Private Enterprise

Mairead Harbron, Director of Private Client Services with PwC, shares her expertise on tackling the challenges facing women in succession and leadership in family businesses.

Early on in her career, Mairead Harbron found her niche by chance. Joining PwC Ireland’s graduate programme in 2007, she began working in the corporate tax department, but was also afforded experience working with private clients, something that she discovered she loved.

“The difference in dealing with private clients is that you are interacting with them on a personal basis,” she explains. “It’s not just about their businesses, it’s about their wider family, about their wealth plan, about their future, so they’re really engaged.”

Keen to work overseas, after qualifying in her accountancy and tax exams, she was seconded to PwC in Melbourne, where she worked on their private client team. The experience helped to clarify her career ambitions, and after returning home, she broadened her remit to include private business advice.

Today, 13 years after joining PwC Ireland, Mairead is Director of Private Client Services, working at the coalface of family and private business in Ireland.

A Chartered Tax Adviser and Chartered Accountant, she’s an expert in tax matters, succession planning, structuring ownership of investments and property transactions. Having a supportive boss early on meant that Mairead found herself challenged and pushed. She also had a collection of female mentors who were willing to share their experience and give her opportunities. “So I have been very well supported and I know that that’s not every woman’s experience.”

Barriers to scale

When looking at female leadership in private and family businesses, she acknowledges that there are many barriers. “Some come from

tradition, such as the first-born son inheriting the business. They are often mentored or supported towards leadership from childhood and given roles, both in the family and also in the family business, that position them for that leadership role. So while the barrier starts unconsciously, it can sometimes be too late when it’s recognised.”

Mairead relishes the opportunity to support women in managing their growth and achieving leadership within their family business, and is pleased to report that change is happening. “From a societal perspective, women are seen more in the workplace and are seen to be adding value in the workplace. Statistically, as a woman, you’re more likely to go to third level education too, so education, where once a barrier, is no longer.”

She points to the possibility that unconscious bias can be overcome too. “All of the studies and lived experience prove that having more diverse leadership leads to better business outcomes. It’s widely accepted that by having a diverse board, you have diverse views coming into it, which delivers better business outcomes.”

Female role models

Mairead notes that women are being more encouraged, thanks, in no small part, to the visibility of more female role models. “The tide is turning, but there’s still more work to be done and it is a two-way street. Whether in family business or the wider context of women in business, there needs to be more bringing women along, and women need to push themselves along as well.”

But can family businesses make the space more welcoming for women?

“Awareness of barriers and consciously dealing with those are key. I’ve seen clients bring experienced females from outside onto their board to create a bit of a trickle-down effect. Once that role model is there as a leader the impact trickles down throughout the rest of the organisation.”

She sees the benefits of outside perspectives, and recommends that everyone in a family business, male or female, undertake work experience outside of their business. “That way, they’re bringing a different perspective to the table, giving themselves a leg up and bringing added value.”

Mentors can play a big part in empowering and supporting women on their journey too. “Sometimes an additional push is needed to help women to identify formal mentors as well as informal mentors. Studies show that mentoring opportunities arise more naturally for men, so businesses can counter that bias by putting some formal mentoring in place. In a family business context that might mean that one mentor might be somebody within the family, but it would also mean people from outside the family, to get that kind of outside perspective and to help encourage their mentee and give them career advice as they’re going on.”

Reaching your potential

Mairead is keen to address the perception that if a woman puts her head down and works really hard, she will do really well in her career. “I think that works up to a certain point. But for women trying to achieve leadership roles, they need to actively make sure that their efforts are being seen.” She also encourages women to fight imposter syndrome as much as possible, have confidence in themselves and be comfortable learning on the job. “Be curious, ask as many questions as you can to continue improving your knowledge base. Reaching your potential requires openness to challenging opportunities, how else can we expect to learn and grow?”

PwC Ireland are dedicated to helping Private and Family Businesses manage their ownership and growth today and define their legacy for tomorrow. To find out more about how they can support your business, log on to pwc.ie/privatecompanyservices