Changing Executive Opportunities (CEO) - Women Breaking Barriers

Changing Executive Opportunities: Breaking Barriers and Making Strides

In the past few decades, women have been making tremendous strides in the workplace, including breaking through the glass ceiling in executive positions. With Women's History Month underway, it's important to recognize the progress that has been made and continue pushing for gender equality in all industries.

However, there is still a long way to go in terms of gender equality in executive positions. The same McKinsey report found that only 18% of C-suite positions are held by women globally, and only 22% of companies have a female executive team member.

Why is this the case? There are several reasons, including unconscious bias, lack of mentorship and sponsorship, and difficulty balancing work and family responsibilities. However, the good news is that these barriers can be overcome, and women are making strides in doing so.

One way that women are breaking through barriers and making strides is by actively seeking out mentorship and sponsorship. Mentorship is a relationship in which a more experienced or knowledgeable person provides guidance and advice to a less experienced or knowledgeable person, while sponsorship is a relationship in which a more experienced or influential person advocates for a less experienced or influential person to help them advance their career.

A survey by Catalyst found that women who received career development support, such as mentoring and sponsorship, were more likely to aspire to top management positions and receive promotions than those who did not receive such support. However, women are less likely than men to receive mentorship and sponsorship. The same Catalyst

survey found that while 73% of men had received career development support, only 65% of women had.

To overcome this barrier, women are proactively seeking out mentorship and sponsorship opportunities. They are networking with other professionals, joining industry groups and organizations, and seeking out mentors and sponsors both inside and outside their companies. Additionally, some companies are implementing formal mentorship and sponsorship programs to help women advance their careers.

Another way that women are breaking through barriers is by advocating for themselves and others. Women are learning to assert themselves and negotiate for higher salaries, better benefits, and more opportunities for advancement. Additionally, women are supporting other women by creating networks and communities that provide support, advice, and resources.

One example of this is the #MeToo movement, which started in 2017 as a way for women to share their experiences of sexual harassment and assault. The movement quickly grew into a broader movement for gender equality in the workplace, with women advocating for better policies and practices to prevent harassment and discrimination.

As more women break through barriers and advance into executive positions, they are also becoming role models and advocates for other women. They are using their positions of influence to create more opportunities for women, mentor and sponsor other women, and advocate for policies and practices that promote gender equality.

Despite the progress that has been made, there is still work to be done to achieve gender equality in executive positions. Here are some additional statistics that highlight the need for continued progress:

• Women make up only 5% of Fortune 500 CEOs (Fortune)

• Women make up only 20% of board seats at S&P 500 companies (Catalyst)

• Women earn only 81 cents for every dollar earned by men (National Women's Law Center)

• Women of color face even greater barriers, with Black women earning only 63 cents and Latina women earning only 55 cents for every dollar