How Can We Attract, Retain, and Promote Women in Leadership Roles?
It’s time to take a fresh approach to gender imbalance in the corporate world!
In the late 1970s, organizations began to recognize and discuss the severe gender imbalance in the corporate world. Despite 40 years of progress, only 41% of senior or managerial positions are occupied by women globally. This gap is even more pronounced in the private sector, with a sharp decline in female representation at higher levels of leadership.
Several factors contribute to this discrepancy, such as unequal access to resources, unconscious biases, social stigma, and a lack of role models for aspiring female executives. Organizations often counter this problem through individual initiatives and one-off solutions, including elder care benefits, fertility benefits, maternity leave, and work-life balance opportunities. However, these efforts fail to address underlying issues that perpetuate gender disparity in leadership roles over time.
To more effectively bridge the gap between men and women in executive roles, a 2021 study by Gartner encourages companies to look beyond traditional solutions and take a holistic approach to consider three key areas: (1) aligning organizational EVP with women’s needs and preferences; (2) auditing internal processes for inclusion; and (3) supporting authenticity in leadership.
Based on Gartner’s study, it’s clear that gender imbalance in the corporate world is a complex problem and requires more than just individual initiatives to close the gap. If your organization is looking for help mitigating risk when it comes to closing this gender disparity gap, reach out to Critical Risk Solutions today! Our team of experts is ready and waiting to partner with you on creating an effective solution that helps bridge the divide between men and women at higher levels of leadership. Together we can create lasting change within organizations everywhere.
