Women are increasingly becoming a part of the corporate workforce. Although they are becoming formidable contenders climbing the corporate ladder, gender disparity at the managerial level is still at large. Despite changing Human Resources (HR) policies and encouraging women in management, the ratio of women actually making it to the top is low.
Evidence For A Better FUTURE
As women in management have a lower ratio, there is plenty of evidence for a better future. A Reuters report in October 2014 revealed that the number of women in corporate boards are on the increase. Women like Mary Barra (General Motors), Marissa Meyer (Yahoo Inc), Indra Nooyi (PepsiCo Inc), and Ginni Romerty (IBM Corp) have proved that women are high achievers when it comes to managerial skills. Clearly, women can positively affect the growth of a business.
Gender Disparity Realities
However, these positive outcomes cannot shroud the fact that corporate boards are still dominated by a much higher percentage of men. Moreover, gender disparity in pay scales is a stark reality. A gender diversity survey conducted by Mercer in 2014 revealed that although women make up 41 percent of the global workforce, only 19 percent of women are at the executive level. For women in management, these numbers reveal a strong disparity.
Not Just Gender
Power and pay disparities between men and women are not only defined by gender, but also by skin color. That is why change management improvements still need to be made. For women of color, the fight for wage equality and more representation in management has not made nearly as much progress. Just 18% of all new managerial jobs obtained by women were obtained by women of color. Clearly the progress of women in management still has a long way to go until all women of all races are afforded the same opportunities as white males.
For Women, Increased Age Means Increased Skill
Furthermore, the percentage of women in higher leadership positions is abysmally low. A study by the Business Insider revealed that the overall effectiveness of women in leadership skills increase by age as compared to men. The survey also showed that women are more ready to take up challenging tasks and are defying traditional role definitions at the work place. However, these changes do not translate to their presence in higher managerial roles.
Corporations Effecting Real Change
Many corporations are making conscious efforts to change the existing demographics within their own business continuity management improvements. For instance, Kimberly-Clark and McDonalds Corp have initiated a change by incorporating more women in managerial roles. Hyatt Hotels Corp’s efforts in facilitating the participation of women in management is notable as well. Many United States (US) corporations are pitching in efforts toward this change. Innovative corporations are taking action to promote women in management, making a real change.
Women Management Statistics
Women account for half of the workforce, so it is time to start making changes. However, statistics show that even in 2016, women in the workforce are abysmally represented in higher responsibility roles. Here are some scary statistics regarding women’s roles in S&P 500 companies that will shock you:
- Under 5% of CEOs are women
- Under 10% of top earners are women
- Under 20% of board members are women
- Under 30% of senior level officials are women
So as you can see, while women account for half the workforce and should certainly account for half of all these positions, the gender disparity is alive and well in the corporate world of 2018. Now is the time to start making changes.
Gender equality issues, the performance of women in business and demonstrated leadership qualities call for a need to accelerate this change among futurepreneur businesses. Additionally, their remarkable contribution to business growth, progressive thinking and inclusion form are major requisites in corporate growth. We hope that the ratio of women in management will be on the rise going ahead. The fear that women are weak and cannot perform equally well in higher positions should decrease as positive changes become widespread.
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