A report has highlighted a drop in the corporate world's commitment to allocating women into leadership positions.
This year's Women in the Workplace report from LeanIn.org and McKinsey & Company is the 10th annual report to be released.
It found that although there have been positive advancements — such as a 12% rise in women taking on C-suite positions — progress around entry level (48%) and manager (39%) positions has become stagnant.
Because of the low level of women present in these lower-ranked positions, sustained progress to leadership becomes almost impossible, owing to their overall underrepresentation in the industry.
The report estimates that, at the current rate of progress, it will take 50 years to reach parity for all women in corporate America.
Another concerning factor was the decline of business commitment to diversity.
In 2024, only around 78% of companies said that gender diversity was a high priority on their team, which reduced from 87% in 2019.
Only 37% of companies offer formal mentorship programmes for women in their team, which has reduced from 2022's figure of 48%.
The report authors note: “The next phase of change will require even more tenacity, creativity and optimism—and that starts with rekindling the commitment to diversity and fairness that got us to this point. For senior leaders, it means continuing to champion the important
work and challenging yourself and your organisation to do better.”
To try to combat such problems, the report names a number of steps that should be taken, including:
- De-bias the hiring and promotion process
- Inspire and equip employees to curb bias
- Unlock the power of managers to influence careers
The Women in the Workplace 2024 report includes a resource of core practices companies can utilise to develop an inclusive, equal workplace.
The President of Women in Nutraceuticals, Heather Granato, believes that this report is critical for companies looking to explore their commitment to gender equality: "Within the nutraceutical industry, we talk about the importance of health and wellness, inclusion and innovation,"
“One of the greatest drivers of innovation is gender equality throughout an organisation, and particularly in leadership. WIN is committed to collaborating with individuals and organisations to develop tools and programs that will drive positive change in the nutraceutical industry.”
In 2023, WIN published its Gender Representation in Nutraceutical Industry Leadership Survey, which found that 37% of senior leadership roles and 28% of CEO positions in the nutraceutical industry are held by women.
When comparing this to the 2024 Women in the Workplace statistics for the pharmaceutical industry, which reports 41% female vice presidents, 35% senior vice presidents, and 29% C-suite, it appears the nutraceutical space is on par with a similar industry.