BOSTON – There are more women in work than ever before, but a recent report shows they still face barriers to progress.
The 10-year report from McKinsey and Company revealed some surprising findings, most notably that falling behind early has consequences for a woman’s career.
“Ageism affects everyone, men and women, but young women disproportionately,” said Lucy Perez, senior partner at McKinsey. “What we’ve found over the years is that the first promotion from an entry-level role to your first management position is often the most challenging, and we see many women don’t make it.”
Women in the C-suite
This is what is called ‘The Broken Rung’. For every 100 men promoted, only 81 women get the same opportunity. For Latinas it is 65, and only 54 for black women. By the time they reach executive levels, women make up just 29% of the C-suite.
“There is an enormous amount of value lost when we don’t fully utilize the talent available in our organizations,” says Susan MacKenty Brady. She is part of the 29% as CEO of the Simmons University Institute for Inclusive Leadership. MacKenty Brady uses the data to help women and organizations redress inequality.
Early career promotions for women
“The power of early promotion is where we need to recover, and where we need to create more resources and more opportunities for women,” she said.
MacKenty Brady said organizations need to do their part, but there are resources for women to take control of their own organizations, such as mentorship, staff groups and external programs.
“We also have programming here at Simmons University,” says MacKenty Brady. “We have our Strategic Leadership Accelerator program, which is for early-career professionals who want to accelerate their own advancement.”
She said now is the time for all women to take action.
“It is crucial. It’s critical. What changes me, changes us,” she told WBZ.
Simmons will host its annual Leadership Conference on March 20.
Chris Tanaka
