- WeAreHuman
- Posts
- McKinsey & Company | Women in the Workplace 2024: The 10th-Anniversary Report (2024)
McKinsey & Company | Women in the Workplace 2024: The 10th-Anniversary Report (2024)
This comprehensive study, conducted in partnership with LeanIn, marks a decade of tracking women's experiences in corporate America. It highlights progress, ongoing challenges, and recommendations for fostering gender equity in the workplace.
Tanguy Dulac
September 22, 2024
DIVERSITY, EQUITY & INCLUSION | McKinsey & Company | Women in the Workplace 2024: The 10th-anniversary report
This comprehensive study, conducted in partnership with LeanIn, marks a decade of tracking women's experiences in corporate America. It highlights progress, ongoing challenges, and recommendations for fostering gender equity in the workplace.
DID YOU KNOW?
“For the first time in 10 years, companies are reporting a decline in career development, mentorship, and sponsorship programs for women, as well as in recruitment and internship initiatives specifically focused on advancing female talent.”
DID YOU SEE?
NEED AN EXECUTIVE SUMMARY?
Introduction
The Women in the Workplace 2024 report, published by McKinsey & LeanIn.Org, marks a decade of tracking women's progress in corporate America. It presents actionable insights for leaders, highlighting advancements and persistent challenges related to gender diversity, inclusion, and workplace equity.
Key Insights
C-suite Representation: Women now hold 29% of C-suite roles, up from 17% in 2015, showing steady progress. However, women of colour remain underrepresented at 7% of C-suite positions.
The "Broken Rung": For every 100 men promoted to manager, only 81 women achieve the same level, dropping to 54 Black women for every 100 men. This bottleneck significantly hinders the leadership pipeline for women.
Persistent Bias: 42% of senior women have witnessed microaggressions against other women, compared to just 10% of senior men, demonstrating ongoing issues in workplace culture. Additionally, women of colour, LGBTQ+ women, and women with disabilities face the highest rates of demeaning interactions.
Work-Life Balance: Around 40% of women say they are responsible for most household work, the same percentage reported in 2016, while more men believe household duties are equally shared.
Recommendations
Strengthen Career Support: Equip managers with tools and resources to actively support women’s career growth and advancement, ensuring they provide guidance and feedback tailored to women’s unique challenges.
Address Micro-aggressions: Implement stricter accountability measures and comprehensive training to reduce micro-aggressions and make the workplace more inclusive and supportive of women.
Enhance Allyship Programs: Revise bias and allyship training to ensure it leads to tangible, measurable behaviour changes, fostering a more collaborative environment for women, particularly those from marginalised groups.
Prioritise Work-Life Balance: Encourage policies that support flexible work arrangements, particularly for women managing caregiving responsibilities, to reduce the work-life disparity they face.
Conclusion
The findings from this report highlight the importance of focused and sustained efforts to overcome deeply ingrained biases and barriers for women in corporate America. By implementing these strategies, organisations can create a more inclusive environment and promote the advancement of women at all levels, driving meaningful progress in gender parity and workplace equity.
WANT THE COMPLETE STORY?
Access the source here.