McKinsey’s research has repeatedly demonstrated the business value of diversity on management teams, yet progress remains slow.
There are several myths about why, such as that women are less ambitious in men. McKinsey research shows that women are in fact as ambitious: three out of four women want to make it to senior leadership.
Another common theme in the discussion on diversity is that women need to break through a glass ceiling. The facts instead paint a picture of a “broken rung” throughout women’s careers. For every one hundred men that are promoted, only eighty-seven women are promoted.
Lastly, there is a belief that flexibility is something that only women need and desire, while in fact it is a top three factor for both men and women.
McKinsey’s advice to business leaders is to track the outcomes of the organization’s female representation, progression, and experience; to build strong leaders who know how to lead diversity, equity and inclusion; to fine-tune flexible working models for the benefit of both men and women; and to fix the broken rung once and for all.