Dive Brief:
- The outlook for women in the C-suite continues to be less than stellar, according to 50-50 Women on Board’s data analysis. A Q2 analysis shows that women hold 29.2% of Russell 3000 board seats, down from 30.1% a year earlier.
- The previous 50-50 Women on Boards report with Equilar stated that Q1 last year, women’s representation on Russell 3000 boards was at 30.4% before dipping to 29.9% in Q1 this year. And while most of the women’s recently gained board seats were new spots, only 13.8% of newly appointed women were replacing men on boards.
- These findings build on a previous joint report from the firm and Equilar, which indicated back in May that women’s representation on the boards of Russell 3000 companies is slipping. The firm’s CEO suggested this trend should be a wake-up call in the world of work.
Dive Insight:
As the annual decline continues, Heather Spilsbury, CEO of 50/50 Women on Boards, sounded the alarm. “This research is a call to action,” Spilsbury said in a statement Tuesday. “Merit is the standard; access is the issue.”
She added that her company’s role as an advocate would be to connect decision-makers with “exceptional talent” and strengthen succession practices. HR professionals can similarly fill in the gaps by giving women at work the tools to succeed — something that 1 in 3 women said they were missing in a report released last year.
Just 36% of women surveyed by HiBob said they feel empowered to perform at their best at work and only 28% said they feel their employer actively supports them. HiBob also highlighted that mentorship opportunities were lacking for women more so than men, according to survey data.
People professionals and managers may be watching women fall through the cracks at work in real time; a report from LeanIn.org and McKinsey & Co. predicted that as diversity and inclusion commitments diminish, corporate America could lose all of the progress it made for women.