Four Reasons Women Still Struggle to Advance to and in the C-Suite

Women’s rights advocate Jay Rosenzweig takes a deeper look at why top firms shirk women when it comes to filling their executive ranks — and what you can do about it. 

Women’s rights and equality have progressed over the last century but there is much work yet to do. Consider that women couldn’t even vote in the United States until 1920 or in Canada until 1918Opens a new window . And up until the post-World War II industrial boom, many women were largely expected to stay at home and in the kitchen. To this day, women still spend more time on household chores even as they’re working longer hours.

While progress has been made, we’re far from a truly just and equitable society. Consider that women with MBAs make just 74 cents for every dollar versus what a male MBA-holder makes. When we look at the c-suite, inequality is even more pronounced. In Canada, out of 532 Named Executive Officers, only 53Opens a new window are women and just three CEOs are women.

Even those women who manage to reach the highest executive levels often find themselves significantly underpaid. A Harvard study found that women executives are paid 27 percent less in Sweden, on average, than their male counterparts. In the US, ExecThread foundOpens a new window that male executives made $30,000 more than their female counterparts.

So why are women being paid so much less? And why do so few make it to the corner office in the first place? Let’s take a look at four reasons why women in high-level leadership positions struggle for equality and fairness.

1. Leaders or Not, Women Often Get Less Credit in the Workplace

A University of Delaware study found that women receive less credit compared to their male counterparts. The study showed that men were given more respect than women even when they said the exact same thing. So while some women may get more respect in the c-suite given their job title, many are still viewed as less credible compared to their male counterparts.

2. Women Leaders Are More Likely to Have Their Authority Questioned

You’d think that having a c-level position would automatically grant people more authority. But women are more likely than men to have their authority questioned and challenged. Consider that a quarter of female S&P 500 CEOs have been targeted by activist investors, compared to just 15 percent overall.

Jan Fields, the former President of McDonald’s USA, found that she advanced most quickly when her performance was measured by profits. Without data in hand, she was often questioned. In spite of her long track record,  in 2012 Fields was blamed for McDonald’s first monthly drop in profits since 2003 and was dismissed. Fields believes she was making the changes needed to ensure the company’s future survival.

3. Socially, the C-Suite Is Also a Boys Club

Another issue Fields encountered was being isolated socially. She was rarely invited out for drinks, golf, or other social activities. Her male counterparts, on the other hand, were frequently out palling around. This isn’t just about hurt feelings either but instead missed opportunities.

I’d argue that it is incumbent on men to keep an eye out for these inequalities and to ensure that women are not left out in these contexts. Men need to step up and play an important role.

Fact is, social networking and bonding are important for building trust and good working relationships. So when women are left back at the office while their male counterparts go out for drinks, they’re missing a chance to strengthen relationships and build social equity.

4. For Women Leaders, Depression is a Real Threat

Turns out, female leaders are more likely to be depressed, and as their authority grows and is continuously challenged, the risk of suffering from depression increases. For men, the opposite is true: increased authority lowers risks of depression.

Having to fight for respect day-in and day-out, and constantly being questioned would leave most people feeling stressed, if not depressed.

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Why We Must Continue to Push For Equality in the C-Suite

Beyond the moral imperative of equality, which is the most important factor, having diversity in leadership ranks makes good business sense.

Writing for the Huffington Post, I noted:

“Males have a very real stake in serving as champions for gender equality and diversity in general. Not only is it the right thing to do, but it is also good business because diversity increases profits as numerous studies show…”

Sound, visionary leadership is vital for maintaining a competitive edge. Yet when women are discriminated against and are passed over for opportunities, many of the best would-be leaders end up left behind. By promoting true equality, we can help the best leaders rise to the top.

For women, a more equal playing field should result in more positions at the top of the corporate hierarchy.

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