Corporate America risks rolling back progress' for women, says new report

"Large US companies have made progress albeit slowly over the past decade when it comes to increasing the number of women in management and leadership roles on every rung of the corporate ladder. But reported changes in company priorities this year coupled with employees' reported experiences suggest those modest but steady gains may be at risk. That's one takeaway from the latest annual report on the state of women at work from consulting firm McKinsey & Company and Lean In, a women-at-work advocacy group."

"For instance, for the first time, the researchers asked companies about their commitment to women's career advancement. A small majority (54%) said they placed a high priority on it, and less than a majority (46%) said the same for the advancement of women of color. Another 21%, meanwhile, said they give little to no priority to advancing women. In addition, companies' stated commitment to the broader idea of gender diversity has been declining since it hit a high of 88% in 2017."

"The report also notes that some companies said they have scaled back programs like remote work, formal sponsorship and targeted career development, all of which have proven beneficial to women. In a year when corporate America is rolling back their commitment to women's careers and women saying they're feeling it, it feels like we're at risk of backsliding after a decade of hard-earned, measurable progress, said Rachel Thomas, cofounder and CEO of Lean In."

Large US companies achieved modest increases in women's representation across management and leadership over the past decade, but recent shifts in company priorities and employee experiences threaten those gains. Company commitment to advancing women and women of color is declining: 54% of companies place high priority on women's career advancement, 46% on women of color, while 21% give little to no priority. Stated commitment to gender diversity has fallen since a 2017 high of 88%. Several companies have scaled back remote work, formal sponsorship, and targeted career development programs. Analysis uses 2024 talent-pipeline data from 124 companies, roughly 3 million employees, plus CHRO surveys and interviews.

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