London-based consumer goods based company Unilever announced significant achievements they have made towards reaching gender parity among their global managers. According to their announcement on March 3, 2020, women now make up 50 percent of management globally at their company. This figure has increased 12 percent since ten years ago, when women made up 38 percent off management.
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A study produced in a collaboration between Crunchbase, Him For Her, and Kellogg School of Management on gender diversity in 200 of the most heavily funded U.S.-based private venture-backed companies reveals 60 percent of companies do not have a single woman on their boards and 7 percent of board seats are held by women. The study intends to bring attention to women’s representation in boardrooms of private companies to encourage a concerted effort to hire diverse board members.
The Wall Street Journal reports that women now hold one out of every five seats on the corporate boards of America’s 3,000 largest publicly-traded companies. This increase of women’s representation on corporate boards increased from 15 percent in 2016 to 20 percent this year, according to data from Equilar.
According to a recent report by IBM titled “Women Leadership, and the Priority Paradox,” a significant share of organizations are not making the increased inclusion of women in leadership roles a top business priority. Among the 2,300 organizations that were surveyed worldwide, only 18 percent had women in top leadership positions, including the C-suite, vice presidents, directors and senior managers. This finding is in stark contrast to a new wave of advocacy for gender-diverse leadership and a common understanding that diverse leadership leads to better financial performance.
McKinsey & Company and LeanIn.Org have recently released their Women in the Workplace 2018 report, one of the “largest comprehensive study of women in corporate America” since 2015, according to its website. The report showcases insights from data shared by 279 companies employing more than 13 million people and survey results from over 64,000 employees. While companies claim their commitment to improving gender diversity, progress in making it a reality has been wanting in the last four years. Read on for main takeaways and incredible statistics on women professionals in the corporate world.
California Governor Jerry Brown signed the SB 826 “Women on Corporate Boards” bill this past weekend, a landmark legislation requiring female representation on corporate boards. Specifically, SB 826 requires that at least one woman be on the board of publicly held companies in California by year end 2019. Despite concerns over its potential efficacy, the bill is an important step in diversity and inclusion, as well as for the advancement of women.
Chika Kako was recently promoted to second-in-command in Toyota’s luxury Lexus division. This vertical move makes her the only woman among the automaker’s 53 top managers, which she achieved by climbing Toyota’s corporate ladder for the last 30 years. To Kako, her success is due to her individuality, not her gender.