Women actually move up the leadership ladder faster in developing nations than they do in such established economies as the United States and Canada. And in those western nations, unless conditions change, women will likely either lose ground in their effort to reach the C-Suite, or stand pat over the next decade.
This forecast comes from a Mercer study that analyzed data from organizations representing 1.7 million workers globally, 40 percent of whom were women.
"Women, who continue to be underrepresented at most levels in the workforce, are not progressing in their careers despite the past two decades of organizational efforts to achieve gender diversity and equality," Mercer reported in a summary of the results of "When Women Thrive, Businesses Thrive."
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Noting that the study showed women globally comprise just 26 percent of senior managers and 19 percent of executives, Mercer said: "If current approaches continue unchanged, only one-third of executive positions will be held by women over the next 10 years. In the mature economies of the United States and Canada, however, just one-fourth of women will hold executive positions by 2024."
Among the findings:
Just over half (56 percent) of responding corporations said their senior executives played a role in diversity/inclusion programs, despite evidence that such involvement creates greater opportunities for women to advance to higher levels of management.
When a dedicated team of managers focuses on pay equity, an organization reports higher levels of women in top management roles. "Common policies – those intended to ensure equity through flexible work schedules and leave programs – are, in the absence of management, associated with slower improvement in the number of women in leadership positions," Mercer found.
Organizations that adopt "non-traditional solutions to gender diversity" report having higher percentages of women in C-Suite roles. These programs ranged from gender specific training and financial counseling to gender-specific health and retirement education programs. "Yet, fewer than 15 percent of organizations monitor savings and offer retirement programs customized to different gender behaviors," Mercer said.
When the data was studied by region, companies in North America, Europe and Oceania all reported that women were underrepresented at several career levels. "The U.S. and Canada lag behind their male counterparts at every career level except the professional and executive levels, while women in Europe/Oceania lag behind in all but the manager level," Mercer said. Women fared better in developing nations, and Latin America reported the highest percentage of female recruitment for entry level positions.
See also: Women-owned businesses on a streak
In the United States and Canada, Mercer predicted there would be little increase in the percentage of female executives, perhaps increasing incrementally from 24 percent today to 26 percent by 2024.
Forecasts were more bullish for Europe/Oceania and Latin America. Mercer projected an increase in Europe/Oceania from 18 percent to 47 percent, and in Latin America from the current 12 percent to 39 percent by 2024.
"While the diversity efforts of the past several decades have resulted in some improvements in women's participation rates and career trajectories, our research shows that we're still decades away from true gender equality – if we keep doing what we're doing," said Pat Milligan, president of Mercer's North America Region. "It's time to act differently to realize the benefit of their full participation and address the unique needs of female employees."
"Our research shows employers that are focused on holistic solutions to build diversity are most successful – and organizations applying predictive analytics to link specific programs and talent strategies to the advancement, engagement, and retention of women are most effective," said Brian Levine, Innovation Leader for Mercer's North America Workforce Strategy & Analytics consulting business.
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
