A couple of weeks ago, we found ourselves riveted by a LinkedIn webinar featuring Sheryl Sandberg entitled “Elevating Your Career and Driving Equity at Work.” In it, she shared her takeaways from LeanIn.org’s annual Women in the Workplace Report with McKinsey, which coincided with the 10th anniversary of her very successful book Lean In: Women, Work and the Will to Lead. As a female-owned and led firm, we care deeply about this subject.
Of the major corporations included in the study, the findings revealed that just 10% had female CEOs and 29% of their C-suite was female. Remarkably, that number is up 17% from 2015, at a time when news reports were focused on women leaving the workplace. But, the study revealed that the Covid-19 pandemic led to a host of corporate restructurings and consolidation, at which point a number of senior male executives retired or left the workforce. And most of the 29% of women celebrated in the C-suite hold staff positions, rather than line positions – think CHRO and CLO – all of which rarely ascend into the CEO role.
Sandberg suggested that women might benefit from targeting more line roles or careers early on, like Mary Barra, CEO of General Motors today, who chose engineering at a time when few women were following that path.
Regardless of career path, Sandberg shared that the biggest obstacle facing women in the workplace today is happening very early in their careers – at the time of their first promotion to manager. She calls it the broken rung of the ladder. Bias studies in the workplace tell us that men are often given their first promotion to manage people based on their potential, whereas women are only given promotions based on experience (if they have proven themselves). So, if this is the case, men are far more likely to get ahead sooner than women.
Key Takeaway? It’s important for companies to identify and lay out the criteria for a promotion well ahead of time, so that the playing field is leveled. Often, the criteria is determined by those already in the job and succeeding, which again tends to favor men.
It’s also important for women to be more direct with their managers about their career aspirations and ambitions. While studies show it is more difficult for women – take the opportunity and ask for what you want, ladies!
While parenting is still one of the biggest biases out there and career disruptors for women, it seems, fatherhood has the opposite effect. Findings show companies would rather pick a young father than a childless male for a promotion because he is seen as more driven or hungrier and responsible. Sandberg holds that companies need to normalize paternity leave in the same way that they normalize maternity leave. Over time, this may help dispel notions that women will not want to return after childbirth or will want a limited schedule or fewer responsibilities.
These are complex issues and societal change takes time. It appears that we are making great strides in the right direction.
As female leaders, we think it’s important to remind ourselves of the biases that still exist in the workplace and to model the behaviors and outcomes we all want to see in the next generation of females.
Thanks to Ms. Sandberg and McKinsey for helping to keep us focused on continued progress and ascension to the highest levels of executive elevation.
