Women have been making gains in leadership positions in US companies since 2017, but only modest gains, according to McKinsey & Company’s 2022 Women in the Workplace study, produced in collaboration with LeanIn.org
The report, which details the state of working women in corporate America, shows that as men progress in their careers, they take a disproportionately larger percentage of the workplace leadership hierarchy pie compared to women.
The report finds that men in entry-level employment constituted 52% of the total workforce, while management positions equaled 60%, senior manager director positions 63%, vice president (VP) positions 68%, senior vice president (SVP) positions 71%, and C-suite positions 74%.
Women in entry-level employment equaled 48% of the total workforce, management positions 40%, senior manager director positions 36%, VP positions 32%, SVP positions 28%, and C-suite positions 26%.
While women’s leadership positions have improved by 1% point (entry level), 3% points (manager, senior manager/director, VP), 6% points (C-suite), and 7% points (SVP) since 2017, they still significantly lag behind their male counterparts.
McKinsey says one of the main reasons is what the report calls the broken rung: “For every 100 men promoted from entry level to manager, only 87 women are promoted, and only 82 women of colour are promoted. As a result, men significantly outnumber women at the manager level, and women can never catch up. There are simply too few women to promote into senior leadership positions.”
McKinsey suggests things are set to get worse with more women leaders leaving businesses than ever before, either looking for better opportunities or leaving the workforce altogether. “For every woman at the director level who gets promoted to the next level, two women directors are choosing to leave their company.”
The report surveyed 333 participating organisations and more than 40,000 employees.
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