Women in the Workplace – Still an Unfair Playing FieldOctober 11, 20172 min read
It’s a trend that has many reeling and wondering how to correct: many women working in the financial services industry on Wall Street today don't believe there are opportunities to advance to the most senior positions. This comes as corporate, academic and government leaders push for greater gender diversity at American companies.
A study by Lean In released today showed some startling statistics. Women in the Workplace 2017 took pipeline data from 222 companies employing more than 12 million people. As well, more than 70,000 employees completed a survey designed to explore their experiences regarding gender, opportunity, career and work-life issues.
The results were not good. The report showed: “Women remain significantly underrepresented in the corporate pipeline. From the outset, fewer women than men are hired at the entry level. At every subsequent step, the representation of women further declines, and women of color face an even more dramatic drop-off at senior levels. This disparity is not due to company-level attrition or lack of interest: women and men stay at their companies and ask for promotions at similar rates.”
In fact, from entry level, women represent 47 percent of all entry level hires, but only one in five women will become a C-Suite leader. For women of color, that number diminishes to one in 30. The report also shows that women are less likely to be promoted, receive raises or be supported throughout their careers.
So, what will it take to reverse this trend and make corporate America an equal playing field for all? What barriers need to be removed and what policies need to be changed? Is this a cultural shift, should it be regulated and can it be done? The situation is clearly unfair and there are many questions to be asked. Yet answers and solutions are by no means simple or easy to come by. That’s where experts from Missouri State University can help.
Dr. Shannon Wooden is a gender studies expert. She is also a published author. Dr. Wooden can speak about the gender pay gap and why companies need more female representation in senior and board levels. Click on her icon to contact her.