This content is sponsored by McKinsey & Company.
A recent study conducted by McKinsey and Company and LeanIn.org sheds light on the workplace experiences of men and women across corporate America. The report, Women in the Workplace, is the largest of its kind, surveying over 65,000 employees at every level of the corporate pipeline.
Over the course of six years, the findings have drawn a closer look at the disparities between men and women and the intersectionality of race, gender and disabilities in the workplace. As corporate America continues to navigate the COVID-19 pandemic, it introduces a new set of challenges for women. From the gap in effective allyship to burnout and the broken rung, climbing the corporate ladder remains a struggle. But there’s light at the end of the tunnel.
Representation of women at senior levels increases over time in healthcare, banking and media. Interestingly, public and social sectors are leading the pathway forward.
“I am very proud to say that we touch all industries and sectors with the research, and we’ve included public and social sectors in a wholesome and fulsome way,” said Nora Gardner, a senior partner at McKinsey and Company. “When you look at the results, the pipeline analysis for public and social sector there’s a real bright spot there, as women are above parity at entry-level and between 30 and 40% at the most senior levels.”
While the data shows an increase in representation, it also highlights the need to address what McKinsey and Company call the “broken rung.” The broken rung is the lack of progression for women beyond entry-level positions. According to Gardner, for every 100 men promoted to manager, only 86 women are promoted. The broken rung effect across the pipeline decreases representation for women at more senior levels, especially women of color.
“At the C-Suite level, I mentioned about a quarter of those leaders are women, and only four percent are women of color,” said Gardner. One of many contributing factors to this is the gap in effective allyship.
Allyship or an ally is someone who stands up for others, recognizes their work, creates opportunities for them, and points out bias and discrimination when they see it, said Gardner.
Research shows that 75% of white employees consider themselves allies, but only 20% follow through with action. The study also shows that 93% of companies say they have committed to promoting people and women of color, but only 40% of employees surveyed believe their companies are following through on those commitments. The gap between intent and follow-through signals the need for continued growth in diversity, equity, and inclusion (DEI).
“Some of the things that we see women leaders doing that we’d love to see male leaders doing is being a sponsor, being an ally, spending time outside of the work, their core work on diversity, equity, inclusion, and investing in the wellbeing of their employees,” said Gardner.
McKinsey and Company stress the importance of valuing employee wellbeing, as it proves to have a direct correlation with performance outcomes. When employees feel valued and connected to the mission, they are less likely to leave, and their performance increases, creating a better workplace experience for all, Gardner explained.
When it comes to addressing the broken rung, senior leaders are encouraged to take a closer look at their own implicit bias.
“One bright spot that we see companies doing is removing bias from their hiring processes, and you actually see that improving in the numbers as far as parity at entry-level,” said Gardner. “What we’re encouraging companies to do, and what we see leading organization do, is to take the same steps that they take to remove bias from hiring and apply them to their internal promotion processes.”
Gardner says there’s no easy answer or quick fix to addressing the challenges women face in the workplace, but prioritizing employee wellbeing and holding leaders accountable is a step forward in the right direction.
To learn more about the Women in the Workplace study and hear what other leading companies are doing to drive change, visit www.McKinseyandCompany.org.
