Despite representing 45% of the total workforce, women occupy 11% of C-suite positions1 and 5% of CEO positions2 at S&P 500 companies.
They are less likely to receive advice from managers and senior leaders on how to advance. In fact, at the first critical step up to manager, women are 18% less likely to be promoted than their male peers.3 Our infographic on women in business explores this current state and what needs to change.
Underrepresented… Yet, More Than Qualified
Jack Zenger and Joseph Folkman surveyed 7,280 leaders on 16 leadership characteristics. They asked them to rate male and female leaders in each category. What did they find? Women outscored men in 15 of the 16 leadership competencies.4 The only area where they did not was Possesses Strategic Perspective.
“At every leadership level, more women were rated by their peers, their bosses, their direct reports and their other associates as better overall leaders than their male counterparts. The higher the career level, the wider that gap grows.” – Zenger and Folkman
Not Just a Woman’s Issue – It’s a BUSINESS Issue
For profitable firms, a move from no female leaders to 30% representation is associated with a 15% increase in the net revenue margin.5 So, companies that invest in women overall also see impressive results:
- 46% Return on Equity
- 60% Return on Invested Capital
- 84% Return on Sales6
Taking Action Has Real Results
Gender diversity helps companies attract and retain talented women. Companies cannot afford to ignore 50% of the potential workforce and not maximize more women in business.
Organizations that leverage our Women in Leadership program achieve a 90% retention rate and a 37% promotion rate of women participants.7
The women achieve exceptional results, as well. 92% expand their network and 92% increase their self-confidence.7
Make Your Move
It’s time to analyze gender diversity at your organization. Our workbook will walk you through it step-by-step. Download it here!
1 Pyramid: Women in S&P 500 Companies, Catalyst, 2019
2 Is Gender Diversity Profitable? Evidence from a Global Survey, Peterson Institute for International Economics, 2016
3 Women in the Workplace, Lean In, 2018
4 Are Women Better Leaders than Men?, Harvard Business Review, 2012
5 Is Gender Diversity Profitable? Evidence from a Global Survey, Peterson Institute for International Economics, 2016
7 IMPACT Group Internal Survey Responses, 2018