Although they comprise roughly 50% of the workforce, just one in five C-suite positions is occupied by a woman–and just one in 25 by a woman of color. And research indicates that the gap is due largely to bias as opposed to desire, talent, or expertise.
A full 27% of white women and 41% of women of color say they aspire to be senior executives. Among those who have already begun climbing the ladder, 49% of white women and 59% of Black women want to become top executives.
Unfortunately, women are perceived as having less “leadership potential” than their male colleagues–even when they are outperforming those same men on evaluations of current performance.
They are more likely than (white) men to be assigned office “housework” tasks as opposed to higher-profile stretch assignments that are likely to fuel career advancement.
And they are hired and promoted at lower rates than men.
All of this translates to far fewer women than men making it into management and onto the path to more senior leadership roles.
Having more women in organizational leadership (ideally 50%, at parity with the population) leads to better decision-making, innovation, and financial performance.
Businesses with at least 30% women in leadership are 15% more profitable than companies with no women in leadership.
Those with three or more women on their Boards enjoy a 10% increase in Return on Equity (ROE) while companies with no female directors experience a 1% decline in ROE.
Companies with diverse management teams generate 45% of total revenue from innovation compared to just 26% of revenue from those lacking diverse leadership.
Further, when women are in leadership roles, they are more likely to hire, mentor, sponsor, and promote women at all levels–diversifying the pipeline for future leadership opportunities.
The Parity.Org ParityMODEL for Women in Leadership is based on extensive research and in-depth conversations with organizations that have not only reached–but sustained–gender parity in leadership. Our proprietary framework, organized around three key pillars (Representation, Equality, and Inclusion), empowers you with insight into the specific policies, practices, and approaches that the most successful companies employ to ensure that women can rise.
Equality in Hiring
Equality in Compensation & Benefits
Equality in Advancement Opportunities
Inclusion through Action
Inclusion through Benefits
Inclusion through Policies
Since the beginning of the pandemic, women have lost 2.5 million jobs–one million more jobs than men.