Successful women leaders have P&L experience—but many are getting it too late to shape their career trajectories
P&L roles are critical for making it to the C-suite.
Good morning! Gisèle Pelicot's daughter filed rape case against Dominique Pelicot and releases book, big law firms are next target of Trump's anti-DEI agenda, and P&L responsibility is critical—but it can come too late.
- Never too late? Seventy-one percent of women leaders have held P&L (or profit and loss) responsibility at some point in their careers, according to a new survey by the leadership advisory firm Spencer Stuart. The issue is, many women are getting that responsibility too late for it to have a meaningful impact on their career trajectory.
P&L responsibility is a key qualifier for most senior leadership roles including CEO, demonstrating the ability to drive revenue, manage budget and headcount, and own a business unit. Non-P&L roles—in operations or human resources, for example—are a less traditional trajectory to the very top. Spencer Stuart defines P&L roles as coming with broad exposure to the business, more visibility, and more risk.
In a survey of 2,300 senior women executives, those who moved into P&L roles within the first five years of their career (a quarter of those overall who had P&L experience) were more likely to say they proactively planned or managed their careers. They reported higher satisfaction with their work climate and were more likely to say that conditions for women at work continue to progress.
Cassandra Frangos, a board and CEO adviser at Spencer Stuart, advises women to seek out P&L responsibility within the first seven to 10 years of their careers—far earlier than many do. "When women don’t select these roles, or aren’t offered them early on, they risk being categorized as a narrow expert who may not be agile enough to take on a different discipline later in their career," she says. "As opposed to someone who has shown range across multiple parts of a business, like sales or finance, and has a track record of delivering solid financial results."
Emma Hinchliffe
emma.hinchliffe@fortune.com
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