Research shows that women in managerial positions deliver better results when a crisis looms, a phenomenon known as ‘glass cliff’. Women are expected to save the day when business gets tough because they adeptly navigate turbulent times. We asked several local entrepreneurs who found themselves in such situations during the 12th Leader’s Conference Women in Business, during the panel discussion ‘Stilettos on Ice – How to Overcome the Glass Cliff?’, under the mentorship of journalist Gordana Gelenčer.
Marina Marjanović, CEO and member of the Management Board of Namještaj Mima, emphasized that crises are excellent opportunities for development and investment, believing that women arrive at solutions faster and easier, while men prefer concrete evidence that something will succeed. During the financial crisis of 2008, they saw an opportunity to start furniture production, on which they are now expanding their business.
– I always argue that a crisis is an opportunity for development and investment. At that time, we identified a missing segment in the market, launched production, and that has brought us the direction we have now. I recommend everyone to view a crisis as an opportunity to see what the market lacks because it is a chance to rearrange things – said Marjanović, who has climbed all the ranks in that company.
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– That journey has given me a perspective from various angles on what it actually means to build a company. It has empowered me to fight challenges more easily. I was more confident in making decisions. I have gone through the financial crisis and two pandemic years, so not much can surprise me – said Marjanović.
The ‘Shadow’ Operation
Nina Išek Međugorac, CEO of Val Group, pointed out that the ‘alpha’ culture is still quite prevalent in companies and institutions.
– At this moment, that is not the path to sustainable business and success, especially today when we are in a time of permanent crisis. Society is very pessimistic, there is no trust in institutions, and there is absolutely an expectation for a significant leap, bolder decisions, deeper changes than we have had the opportunity to see, and this requires a different leadership style. I see an opportunity in that different leadership style for the ‘alpha’ culture to be overshadowed by some new, more visible capabilities, and that is a great opportunity for women – explained Išek Međugorac, adding that women place values at the core of their business and create a reliable and safe environment.
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Lea Perić, founder and CEO of the startup XOINK, embarked on this adventure after a long career in the tourism industry in numerous leadership positions. Since she is from Dubrovnik, where there is a significant number of hotels, she says she knows perhaps one hotel director who has managed to break through that ‘male world’.
– We women often operate in the shadows, often ruling and managing the company in the shadows, but all those credits are easily attributed to some man above us, and that is very disappointing – said Perić, whose idea for starting her own startup came during maternity leave when she had much more time to think.
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Stronger Employer Obligations
The hope that the balance between private and professional life will improve for women, but also for all parents, is instilled by the new Labor Law, based on the European Union directive.
– From January 1, 2023, parents of children up to eight years of age will have the right to more flexible working conditions. In this situation, the worker will not be released solely at the employer’s discretion, but the employer will be obliged to respond to some of their requests, whether they approve them or explain why they will not approve them – noted Josipa Klišanin from the Ministry of Labor, Pension System, Family and Social Policy.
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As Klišanin explained, parents of children up to eight years are provided with the possibility of working from home, redistributing working hours, and transitioning to part-time work.
– A parent can request these conditions. Now, if the employer does not want to accept the parents’ requests, they will have to provide a written explanation of why they cannot accept it. We are improving the system so that employers have a stronger obligation towards parents than before – said Klišanin.
In addition, they have added a new obligation for employers to provide employees with insight into the criteria based on which someone else received a certain amount of salary, which puts women in a much better position when negotiating salary amounts.
