In defense of female “power rankings”
Hello and welcome to Modern CEO! I’m Stephanie Mehta, CEO and chief content officer of Mansueto Ventures. Each week this newsletter explores inclusive approaches to leadership drawn from conversations with executives and entrepreneurs, and from the pages of Inc. and Fast Company. Sign up to get it yourself every Monday morning.
“I’m looking forward to the day when we don’t need these lists.”
Over the years, countless executives, mostly women, have told me they dislike lists that highlight the most successful or admired women in business. Some don’t like the seemingly arbitrary nature of power rankings—an art more than science, to be sure—while others pine for the day when workplace equality has taken hold so firmly that it isn’t necessary to call out women sitting atop major global corporations or launching billion-dollar companies.
The case for rankings
I’m an unabashed fan of women’s lists, and I firmly believe there will always be a place for them, even after we reach parity in startup funding and in the C-suite. (And let’s face it, that’s going to take a while.)
These lists are interesting and full of discovery—in part because there aren’t as many women in business who are household names. Earlier this month, Inc. unveiled its Female Founders 200, highlighting accomplished entrepreneurs across more than two dozen industries. The list is full of smart, creative up-and-comers and established leaders I’d love to meet.
I’m not alone. At Inc. and Fast Company, we hear all the time about how financiers scour our lists for potential investments or acquisitions, which is another reason to champion women’s power lists. Female-only founded companies received less than 2% of venture funding in 2022. If editorial packages such as Female Founders 200 help unlock access to capital for its honorees, that’s a good thing.
Strength in numbers
Women’s advancement doesn’t obviate the need for lists such as the ones produced by Inc., Fortune, Forbes, and other titles. As the number of high-impact women grows, the women on these lists will turn to these lists to find and help one another. I’ve seen firsthand the fruits of bringing together powerful women: They immediately start sharing advice and recommendations for bankers, lawyers, coaches, and more. They form formal and informal mentoring groups. They put each other up for board positions and jobs. I hope I never hear someone say, “I’m looking forward to the day when we don’t need women’s networks.”
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