Despite progress in improving gender diversity, significant challenges remain across both the UK and U.S. corporate landscapes. In the UK, women now hold 40% of board positions in FTSE 100 companies, while in the U.S., women occupy around 30% of board seats in S&P 500 firms. However, much of this progress has been concentrated in Non-Executive Roles. In both regions, women’s representation in top executive positions, such as CEO and CFO, continues to lag. As of 2023, only 25% of executive committee members in FTSE 250 companies and 10% in large U.S. companies are women. These figures fall far short of gender parity, reflecting the broader issue of slow progress in advancing women to the highest levels of executive leadership despite numerous diversity initiatives.
Typically, many of the problems lie within middle management, with women struggling to overcome the hurdles preventing them from reaching senior leadership roles. The root of the problem is not simple — it’s tangled in explicit and implicit bias, with dated approaches to hiring, succession planning, and leadership development hindering women’s ability to advance further.
At this stage in their careers, many women continue to temporarily leave the workforce to raise their children, which remains a significant factor contributing to the gender pay gap. According to the 2024 McKinsey & Company Women in the Workplace Report, women are still more likely than men to take on caregiving responsibilities, leading to career interruptions. Upon their return, working mothers face ongoing challenges in securing flexible working arrangements that accommodate family commitments, addressing gaps in their CVs, and continuing their career progression from where they left off. Research in the U.S shows that mothers earn approximately 74 cents for every dollar that fathers make, and according to the IFS in the UK, by the time their first child celebrates their 20th birthday, mothers have, on average, been in paid work for three years less than fathers, highlighting the long-term impact of caregiving on women’s earnings.
The truth is and has always been that the responsibility to drive change lies with those with the power and influence to reset systems. Gender equality cannot be achieved in a vacuum, and as those at the helm of businesses are still predominantly men, allies have an incredibly important role to play. However, women remain active drivers of change in achieving gender parity, speaking up rather than staying quiet and urging businesses to move beyond setting targets and commit to real, actionable change.
Building bridges for communication
Without considering women’s lived experiences and specific challenges, businesses’ efforts to foster a more inclusive workplace often fall flat. For example, a review of employee benefits packages can easily turn into a box-ticking exercise. Offering extended maternity leave, generous maternity pay, and a flexible working policy may be seen as the obvious way to ‘support’ women in the workplace, but it’s not enough on its own – not least because it assumes that all women want to, or are able to, have children of their own. These benefits may boost engagement and retention but don’t aid women’s long-term career progression.
Recognizing imbalances and starting open, honest conversations is the first step in breaking down visible and invisible barriers in the workplace. Women need a forum to discuss their needs and wants freely, which is often easier in an all-women environment such as a dedicated inclusion network. However, the lack of diversity in business is everyone’s problem, not just a problem to be solved by women, meaning men need to contribute to the debate and work together with women to enact real change. To do so, women’s voices must be heard by key decision-makers within a business, and an ongoing conversation around progression for women must be established.
Leveraging the impact of role models
It’s critical that women role models are visible at all levels of a business, providing inspiration, guidance, and reassurance. This can go a long way to prove that seemingly unattainable goals really are within reach. Role models, particularly those in senior leadership positions, can amplify the voices of other women, elevating concerns and challenging perspectives in the executive team and boardroom. Here, there’s an opportunity to advocate for making women more visible in key meetings, training sessions, and panel events, where the attention can – and should – be turned to lesser-heard voices and different perspectives.
However, role models needn’t only be positioned within the highest ranks. Line managers, colleagues, and former co-workers can all be role models and advocates for each other, empowering other women to speak up when in positions where they feel capable of taking on more responsibility, offering opinions, or leading a project. In essence, they can push others outside their comfort zones, overcoming self-limiting beliefs and “Imposter Syndrome” – experienced by 63% of executive women.
Fostering a culture that encourages sponsorship
Numerous studies have shown that women tend to be more self-deprecating than men and, therefore, more likely to highlight areas where they lack skills. A well-cited report revealed that men will usually apply for a job when they meet only 60% of the requirements, but women will apply only if they meet 100% of them.
Sponsors, whether formal or informal, can help women champion their abilities, build their self-esteem, and identify pathways for progression, regardless of what stage of their career they’re at. An ideal sponsor leverages their influence and platform to advocate for promotions, pay rises, new projects, and opportunities for high-potential employees within the business. Internally, sponsorship programs are also an excellent way of nurturing women and strengthening the company’s talent pipeline of future leaders.
Gender doesn’t define anyone’s abilities or talents, but it shapes their workplace experience. To challenge and change this, we must build momentum by empowering women to continue opposing gender bias, positioning role models and mentors at all levels of our organizations, and actively removing the obstacles preventing advancement.