Join Alexis Krivkovich and Lareina Yee, senior partners at McKinsey and experts on women in the workplace, as they delve into a decade of research illuminating the progress and setbacks women face in their careers. They discuss troubling trends in diversity commitments and the unique challenges faced by women of color. The conversation includes practical allyship strategies for leaders and innovative solutions to advance women's roles in corporate America, emphasizing the urgent need for systemic change and equity in the workplace.
Despite progress in women's representation in corporate leadership, many are placed in roles that lack influence, necessitating internal talent development.
A decline in prioritizing diversity initiatives reflects organizational fatigue over gender equity, calling for renewed commitment to equitable access for all talent.
Deep dives
Anniversary Insights: The Evolution of Women's Roles
The conversation highlights the significant strides made over the past decade in women's representation within corporate leadership, particularly in the C-suite, where representation has risen from 17% to 29%. However, the progress is fragile and not easily replicable, as many women in these positions are often appointed to staff roles that lack direct influence on business outcomes. There is an urgent need for companies to focus not only on filling leadership roles with diverse candidates but also on nurturing and promoting talent internally. Without significant investment in internal talent development, the pipeline for future female leaders may stagnate, underscoring the importance of creating a sustainable environment for growth at all levels.
Challenges in Diversity Commitment
In recent years, companies have shown a concerning trend of deprioritizing diversity initiatives, with a noticeable decline in those ranking diversity as a top agenda item. This regression is attributed to various market challenges, such as supply chain shocks and inflation, leading many organizations to divert their focus elsewhere. However, this shift indicates a deeper issue of fatigue regarding progress towards gender equity and a troubling reframing of diversity efforts as a zero-sum game. To counteract this worrying trend, organizations must reinvigorate their commitment to equitable access for all talent, ensuring that diversity remains a priority and recognizing it as integral for long-term success.
The Importance of Flexibility and Support
Flexibility in the workplace has emerged as a critical need for women, particularly those balancing professional and personal responsibilities such as childcare or elder care. The return to the office presents both challenges and potential benefits; however, it is less about the frequency of office attendance and more about the provision of a flexible work environment. Companies that prioritize clear benefits for working mothers and encourage practices that accommodate their unique demands can foster a more supportive atmosphere. Ultimately, by recognizing the multifaceted roles women play in both their professional and personal lives, organizations can create structures that genuinely promote advancement rather than hinder it.
Ten years of research on women in the workplace, conducted by McKinsey in partnership with LeanIn.Org, reveals what’s better, what’s worse, and what all of us can do now to help more women advance—more quickly—at work. On this episode of The McKinsey Podcast, McKinsey senior partners Alexis Krivkovich and Lareina Yee speak with global editorial director Lucia Rahilly about where women’s experiences have improved, stalled, and even worsened over the past ten years, as well as about how to finally hasten the pace of change.