According to McKinsey, it could take 50 years for gender parity to be achieved in corporate America. — AFP
IN THE United States, progress has been made in terms of gender parity in the workplace, but much remains to be done. Indeed, it could be 50 years before we can expect to see the gender gap closed in corporate America.
That’s what McKinsey claims in its latest and 10th edition of its annual “Women in the Workplace” report, produced in collaboration with LeanIn.org. In it, the consultancy explains that gender parity in the workplace could take as much as 50 years to achieve in the US.
“At the current pace of progress, it will take 22 years to reach parity for white women – and more than twice as long for women of colour. Put another way, it will take 48 years for the representation of white women and women of colour in senior leadership to reflect their share of the US population,” the analysis reads.
Women currently account for 37% of corporate directors and 34% of vice-presidents. They account for 29% of executive level managers – or C-suite executives – in US firms.
This figure has risen sharply since 2015, when they accounted for just 17% of C-suite roles. While they are increasingly occupying positions of power, women are still in the minority in corporate governing bodies, especially when they come from diverse ethnic backgrounds. Indeed, women of colour account for just 7% of C-suite roles.
There are more women managers (39%) but, according to the McKinsey report, they have likely had to show perseverance and determination to get where they are.
‘Broken rung’
In fact, for every 100 men promoted to manager, only 81 women were promoted.
“As a result of this ‘broken rung,’ men significantly outnumber women at the manager level, which makes it nearly impossible for companies to support sustained progress at more senior levels,” the report states.
In an attempt to remedy this situation, many companies have stepped up their initiatives in favor of parity; 86% of those surveyed have offered their employees training to overcome conscious or unconscious bias against women and people of colour.
But these workshops are struggling to change attitudes. Only 29% of men say they will intervene when they witness a situation that could be described as a microaggression against a woman of color.
“Over the last decade, women have remained ambitious and committed to their jobs,” the report reads.
“Now, we need companies to stay ambitious and committed to the important work they’ve started. We believe corporate America can do better, and we know women deserve better.” – AFP Relaxnews
