More than three out of four new male company directors are rookies, appointed without any prior corporate board experience, according to a new study of the world’s biggest publicly traded companies.
The March jobs report, released Friday by the Bureau of Labor Statistics, didn’t paint an optimistic picture for the economy under the Trump administration. Overall unemployment dropped to 4.5 percent, but as the New York Times reports, economists had anticipated 180,000 new jobs to be created last month. In reality, only 98,000 new jobs were added — and only 9,000 of those jobs went to women, according to Elle.
Globally the number of females represented on financial services boards continues to grow, but a stagnancy at the executive level is disenfranchising millennials as they get to grips with a workplace stuck in its gendered past. Oliver Wyman’s 2016 Women in financial services report revealed that financial services will not reach 30% female executive committee representation until 2048. Millennial women are facing the same problems as their counterparts in the 1980s and 1990s, just without expecting to. This leads to a ‘culture shock’ as they realise traditional gender roles continue to exist in the workplace.
More and more studies are being released that reveal the challenges women face in the office, compared to men, extend well beyond pay differences. “Explicit gender bias has largely disappeared from the workplace due to tougher legislation and increased focus on diversity issues. However, challenges still remain; ones that take a different shape and form from those encountered by prior generations of women.”
Dr. Telle Whitney, President and CEO of the Anita Borg Institute, describes the challenges and opportunities for increasing women in tech, from pipelines to org culture.
In a sector that prides itself on being full of the best and brightest problem-solvers, how do we tackle the persistent problem of the gender gap in tech? STEM scholarships, one solution among many, begin to address these issues directly by providing key monetary resources, offering a sense of community among the recipients and sidestepping closed networks that limit access to mentorship and support for young women.
The gender gap in development assistance persists despite a substantial body of evidence confirming that investment in women yields high returns on poverty eradication, economic growth, and food security. Foreign Affairs explores how development leaders could meet broad international goals by elevating advancement for women and girls as a global priority.
Working Mother reports that 25 American companies have been honored as the best companies for multicultural women work in terms of hiring, retention, networking, mentoring and promotion. The bad news is that only 4 percent of corporate executives at these companies are multicultural women – the same rate as in 2009.
Efforts to diversify America’s corporate boards with more minorities and women are still lagging.