Oct. 20, 2022 "Women in leadership roles are quitting their jobs at the highest rate ever": Today I found this article by Kelsey Butler and Matthew Boyle on the Financial Post:
Women are leaving the top ranks of companies at higher rates than ever before — as female employees remain less likely to get promoted into leadership roles in the first place.
For every woman at the director level who gets promoted, two female directors are choosing to leave their company, according to a new McKinsey & Co. and LeanIn.org report. The organizations, which analyzed data from 12 million employees at more than 330 companies, have been tracking the state of female workers since 2015, with the findings published in an annual report.
“Women are just as ambitious as men, but they are leaving their companies at the highest rates we’ve ever seen and at higher rates than men in leadership,” LeanIn CEO Rachel Thomas said. “We really think this could spell disaster for companies.”
Women have long been at a disadvantage in the workplace, but many of those problems have been exacerbated by the COVID-19 pandemic.
A lack of affordable child care has contributed to more women leaving the workforce than men in recent years.
A gender pay gap, which had been narrowing, also stalled during the pandemic.
Now, those in the highest ranks of their organizations are re-evaluating — because
of a lack of advancement opportunities,
flexibility
or unequal treatment
or a combination of these and other factors.
Take Susan Chapman-Hughes, who left her job at a payments company after an 11-year stint. Chapman-Hughes, who ran digital transformation efforts for one of its business units, said the next opportunity she was offered there “did not fit the narrative” she had for herself.
“Every organization cannot give you what you want for the rest of your career,” she said.
“You have to be smart enough to chase those desires.”
Currently, only one in four C-suite leaders is a woman, according to the report. That compares to one in 20 for women of colour, per the summary.
And for every 100 men promoted to a manager role, from entry-level, 87 women are promoted. That number drops to 82 for women of colour. Those figures compare to 86 and 85, for all women and women of colour in last year’s report.
Carmen Bryant recently quit her position as marketing director at an online job listings company after her brother died of pancreatic cancer.
“I had this epiphany that life is really short, and there’s no reason why I need to be somewhere that is not serving me,” said Bryant, who wanted a more expansive role.
That mind-set helped nudge Bryant, who is Black, to jump to WizeHire, an online hiring platform, where she’s vice president of marketing.
“A lot of women think if they work hard, people will notice and that will be enough,” she said.
“The truth of the matter is women have to advocate for themselves.
And Black women have to walk a fine line, being careful about how aggressive you are perceived.”
As companies continue tweaking their telecommuting policies after the explosion of remote work brought on by the pandemic, McKinsey and LeanIn found that only one in 10 female employees want to work from the office most of the time. The summary of their report said “many” woman call hybrid work schedules a key reason for joining or sticking with an employer.
“Women are not breaking up with work, they are breaking up with companies who are not delivering
the work culture
and the opportunity
and the flexibility
that’s so critically important to them,” Thomas said.
Women executives are quitting their jobs at the fastest rate ever | Financial Post
1 comment:
Gee, I guess the holy grail isn't so great after all.
P.S. All those numbers that purport to show discrimination do not. Left out is personal preference and, as any clinical psychologist will tell you, men and women on average have different goals in life. This is highly demonstrated by the types of programs each take at university.
Oct. 28, 2022 "Women filled 45% of empty board seats in 2022: Survey": Today I found this article by Iva Poshnjari on BNN Bloomberg:
Female representation on Canadian corporate boards increased this year, according to a report by the Canadian Securities Administrators (CSA).
A report released Thursday found that 45 per cent of vacant board positions were filled by women this year, which is a 10 per cent increase from a year ago.
Data collected on March 31 showed women held 24 per cent of board seats, a two per cent gain from last year. Of these seats, seven per cent are chairman positions.
The number of board seats occupied by women has more than doubled since the CSA survey first began eight years ago.
The industries that had the most female board representation were manufacturing, real estate and utilities. On the other end of the spectrum, the oil and gas sector, mining and biotechnology had the least.
“Investors are increasingly looking for more information about diversity on boards and in executive officer positions," Stan Magidson, the chair of the Canadian Securities Administrators, said in the press release.
The report also found that 39 per cent of businesses have adopted targets for female representation on their boards, which is up seven per cent from last year.
“The increased representation of women in corporate board rooms and in senior leadership is encouraging,” Magidson stated.
Methodology:
“The findings above were the result of the Canadian Securities Administrators eight annual review of the representation of women on boards and in executive officer positions in Canada. The data was collected by the disclosures of 625 non-venture issuers and have been published by securities regulatory authorities throughout the country.“
Women filled 45% of empty board seats in 2022: Survey - BNN Bloomberg
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