- Only 30 per Cent of Women Make up S&P 500 Boards in the US, According to Research by Boardex
As the COVID-19 pandemic swept through the US, the country saw the biggest set-back for women’s equality in a generation. Suki Sandhu has called on all companies to ‘stop shelving gender equality and set the precedent’ if we are to resolve this gender inequality crisis.
According to new research released by BoardEx, the number of women that sit on S&P 500 boards has only increased by 11 percent since 2014 with female representation among the S&P 500 leadership teams at just 23 percent. When delving deeper into this year’s S&P 500 list, the number of women in a CEO position only stands at 6 per cent, or 30 women, within the whole S&P 500.
HR Technology News: Latest Coveo Features Deliver Seamless Employee Experience
INvolve Founder and CEO, Suki Sandhu, has worked for over a decade on advising companies on how to improve diversity. When asked about these findings, he commented:
“We can’t help but feel that this is a one-and-done situation. While there have been celebratory reports on the fact that all S&P 500 boards now have at least one woman, this simply isn’t enough.
“As we know, the benefits of a diverse workforce are clear. From a vast range of perspectives through to improved workplace satisfaction, and not forgetting to mention the increased profitability of a business’ bottom line, the need for gender parity within business has never been greater.
“Nevertheless, it appears that because of the pressure of the COVID-19 pandemic, the emphasis placed on gender diversity and closing the gender divide has fallen by the wayside. But at what cost?
“Women’s progression in the workplace has fallen behind by at least a generation and as we can see from the BoardEx research, the development of equality is incredibly slow and is at risk of standing still or worse, regressing. At the current rate of growth, gender parity at board level within US businesses won’t be achieved until 2044 at the earliest and will take even longer at leadership level
“Without ambitious targets in place, the disparity women are facing, and have faced for decades, is likely to become entrenched and our businesses, society and economy will suffer because of it.”
HR Technology News: BenefitMall Names Mark Trivette as CFO
The call for serious change come as today (September 9, 2021), INvolve releases its latest HERoes Women Role Model Lists, a global celebration of women in business who are playing a central role in breaking down gender diversity barriers at work, using their positions to keep diversity and inclusion at the top of the business agenda.
Three American Women are in the Top Ten Executive List. Lisa Osborne Ross, US CEO for Edelman, comes in at number two; Kathy Reardon, Executive Vice President and Chief People Officer for Dollar General Corporation, at number six and Tricia Griffith, President and CEO for The Progressive Corporation, at number eight.
Meanwhile another American woman, Marilyn Lin, Head of MuleSoft Global for Salesforce, also takes top spot in the HERoes Future Leaders List, which highlights those tipped for future leadership success. She is joined by two other women, all of whom have showcased determination to make the workplace a place of equal opportunity. These include Alison Kessler, Product Developer for IHS Markit, and Rhonda Childress, Business Information Security Officer for IBM in support of Kyndryl.
The HERoes Role Model Lists, supported by Yahoo Finance, is one of three sets of role model lists produced annually by INvolve, a consultancy which champions diversity and inclusion in business; the others are focused on LGBTQ+ and People of Color.
The HERoes Women Role Model Lists, supported by Yahoo Finance, showcase business leaders who are championing women in business and driving change to increase gender diversity in the workplace. Representing multiple sectors and industries across the world, those on our HERoes Women Role Model lists have not only achieved success in their own careers but also broken down barriers for those that follow.
All of the 2021 HERoes Women Role Models were nominated by peers and colleagues. They then completed a submission outlining the work they have done for gender equality and inclusion. Submissions were then reviewed by the HERoes judging panel.
Each person was scored on the seniority and influence of their role, their work done internally and externally to champion women, their recent and significant business achievements and the personal statement provided with their nomination. Everyone featured in the list has given their explicit permission to be included.
HR Technology News: Octane AI Honored by Quartz as One of the 2021 Best Companies for Remote Workers