Women represent 50.8% of the United States population. And while women enter the workforce at the same rate as men, women and particularly multicultural women are not advancing into corporate leadership positions at an equal rate as men.
Not only is it the “right thing to do,” data supports that there is a bottom line benefit to gender parity, and in order to recruit and retain the best talent, companies must advance and invest in women.
The 2023 global gender gap score stands at 68.4%, indicating it will take 131 years to reach full parity. More from the World Economic Forum on the current state and evolution of gender parity in the U.S. and across the globe below.
Women currently hold 31 (or 6.2%) CEO positions at S&P 500 companies
In 2021 women represented 48% of entry level professionals, 30% of VPs and 24% of C-Suite executives
The gap in representation at every level of the pipeline is even wider for multicultural women, who make up 17% of entry level professionals, 7% of VPs and only 4% of C-Suite executives
In January 2022 there were over 1 million fewer women in the labor force as compared to February 2020
Companies with more than 30% women executives are more likely to outperform companies with smaller representations of women leaders
Companies with more diverse management earned 38% more of their revenues, on average, from innovative products and services than companies with less diversity in management roles
There is a positive correlation between increased gender diversity in leadership positions and greater returns on capital
Companies in the top quartile for executive team gender diversity are 25% more likely to have above-average profitability than companies in the bottom quartile