Reposted from McKinsey Insights:
Uncomfortable conversations are often necessary to identify the pragmatic actions that can improve a company’s odds of developing women leaders. The good news is that the rewards – a stronger workforce that fully taps the available talent across the economy – are well worth it. The power to change and to keep moving forward lies in our hands.
The challenges are well known: women in business continue to face a formidable gender gap for senior-leadership positions. Moreover, there are fewer and fewer women at each step along the path to the C-suite, although they represent a majority of entry-level employees at Fortune 500 companies and outnumber men in college-graduation rates. Increasingly, the barriers too are well known: a mix of cultural factors, ingrained mind-sets, and stubborn forms of behavior, including a tendency to tap a much narrower band of women leaders than is possible given the available talent pool.
Much has been written about the nature of the challenges. I want to focus on what companies can do to take action. In this article, I’ve distilled some forward-leaning practices into five questions that can serve as a fitness test for your top team. In my experience, an organization that is making progress on such issues tends to explore them in concert. At the very least, these questions can help generate the kinds of challenging conversations that executive teams around the world should be having. The stakes are too high not to have them. As I heard the CEO of a US healthcare company say recently, “The business case is simple: my company needs the best talent. Why would I handicap that by 50 percent?”