Coinciding with International Women’s Day today [Saturday], a new McKinsey & Co paper notes that the corporate ladder is missing a rung. For every 100 men who are promoted into management positions, only 87 women advance.
This “broken rung” creates an early career gap that hinders women’s progress and ultimately limits their representation in leadership roles, the report by the analyst group states.
On average, for every ten years that a man is in the workforce, a woman is working for 8.6 years, given that women have the majority of part-time roles, formally work fewer hours, and take more frequent and longer leaves (typically to give birth or take care of children, or to take care of parents or in-laws).
Occupational shifts have been going on for centuries, of course, as new tools and technologies reduce the need for some existing job categories and open space for new ones. But these changes are happening on a bigger and faster scale now, compounded by additional factors, including the impact of the Covid-19 pandemic, demographic changes, and long-term trends in automation and, more recently, gen AI.
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