Is it true there’s a “glass ceiling” that blocks the rise of women to the highest levels of management? And if there is, what can we do about it? How can we empower women to shatter the glass?

Consider two statistics:

• 5.8% of CEOs on Fortune’s Global 500 list are women, according to Fortune magazine.
• 39.1% of all US businesses (14 million organizations) are women-owned—a 13.6 percent increase from 2019 to 2023, states a report for the National Women’s Business Council.

These contrasting statistics tell me that women are self-starters, more than confident, and capable enough to launch companies of their own. But when it comes to the corporate world, they have a much harder time climbing the ladder.
 

And it’s not so much a “glass ceiling” as a “broken rung” reveals a new study from McKinsey & Co. and Lean In, the nonprofit started by former Meta Chief Operating Officer Sheryl Sandberg. Their analysis shows that the problem begins much earlier—women fail to get promoted out of lower-level jobs at the same rate as men.

It’s not the result of less ambition either, but simple bias. The survey found 96% of women maintained their career was important to them and 81% sought to be promoted within a year, which matched the aspirations of men. Yet, male employees are often promoted based on their potential while young women are assessed based on their track records, a tougher standard when starting on the career ladder.

The net result: Society for Human Resource Management (SHRM) research shows that 50% of HR professionals describe their organization’s leaders as predominantly men, whereas, only 9% say they’re predominantly women. It’s a huge differential.

While the need for diversity and inclusion in the workplace is widely acknowledged on ethical and moral grounds, there are proven sound business reasons. Another McKinsey study discovered that companies in the top quartile for gender diversity in leadership positions were 25% more likely to have above-average financial results than those in the bottom quartile. And a Harvard Business Review study found that gender-diverse teams are more innovative.

What can be done to empower women to become corporate leaders?

Corporate Pledge

First, institute a company commitment to fair and transparent recruitment and promotion processes and have an openness to promoting women—based on merit. Become of and eliminate so-called “microaggressions”—comments or actions that are subtly demeaning. Women are twice as likely as men, for instance, to be the subject of comments about their emotional state and more likely to have a coworker steal credit for their work. That causes women to adjust the way they behave and are more likely to consider quitting.

Leadership Training

Implement comprehensive training programs for women focused on developing key leadership competencies such as strategic thinking, decision-making, and building and leading teams. Needed skills also include confidence building, trusting one’s own voice, setting and achieving goals, and learning to ask for help.

Mentoring

Pair women who have the potential for higher executive positions with experienced leaders to give them a window into the requirements of the job and guide them through the steps to get there. A supportive mentor (who doesn’t necessarily have to be a female!) can be a major force in helping women thrive and build successful careers.

Networking Opportunities

Facilitate networking opportunities through conferences, seminars, and online platforms, Networking helps women to build valuable relationships, gain industry knowledge, and increase their visibility within the professional community.

Promote Success Stories

Highlight and celebrate the accomplishments of women leaders within the company. Sharing success stories can inspire other women to break down stereotypes about women’s capabilities in leadership roles. When you see what others have achieved and how they did it, it is positive encouragement that you can do it, too, and break through the glass ceiling.

Bias and Inclusion Training

Conduct training sessions on unconscious bias and inclusion to create a supportive environment for women. You may well need to seek the help of expert outside consultants who can bring an independent, objective viewpoint and proven strategies to the table.

Leadership Projects

Give women the opportunity to show what they can do. Assign high-profile projects to them, especially leading cross-functional teams. This hands-on experience is invaluable, allowing women to learn from real-world challenges and demonstrate their capabilities.

Feedback and Coaching

Develop a comprehensive structured feedback and coaching system. Regular, constructive feedback, coupled with professional coaching, can help women identify their strengths and areas for improvement, fostering continuous personal and professional development.

Work-Life Balance

Creating a culture that values work-life balance provides women with the necessary support. You can offer flexibility, hybrid work options, and remote work opportunities to help them flourish in their corporate role while balancing their family commitments. Encourage and maintain a healthy work-life balance. Recognize that personal well-being is crucial for sustained professional success and the company will be rewarded with increased productivity.

Final Thoughts

By focusing on these steps, organizations can create a robust framework for upskilling women for leadership roles. This not only benefits women but also enriches the organization with diverse perspectives, leading to better decision-making and enhanced performance. As the focus on gender diversity and inclusion continues to grow, investing in women’s leadership development becomes increasingly crucial for organizational success and societal progress.

Author Bio

Jason Richmond serves as the CEO and Chief Culture Officer at Ideal Outcomes, Inc.

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