leadership: Reclaiming Feminism and Shaping the Future
Empowering women to lean into leadership requires both external support and internal resolve. Simply removing the structural barriers is not enough - women must also reclaim their narratives about leadership and what it means to lead as a woman.
- Building Support Networks
For women to rise into leadership, they need robust support systems - both within and outside the workplace. Internally, mentorship and sponsorship play critical roles in helping women navigate their careers. Mentorship offers guidance, while sponsorship involves having senior leaders advocate for women, pushing them into roles that might otherwise remain out of reach.
Externally, women’s leadership networks and peer groups offer invaluable opportunities to share experiences, seek advice, and build confidence. These networks allow women to connect with others who have faced similar challenges, fostering a sense of solidarity and providing the tools necessary to break through the glass ceiling.
- Challenging Societal Norms
It’s also essential to confront the societal norms and gender stereotypes that limit women’s leadership potential. Feminism, in this context, is not just about fighting for equal pay or closing the gender gap in leadership. It’s about changing the narratives around gender and leadership, creating a world where women can lead without compromising their identity, values, or femininity.
By embracing feminist ideals - which advocate for equality, inclusivity, and the dismantling of gender-based barriers - women can create a world where leadership is based on merit and ability, not outdated gender norms. Companies must also take responsibility by making gender equity a core component of their business strategy, openly discussing gender dynamics in the workplace, and holding leaders accountable for fostering inclusive environments.
Strategies for Success: How Companies Can Empower Women Leaders
To ensure women can thrive and take on leadership roles, businesses must actively implement strategies that empower women at every stage of their careers. These strategies include:
- Implement Flexible Work Policies
Providing flexible work arrangements is one of the most effective ways to support women, particularly those balancing work and family responsibilities. Flexible hours, remote work options, and parental leave policies enable women to manage their professional growth without sacrificing their personal lives.
- Reward Invisible Work
Women disproportionately take on invisible work such as mentoring, emotional labour, and team-building, which often go unrecognised. Organisations must acknowledge and reward this work by incorporating it into performance evaluations and compensation structures. By recognising the value of invisible work, companies ensure that women are fairly compensated for their total contributions.
- Invest in Leadership Development
Companies must commit to developing leadership programs targeting women, providing them with the skills, mentorship, and exposure needed to take on senior roles. These programs should focus on confidence-building, negotiation skills, and strategic thinking, ensuring women have the tools to succeed at the highest levels.
Conclusion: Breaking the Glass Ceiling and Beyond
The journey toward gender equality in leadership is far from over, but the future looks promising. By breaking down institutional and personal barriers, women can reclaim their place in leadership and lead with confidence, competence, and authenticity.
It’s time for women to lean in, take bold steps, and break through the glass ceiling that has long held them back. And it’s time for organisations to fully embrace the benefits of diverse leadership, creating spaces where women can rise to the top and thrive.
The glass ceiling is cracking, and with the right strategies, support systems, and mindset, women can shatter it entirely - creating a future where leadership is defined by talent and vision, not gender.
