Assessing Women’s Advancement in Corporate America

September 18, 2024

Raven O'Neal

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A decade after the first McKinsey and Lean In “Women in the Workplace” report, progress on gender equity in corporate America shows mixed results.

This content originally appeared in the Harvard Business Review by Ruchika T. Malhotra.

While women now hold 29% of C-suite positions, up from 17% in 2015, significant challenges persist, especially for women of color. At the current rate, it will take women of color 48 years to reach parity in corporate America, compared to 22 years for white women.

The report also finds that one in five women still report being the only person of their gender in work situations, unchanged since 2018. Concerningly, organizational commitments to gender and racial diversity have declined since 2019.

To continue advancing gender equity, experts recommend reducing bias in hiring and performance evaluations, activating managers to build inclusive cultures, creating allyship opportunities for men, and providing benefits that support parents and caregivers.

Despite the progress made, experts warn against complacency and emphasize the need for sustained commitment to gender and racial equity in the workplace.

To view the original content by Ruchika T. Malhotra, head over to the Harvard Business Review.

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About the Author: Raven O'Neal

Raven O'Neal is a globally recognized business strategist, entrepreneur, and podcast host empowering women in business. She challenges norms, amplifies women's voices, and supports entrepreneurs through tailored strategies, engaging discussions, and global initiatives.