New Report by Korn Ferry & The Conference Board: Majority of HR Executives Say Gender Parity in Company Leadership is Signifi...
March 06 2019 - 8:00AM
Business Wire
-- Inequity Dramatically Increases at Higher
Levels in an Organization --
-- Nearly Half Believe Women are Not Gaining
Necessary Experiences to Help them Advance --
-- New Report Outlines Actions to Increase
Female Leader Representation --
As International Women’s Day approaches (March 8), a new study
by Korn Ferry (NYSE: KFY) and The Conference Board shows that,
while there has been some progress in advancing women in business,
there is still significant work that needs to be done to move
toward gender parity.
Researchers surveyed nearly 300 human resource executives as
part of the study, Effective Leadership Development Strategies at
Pivotal Points for Women: Chief Human Resources Officers and Senior
HR Leaders Speak*. While 62 percent of respondents believe
representation of women in leadership positions has improved during
the last five years, 66 percent believe that there still is an
inadequate representation of women in leadership positions in their
organization today.
Inadequate Female Representation Increases at Higher
Levels
According to the survey and other bodies of research, gender
inequity is significantly higher at top levels within
organizations. While nearly half of individual contributors are
women, that percentage dwindles to little more than a fifth at the
senior vice president and c-suite levels.
The study found a high level of dissatisfaction with female
representation in leadership roles, with 66 percent of respondents
saying the number of women at the vice president level at their own
organization was inadequate, and 65 percent agreeing that there was
not enough female representation in the c-suite.
Pivotal Points to Building a Robust Pipeline
Half of respondents believe there are not enough women in the
pipeline to fill open leadership positions. In addition, 40 percent
do not believe women are gaining the experiences necessary to help
them advance.
The authors of the study believe incremental actions will not be
enough to close the gap, and that leaders must disrupt the status
quo, take a strong position, and focus on programs that drive
greater outcomes.
“The obstacles a woman faces exist across the entire lifecycle –
from hiring to promotion and throughout development,” said Beatrice
Grech-Cumbo, Korn Ferry leader of Advancing Women Worldwide and
senior client partner. “In the study, we identified two pivotal
points where women’s representation drops significantly: first-line
leaders and senior leaders. While organizations are focusing on
increasing the representation of women in senior leadership, it is
equally important to work to place women in first-line manager
roles. This point in the pipeline significantly impacts the
promotion pool of female talent.”
“HR and business executives need to take a step back to better
understand and address the systemic reasons behind the gender
imbalance,” said Rebecca L. Ray, Ph.D., executive vice president of
Human Capital at The Conference Board. “Reasons include pay
inequity, hiring manager bias and accountability, a lack of
sponsors and champions, as well as the lack of programmatic support
for the integration of work and life.”
The report by Korn Ferry and The Conference Board also
identifies key steps that are necessary to help women advance at
all levels of the organization, including:
- Challenging women early in their
careers
- Redesigning talent management systems
to mitigate bias and disrupt historical practices
- Creating an intentionally inclusive
climate
- Providing differentiated development
opportunities and experiences
- Developing a sponsorship program aimed
at women advancement opportunities
- Offering stretch assignments and
personalized leadership experiences
The report also includes case studies of organizations that have
enacted effective female development initiatives.
*Editors Note: A full copy of the new report can be obtained by
emailing Joe DiBlasi at Joseph.Diblasi@conference-board.org or
Tracy Kurschner at Tracy.Kurschner@kornferry.com.
About the Survey
The Korn Ferry and Conference Board survey of 291 senior HR
professionals, 74 percent of whom are women, took place in late
2018.
About Korn Ferry
Korn Ferry is a global organizational consulting firm. We help
clients synchronize strategy and talent to drive superior
performance. We work with organizations to design their structures,
roles, and responsibilities. We help them hire the right people to
bring their strategy to life. And we advise them on how to reward,
develop, and motivate their people.
About The Conference Board
The Conference Board is the member-driven think tank that
delivers trusted insights for what’s ahead. Founded in 1916, we are
a non-partisan, not-for-profit entity holding 501 (c) (3)
tax-exempt status in the United
States. www.conference-board.org
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version on businesswire.com: https://www.businesswire.com/news/home/20190306005123/en/
Media contacts:Tracy
KurschnerTracy.kurschner@kornferry.com612.309.3957
Joe DiBlasiJoseph.diblasi@conference-board.org781.308.7935
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