Statistics from some of the most comprehensive studies show that the gender gap in leadership positions is narrowing.
A lot has happened since Katharine Graham of the Washington Post Co. became the first woman CEO to make the Fortune 500 list five decades ago. According to a Pew Research Center study, the number of women CEOs now leading Fortune 500 companies in the United States stands at 10.6% as of the end of 2023. In other leadership roles, such as C-suite executives, women’s shares in those positions are also on the rise.
Watching the numbers climb on a chart or bar graph year after year is encouraging. However, a closer consideration of the rate of movement reveals that while things may be going in the right direction, it is a less impressive measure of how well the country is doing to close the gender gap. In other words, to quote the researchers of the latest Mckinsey & Company Women in the Workplace report, “Progress is not parity.”
For instance, for the women CEOs of Fortune 500 companies, the 6.6% increase from 2013 to 2023 averages only a 1.5% increase each year. While studies indicate that 29% of C-Suite leaders were women by 2024, up 12% from 2015, female managers in the corporate pipeline were moving at a much slower pace, advancing only two percentage points between 2015 and 2024. Moreover, the number of women corporate managers has declined since its peak in 2021. All of the statistics are much lower for women of color.
What does it all mean? It means that at this rate, it will take an estimated 50 years to reach gender parity in the United States.
Facing Obstacles
The numbers evidence that there are still many obstacles women face in their climb to leadership in corporate America. In the Pew study, researchers found that one of the most common occurrences is that women have to do more to prove themselves worthy of promotions to leadership positions.
“We often have to demonstrate our capabilities more than our male counterparts to gain the same recognition and opportunities. I have personally experienced obstacles that hindered my progress,” said Billie Dragoo, founder and CEO of RepuCare. “In the early days of my business, I struggled to compete for contracts or even to get loans to grow my business. I witnessed male counterparts who didn’t have my experience or my strong results get selected for large and lucrative projects.”
Dragoo said the best way she found to overcome the obstacles was to develop the fortitude to keep going and surround herself with mentors and close friends who reminded her of her talents and opened doors for her.
The Pew study also noted that women face other obstacles including working in companies with high occurrences of gender discrimination and lacking diversity and inclusion mindsets. Respondents also noted that the absence of encouragement at an early age is another reason women aren’t represented in more leadership roles.
“It can be difficult to assess your own trajectory objectively, but I can say that I have observed this for other women in leadership roles,” said Anna Brown, Vice President – Strategy and Ecosystem Development with Wabash. “In conversations with my female peers, we consistently recognize a pattern: women frequently need to prove that they are fully ready and capable for their next role, while for men, there tends to be an assumption that given the opportunity that they will step up.”
Benefits of Gender Diversity
Several studies show that women bring unique skill sets to the workplace that lead to more profitable companies, stronger business-to-business collaborations and a more inclusive company culture.
“Women often excel in multitasking and time management. They frequently take on busy roles, coordinating projects and presentations, which sometimes get handed off to their male colleagues,” said Kathie DeRuiter, Executive Vice President, Senior Operations Officer for Horizon Bank. “Personally, I’ve found that embracing my skillset and strengths with confidence and a clear strategy has enabled me to play a key role in senior leadership. Being a subject matter expert gives me the confidence in my contributions.”
Diversity in the workplace allows for increased innovation, varied talents and perspectives, and a more inviting corporate presence. The question isn’t whether or not gender parity is right for corporate America, but rather, what is taking so long to get there?
So, we asked women leaders in Indiana: What more can be done to help women overcome barriers, elevate their representation and foster a culture of support promoting career advancement?
Here are their answers:
Karen Mangia, Thought Leader, Coach
Choose to challenge candidate pools. Choose to challenge interview panels. Choose to challenge promotion criteria. And create advocates. Your voice -- and activating voices who have access -- is the most powerful asset in leading change.
Build a robust support network outside of work. From physical, mental, emotional and financial support to socialization and fun, the more you emphasize quality of life outside of work, the more capacity you have to address the barriers and obstacles inside of work.
Anna Brown, Vice President – Strategy and Ecosystem Development
Over the last 20+ years of my career, I have seen the representation of women in my industry improve exponentially. My hope is that the next generation entering the workforce will continue to embrace diversity and be less conscious of differences in gender or race. For women in male-dominated industries, I believe the best thing we can do is mentor other women, seek out those who show potential and help them advance in the organization. By consistently demonstrating through our leadership and performance that women should have a seat at the table, we can pave the way for future generations.
Michelle Canak Williams, Organization Leadership Consultant, Executive Coach
I believe it important for leaders in organizations to first become more aware of the barriers women encounter in the workplace like ageism, undervalued roles, and self-misperceptions that women often have of themselves. Research found that women have an accurate self-view of themselves as leaders, their effectiveness, and their capabilities just like their male counterparts. However, how women perceive that others view them is where they differ from the men (Eurich, 2023). Women still tend to underestimate their true value and often feel inferior.
Equally assigning the undervalued roles to both men and women within the organization is a good second step. Finally, provide honest and specific feedback to both women and men. Women often tend to receive vague and positive feedback. However, it is often a result of another barrier, benevolent sexism, where bosses and/or colleagues avoid giving women constructive or negative feedback to spare women’s feelings. Meanwhile, men are receiving detailed feedback.
Women also being aware of the barriers they encounter enables them to have the ability to do something different. Women can be mindful and try to position themselves and not spend the majority of their time handling undervalued roles and tasks. They should remind themselves to continue to demonstrate their strengths and know that their self-view is how others see them, too. Women can be more vocal with their desire to lead and grow within the company. They can ask specific questions about what they can do to best position themselves for the next promotion or raise. Women who have been successful in advancing in these male-dominated industries can mentor and guide the next generation of women. Men in leadership should also be mindful and willing to help mentor and guide upcoming females in the industry as well.
Aida Haigh, Director, Strategy
To elevate the representation of women in male-dominated industries, a multifaceted approach is essential:
Cultural Transformation: Organizations must actively foster inclusive cultures where diversity is prioritized. This includes promoting open dialogue about gender disparities and creating a supportive environment that encourages women to step into leadership roles.
Mentorship and Sponsorship: Beyond mentoring, sponsorship programs are crucial. Sponsors actively advocate for women to receive high-visibility projects and leadership opportunities, which can accelerate career progression.
STEM and Leadership Pipeline Development: Encouraging women to enter and remain in STEM fields, often the backbone of male-dominated industries, is vital. This can be done through partnerships with educational institutions and providing scholarships and internships to young women interested in these fields.
Addressing Work-Life Balance and Flexibility: Offering more flexible work options, including remote work and extended family leave, allows women to manage personal responsibilities without sacrificing career advancement. This helps retain talent and support long-term growth.
Challenging Bias and Inequity: Implementing unconscious bias training and ensuring that performance reviews, promotions, and pay structures are based on merit can help eliminate the systemic biases that often hinder women’s career advancement.
To help women overcome barriers to advancement across all industries, several additional strategies can be employed:
Transparent Career Pathways: Clear and accessible promotion pathways are critical. Organizations should ensure that women understand the requirements for advancement and that those requirements are uniformly applied.
Equal Pay and Benefits: Ensuring pay equity across genders is a fundamental step in helping women advance. Companies should regularly audit compensation structures to identify and correct any disparities.
Leadership Development Programs: Providing women with access to leadership training, executive coaching, and opportunities to lead strategic initiatives helps prepare them for senior roles and builds confidence in their leadership capabilities.
Eliminating Workplace Harassment: Creating safe, respectful work environments through strict policies and enforcement of anti-harassment measures is key to ensuring women feel secure and supported at work.
Visibility and Recognition: Women’s achievements should be recognized and celebrated within organizations. By highlighting their successes, companies can inspire other women and show that female leadership is valued and attainable.
Kathie DeRuiter, Executive Vice President, Senior Operations Officer
Women supporting women is an excellent foundation, but it's important to also ensure balanced communication and support for all team members. Mentorship programs, leadership training, and industry seminars provide valuable opportunities to network with women in similar roles.
Dr. Billie Dragoo, Founder and CEO
Overcoming barriers to women’s advancement starts with acknowledging that there is a problem. For example, a major tech company’s CEO believed that his corporation was equitable and that women were promoted at the same rate as men and were being paid at the same levels. His assumptions were challenged by several women leaders. As a result, he ordered a 10-year review of promotions and pay. He discovered that women were not being promoted at the same rate as men and were underpaid after conducting the study.
To elevate the representation of women in male-dominated industries, organizations should implement targeted recruitment and mentorship programs. Partnering with organizations focused on women in relevant field can help attract qualified candidates. Establishing mentorship programs pairing experienced women with aspiring female professionals provides valuable support. Offering flexible work arrangements is crucial in accommodating women’s needs.
Unconscious bias training for managers and employees addresses potential barriers to women’s advancement and creates a more equitable workplace. Highlighting successful women through public recognition and awards can inspire younger generations.
Holding managers accountable for supporting women’s career advancement is also vital for creating a sustainable culture where women feel empowered to reach their full potential.
Leadership development programs specifically designed for women can equip them with the skills and confidence needed to advance in their careers. These programs should focus on leadership competencies and address any unique challenges women may face.
When women leaders are given opportunities, the financial results are astounding, and we have a decade of research to prove that. It’s now a competitive advantage in the marketplace to have women in leadership roles.
Makenzie George, President
The past few years, there has been a trend in the world with diversity targets and hires. While these are a great starting point from the hiring perspective, representation includes ensuring that women feel like they are in a company in which they can stay. Often, I have seen that women who are hired at an entry-level position do not have the same progression as their male counterparts, or many leave as they approach the leadership level.
Women need mentors who can provide support and guidance, and most importantly, sponsors who will advocate for them in rooms they are not in. From the hiring perspective, companies and human resource representatives must address biases in recruitment and promotion by implementing a transition process and setting measurable diversity goals that they hold themselves accountable for meeting.
To help women overcome the barriers experienced in advancement in the workplace, visibility matters – women who are highlighted in leadership roles, panels and in public or internal facing roles allow younger women to see a pathway and create a system where they feel they can succeed. Recognizing gender biases from both men and women allows women to feel validated in their challenges. Companies, managers and supervisors must make it safe for women to seek feedback, ask for promotions and discuss career growth. It’s not just about opening doors, but also helping women walk through them.
