Women —particularly of color— continue to be vastly underrepresented in the workplace: McKinsey report.
Since 2015, the first year of the “Women in the Workplace” by McKinsey, corporate America has made almost no progress in improving women’s representation.
According to McKinsey’s most recent index —which surveyed 279 companies employing more than 13 million people— companies are disadvantaging women in hiring, promotions and manager-level jobs, despite that they earn more bachelor’s degrees than men, and have done so for decades.
McKinsey reports that men hold up 62% of manager positions, while women hold only 38%.
If companies continue to hire and promote women to manager at current rates, the number of women in management will increase by just one percentage point over the next ten years.
The bad news, however, is that progress isn’t just slow, it’s actually stalled.
Despite public outcry and hand-wringing, little has actually changed and boards remain frighteningly homogenous.
Deloitte found that just 14% of board seats in the Americas are held by women, up just slightly from 12% in 2015. And the proportion of female board chairs— which is less than 4%—did not change during that time.
Companies need to take more decisive action regarding the uneven field women have to compete in, one that starts treating gender diversity like the business priority it is.
Other key findings from the report:
A third of lesbian women feel like they can’t talk about themselves or their life outside of work.
55% of women in senior leadership, 48% of lesbian women, and 45% of women in technical fields report they’ve been sexually harassed.
Only 32% of women think that disrespectful behavior toward women is often quickly addressed by their companies, compared to 50% of men.
Just 62% of employees say that in the past year their company has reaffirmed that sexual harassment won’t be tolerated.
45% of men think women are well represented in leadership when 1 in 10 senior leaders in their company is a woman. By comparison, 28% of women think this.
More than 90% of companies say they prioritize gender and racial diversity because it leads to better business results, but the message is not reaching employees.