Invest in Yourself

• • Women were nearly half (47.0%) of the labor force, but
  • Only 40.9% of managers in 2021.
  • In 2021, white women held almost a third (32.6%) of all management positions.

  A study conducted in 2021 by McKinsey in partnership with LeanIn.Org revealed that women of color continue to lose ground at every step in the pipeline—between the entry level and the C-suite, the representation of women of color drops off by more than 75 percent. As a result, women of color account for only 4 percent of C-suite leaders, a number that hasn’t moved significantly in the past three years.

  A 2020 analysis by Mercer of over 1,100 organizations across the world found a leaky pipeline for women overall in leadership:

• • • Executives: 23%
    • Senior managers: 29%
    • Managers: 37%
    • Professionals: 42%
    • Support staff: 47%

The 2021 McKinsey study found several areas that are impacting women’s C-suite advancement include:

• • Limited access to traditional networking opportunities
  • Lack of female leadership networks
  • Significant challenges balancing work and family.

  Another area that is holding women back is that women rarely receive or seek out information leading them to roles with P&L responsibilities. As men and women move up through leadership assignments, they may be performing the same job but have different experiences. The difference lies in coaching and information. Unfortunately, promising female talent usually do not have coaches, leaders, mentors, or sponsors that directly state the importance of a career trajectory focused on financial responsibility.

  While nearly half of men received detailed information and coaching for these spots:

  • • Only 15% of women received the same details and encouragement,
    • Men are usually three times more likely to be encouraged to pursue these roles than women.
    • Approximately 80% of women who were encouraged to pursue a role believed they’d succeed.
    • Without encouragement, only 51% believed they would succeed. 

Research shows that organizations with strong women executives have a competitive advantage that positively impacts business performance and overall growth. According to Catalyst, companies with more women executives see a 46% higher Return on Equity, 60% higher Return on Invested Capital and 84% higher Return on Sales. 

Women in leadership roles is critical for any organization. In fact, organizations with more women in leadership also experience:

• A More Positive Company Culture
• Increased Employee Retention and Employee Morale
• Higher Customer Satisfaction