Women represent 42 percent of the global workforce but only hold 32 percent of leadership roles — this disparity is even more evident in the United States, where only 13 percent of C-Suite roles at Standard and Poor's Total Market Index firms are women. The HLB Women Advancement Report 2024 explores the root of this disparity and how businesses can build a better system of belonging.
The report notes that the modern financial services sector owes its success to women leaders like Maggie Lena Walker (the first African American woman to establish a bank in the U.S.), Christine Lagarde (former Managing Director of the International Monetary Fund and current president of the European Central Bank) and Maryam Al Suwaidi (CEO of the Securities and Commodities Authority in the United Arab Emirates). To ensure that more talented women enter, thrive and advance in the industry, businesses must embrace practices that institutionalize cultural inclusivity and demonstrate commitment to fair, equitable and just treatment at every level of an organization.
HLB identifies five actionable strategies to enhance the advancement of women:
- Conduct a diversity, equity, inclusive and belonging (DEIB) audit to understand the unique challenges women face within the company and set clear goals to improve these metrics.
- Implement a listening strategy that encourages open communication.
- Redefine hiring and succession planning by simplifying job descriptions and gender-neutral language. Focusing on essential qualifications attracts a more diverse set of candidates and can address impostor syndrome.
- Adopt inclusive corporate policies such as flexible work arrangements and comprehensive parental support to accommodate diverse employee needs.
- Promote human-centered leadership styles that value empathy and inclusivity to ensure diverse voices are valued and supported.
GHJ is proud to embrace diversity, equity, inclusion and accessibility (DEIA). Through initiatives such as its Women’s Empowerment Cohort, GHJ fosters a culture that amplifies underrepresented voices to ensure everyone has the opportunity to succeed, regardless of background.
Click here to read the full report.
