- Data Reveals One in Four C-suite Positions
are Held by Women -
A new Korn Ferry (NYSE:KFY) analysis of the top 1,000 U.S.
companies by revenue finds the percentage of women in key C-suite
positions has risen slightly in the last year, but is still
dramatically lower than that of their male counterparts. The study,
conducted in early 2019, examines the percentage of women by title
and by industry.
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The analysis found that across the most prominent C-suite titles
(CEO, CFO, CIO/CTO, CMO, CHRO) and several industries (consumer,
energy, financial, healthcare, industrial, retail, technology and
services) an average of one quarter (25 percent) of the top leaders
are women. That is up slightly from a year ago, when 23 percent of
leaders in the studied C-suite positions were women. While there
were increases in the percentage of women in CFO, CIO/CTO and CMO
roles, the percentage of women in the CEO and CHRO roles remained
constant.
CEO (Chief Executive Officer)
The study found that across all C-suite positions, the most
senior post is held by the smallest percentage of women, with only
6 percent serving as CEO. This percentage is the same as last
year.
The highest percentage of female CEOs is in the retail industry
(12 percent), followed by the consumer industry (8 percent). The
industry with the lowest percentage of women CEOs is healthcare at
1 percent. (This excludes some healthcare providers and hospital
systems, which are often non-profit organizations that may not
publicly disclose financial information).
“In a recent Korn Ferry study, we interviewed dozens of current
and former female CEOs, and the majority of them said they hadn’t
even considered vying for the top spot until they had a sponsor
tell them they were well-suited for the role,” said Jane Stevenson,
Global Leader of Korn Ferry’s CEO Succession Services. “It’s
critical that both talented women and those around them focus on
creating a clear path for advancement.”
CFO (Chief Financial Officer)
Twelve percent of CFOs across industries are women, which is up
from 11 percent last year. The industry with the most female CFOs
is retail at 19 percent, followed by consumer at 14 percent. Those
industries tied for having the fewest female CFOs are financial and
healthcare at 8 percent.
“While the percentage of women CFOs is growing only slightly, we
see some progress is being made,” said Bryan Proctor, Korn
Ferry Global Financial Officer Practice Leader. “Increasingly
companies consider diversity an absolute requirement
when considering CFO succession options.”
CIO/CTO (Chief Information Officer/Chief Technology
Officer)
The percentage of women who hold the CIO/CTO role rose from 16
percent last year to 18 percent this year. The industry with the
highest percentage of women CIOs/CTOs is financial at 25 percent,
and the lowest is in services at 7 percent.
“We are seeing a greater percentage of impressive and capable
women who are choosing to grow their careers in the technology
field,” said Craig Stephenson, Korn Ferry Managing
Director, North America CIO/CTO Practice. “Our research indicates
women CIOs/CTOs rank just as competitively as their male
counterparts on key competencies, and we believe it is important to
establish explicit and unbiased methodologies in how technology
leaders are assessed by both competency and experience.”
CMO (Chief Marketing Officer)
The CMO role saw the biggest percentage increase of all C-suite
roles, rising to 36 percent from last year’s 32 percent. The
financial industry has the highest percentage of female CMOs at 53
percent (up from 45 percent last year) and energy has the lowest at
20 percent.
“To be successful leading the ongoing, customer driven
transformation that is now part of most CMO’s
mandate, marketing leaders need to excel at many leadership
capabilities that female leaders often possess. These include
inspiring across organizational silos, building and engaging
teams and holding them accountable, and putting the customer at the
center,” said Caren Fleit, Managing Director, Global
Marketing Officers Practice. “So it stands to reason that
the leadership capabilities that differentiate female CMOs would
position them well to be successful in this pivotal role.”
CHRO (Chief Human Resources Officer)
The CHRO role is the only C-suite role where there is gender
parity, with 55 percent of CHROs across industries being women,
which is the same as last year. The industry with the largest
percentage of women CHROs is financial (65 percent) and the
industry with the lowest is retail at 49 percent.
“In recent years the CHRO role has been increasingly tied to
business success as leaders understand that talent, when properly
motivated and deployed, can be a significant lever for
differentiation,” said Dan Kaplan, Korn Ferry Senior Client Partner
in the CHRO Practice. “Woman CHROs bring several competencies to
the table, including collaboration, agility, empathy and an ability
to coach and influence that are critical to successfully optimizing
the leadership of an organization.”
The Mix by Industry
When considering the percentage of C-suite women by industry,
the financial sector comes in the highest at 31 percent, followed
by the healthcare industry at 26 percent and retail at 25 percent.
The consumer sector has 24 percent of women in the C-suite and 23
percent of C-suite members in the industrial, technology and energy
industries are women. The services industry comes in last at 21
percent.
“In every industry we analyzed, there’s a tremendous need for
improvement to bring more women to the C-suite,” said Stevenson.
“This is a joint responsibility of the women to seek out
experiences and development that can help them lead and succeed,
and for organizations to create an environment where women feel
empowered to progress in their careers at all levels.”
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.
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Tracy Kurschner612.309.3957Tracy.Kurschner@kornferry.com
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