The Women in the Workplace Report

The ninth year of the Women in the Workplace report, (n=27,000) conducted in partnership by McKinsey and LeanIn.Org, is the largest study of executive women across corporate America and Canada. 

The 2023 research reveals some new wins at the top, with women’s representation in the C-suite at the most elevated it has ever been. However, with poor progress in the middle of the pipeline—and a continued underrepresentation of women of color—genuine equality remains glaringly out of reach.

The key takeaway presented in the report is that the pipeline for women is not full, and is almost three-quarters empty at the C-Suite.

A growing bright light since 2015 is the number of women in the C-suite, which has increased from 17% to 28%. In addition, there has been significantly improved representation of women at the vice president and senior vice president levels.

Significant improvement does not equal parity.

McKinsey calls this the ‘broken rung” of career advancement, to clearly differentiate it from the glass ceiling. In 2023, 48% of women were in entry-level roles, but only 40% had manager titles, 37% had senior manager/director titles, 33% had VP titles and 28% had senior VP titles.  

The report suggests the following for all industries to change the status quo:

  1. Create metrics to improve women’s experience and progression.

  2. Prioritize and reward managers as the fundamental drivers of organizational change.

  3. Publicize that micro-aggressions and disrespectful behavior of any kind will not be tolerated.

  4. Define clear expectations and standards around working flexibly.

  5. Fix the broken rung for women, focus on career development for all women in general, and women of color in particular.

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Footnotes

1 - Women in the Workplace Report, McKinsey & Company (05 October 2023)