Gender Parity in the Workplace

Women are hired and promoted at lower rates than men, giving women fewer opportunities for advancement than men. How can you help? Take the first step to commit your company to gender and racial parity by taking the ParityPledge®.

Challenges for women in the workplace

Two thirds of women have experienced microaggressions in the workplace:
  • Having your judgment questioned in your area of expertise
  • Needing to provide more evidence of your competence than others do
  • Being addressed in a less-than-professional way
  • Being mistaken for someone at a much lower level than you are
  • Your work contributions are often ignored
  • Hearing demeaning remarks about you or people like you
Source: 2018 LeanIn.org and McKinsey Women in the Workplace Study

Because of Covid, women have lost ground

In January 2020, women’s labor force participation was an all-time high. Today, it has fallen to 57%, the lowest since 1988. Today, women have lost 2.5 million jobs since the beginning of the pandemic; that’s 1 million more jobs than men.
1 in 4 women lost their jobs during the pandemic due to lack of childcare (only 1 in 8 men lost their jobs for the same reason).

Here are the stats

Only 1 out of 5 senior leaders is a woman, and only 1 out of 25 is a woman of color.
55% of CEOs and other C-suite execs believe women in their organization have been passed over for a promotion because of gender.
Women who do make it to the executive level are more likely to be in HR, legal, and marketing functions – and less likely to be in operations or technology.
Since the beginning of the pandemic, women have lost 2.5 million jobs; that’s 1 million more jobs than men.
2/3 of women have experienced microaggressions in the workplace.
Even with equal levels of education and experience, women healthcare executives earn 20% less than men.

“At the rate we’re going, it will take more than 200 years to achieve gender parity"

The World Economic Forum, 2019

Diversity in leadership pays off

Despite everything, diversity in leadership pays off. Businesses with 30% women in leadership are 15% more profitable than companies with no women in leadership.
Having three or more women on a Board of Directors is correlated with better financial performance, +10% ROE. Companies with no female directors experienced -1% ROE.
Source: MSCI Women on Board Progress Report, 2017

How do companies close the gender gap?

  1. Make a public commitment to close the gender gap at the top of your company–this will let your employees know that you are committed to advancing women in your organization.
  2. Have a recruitment strategy to create diverse, representative candidate slates.
  3. Update benefits and policies to reflect the reality for women working and caring for their family in the same space.
  4. Remove acts of conscious and unconscious bias in the workplace. Employers can’t control what employees think, but can control what is acceptable workplace behavior.
  5. Measure and report on gender and pay parity. If you can’t measure it, you can’t improve it.

For more guidance and a detailed framework, download The Parity Model.

Where do I start?

1

The commitment

The typical starting place for most companies – commit to strive for parity. Take the Pledge

2

The roadmap

The roadmap to reaching gender & racial parity in any company. Download the Parity Model.

3

The measurement

Tracking progress toward parity. If you don’t measure it, you can’t improve it. Get a Free Demo.

4

The recognition

The List recognizes companies for having benefits and programs that are family friendly and make it possible for women of all colors to advance.

Start your journey to gender and racial parity.

Take the first step to commit your company to gender and racial parity by taking the ParityPledge.

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