Women in workforce still lag behind men, report

Women’s representation in corporate America has improved by 29% from 17% in 2015. However, they still hold less power in the workplace than men, according to a new LeanIn.org and McKinsey study that surveyed 1,000 companies.

The report found
The share of women in the lowest managerial roles increased by 2% in the last decade, from 37% to 39%.

10% of CEOs in Fortune 500 companies are women, compared to 5% in 2015.

Women face persistent challenges early in their careers. For every 100 men promoted to management, only 81 women and even fewer reach the same level.

The disparity worsens for women of color (WOC), with only 54 Black women and 65 Latina women advancing to management positions. 

The report estimates that true parity for women in leadership roles could take decades. White women could reach it by 2046, while WOC by 2074.

Additionally, diversity initiatives are declining, with only 18% of companies offering recruitment programs for WOC, down from 30% in 2022.

Despite these challenges, companies have improved in some areas. Bias training is more common and is now offered by 69% of organizations (up from 53% in 2015), and employee benefits have expanded.

Half of companies now provide emergency childcare services, up from one-third in 2016, and offer support for caregivers managing family health issues.

Meanwhile, research shows that companies with more women in leadership enjoy greater innovation, stronger cultures, and better performance.