Although women are making strides in the corporate world, there is still work that can be done to level the landscape.
Research from Catalyst, a global nonprofit focused on empowering and accelerating women in business, shows the needle is moving, albeit slowly. In nearly 10 years, the number of women in senior roles in the United States increased just 1 percent. At Standard & Poor’s 500 index companies, overall women’s representation is far behind: 5.2 percent CEOs, 11 percent top earners and 26.5 percent senior-level officials and managers. Less than 5 percent of senior level positions are held by women of color. Men still lead more than 95 percent of the most powerful companies in the United States.
On March 7, the eve of International Women’s Day 2018, dozens of global companies will “light up” their buildings and skylines with the female symbol as part of the “Catalyst Skyline Takeover,” which is a visual realization of the international business community’s commitment to greater diversity, inclusion and gender equality in workplaces around the world.
If you’re looking for ways to promote change in your workplace, explore these five steps that can help build a work environment where everyone can advance and succeed:
Assess and formalize pay scales. As numerous studies indicate, wage disparity is one of the most obvious signs of inequality in the workplace. A fair pay scale outlines specific responsibilities and corresponding compensation rates, and can be applied to roles across the board regardless of race, gender or other potential discriminatory factors.
Ensure growth opportunities exist. Leveling the pay scale is an important step, but ensuring equal access to the positions at the higher end of that scale is an essential supporting move. Simply saying you’ll pay a woman the same as a man in the same job falls short if all candidates, regardless of gender, race or ethnicity are not given the same chance to compete for more senior positions.
Engage in programs that celebrate women of color. Tap into resources that honor women in leadership and foster growth for aspiring women leaders from racially and ethnically diverse backgrounds, such as those available through Catalyst. The nonprofit offers a host of ongoing workshops, programs, trainings and consulting services designed to promote inclusive workplaces, along with events around the world.
Implement mentorship programs. Positive role models can give future leaders the vision to dream big and the guidance to make those dreams a reality. Putting aspiring women leaders in close contact with other women who have attained success in their field helps set a course toward achievement. It also helps men to advance and develop unbiased leadership. Since the majority of business leaders are currently men, change for women can only be accelerated if all those in leadership positions work together.
Support parental involvement. Historically, the issue of parenting and the workforce has been dominated by discussions around maternity leave policies, but more recently that dialogue has evolved. Men, too, desire more time with their families, and through equal parental leave policies, workplaces can allow women and men within all types of family structures to thrive in their careers and at home.
Find more resources and recommendations for promoting workplace equality at catalyst.org. (Family Features)