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Tag: gender gap

  • Was the United States ready for a female president? – WTOP News

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    The glass ceiling remains unbroken when it comes to the United States’ highest office. One expert explains to WTOP why that is.

    Listen live to 103.5 FM for WTOP’s team coverage of national and local race results and visit WTOP’s Election 2024 page for comprehensive coverage. Click here for more on Virginia’s election results.

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    Vice President Harris delivers concession speech at Howard

    The glass ceiling remains intact when it comes to the United States’ highest office. Kamala Harris conceded the presidential election and Donald Trump will return to the White House. But data shows most voters see gender as less important to a politician’s standing than other factors.

    In the summer of 2023, the Pew Research Center conducted a survey about women in leadership. At the time, there was not a specific female candidate on the presidential ballot. Biden was running for reelection, and although Nikki Haley was in the race, the conversation was mostly following Trump.

    “We really wanted people to just react to the notion of having a female president and what that means to them,” said Juliana Horowitz, the senior associate director for social trends research at the Pew Research Center.

    They asked voters whether a woman would be better at handling certain policy areas than a male president. For the most part, Americans said they don’t think the gender of the candidate matters.

    “People do tend to say that it’s really not about the candidate’s gender, that it’s more about the different things they stand for,” she said. “We don’t see a lot of evidence in our work that being a woman or that being a man, for that matter, is necessarily what’s driving people’s decisions.”

    Horowitz said 46% of respondents overall said many Americans are not ready to elect a woman to such a high office. Only a quarter of Americans said it’s extremely or very likely they’ll see a female president in their lifetime.

    “One of the things that we found is that most Americans did not think it was important to them, personally, for the United States to elect a woman president in their lifetime,” she said.

    More Election News:

    Early data from the 2024 election does show a gender gap, with women voting primarily for Harris at higher rates than men did. But Horowitz said the gender gap is not wider than what they’ve seen in previous elections.

    ‘Will there ever be a woman president?’

    Imani Cheers is an associate professor of mass communications and media studies at George Washington University in D.C. Cheers said America has always grappled with dichotomies, and the country can be progressive in some ways but traditional in others.

    “America has a racism and a patriarchy problem,” she said. “Will there ever be a woman president? I think so. I’m just not sure when.”

    Harris could not maintain the support in battleground states that President Joe Biden earned in 2020. Cheers said she believes the economy and religious views influenced many female voters to support Trump.

    Harris and other Democrats campaigned on protecting abortion rights following the Supreme Court’s ruling to overturn Roe v. Wade. In Cheers’ opinion, she said it was “incredibly disheartening” to not see backlash to the court’s decision.

    Cheers talked about “moments of joy” on election night, such as Prince George’s County Executive Angela Alsobrooks being elected as Maryland’s first Black senator.

    Cheers said noted the Harris campaign was put together in 100 days, while Trump had campaigned for reelection for years.

    When it comes to electing the next president in 2028, she said, whether it’s a woman or a man elected, remember, “We are currently setting up for ramifications (that are) going to last generations.”

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    © 2024 WTOP. All Rights Reserved. This website is not intended for users located within the European Economic Area.

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    Linh Bui

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  • How Cannabis Use is Changing Across the U.S. – Cannabis Business Executive – Cannabis and Marijuana industry news

    How Cannabis Use is Changing Across the U.S. – Cannabis Business Executive – Cannabis and Marijuana industry news

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    How Cannabis Use is Changing Across the U.S. – Cannabis Business Executive – Cannabis and Marijuana industry news





























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  • 4 Myths About Women in the Workplace, Debunked | Entrepreneur

    4 Myths About Women in the Workplace, Debunked | Entrepreneur

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    The “glass ceiling“(a metaphor used to represent the barrier preventing women from ascending to senior-level leadership) is often referred to as the major hurdle for women in the workplace, but it might not be the whole story.

    In a new report, consulting firm McKinsey & Co. and Lean In, a nonprofit founded by former Meta COO Sheryl Sandberg, have debunked what they say are four “myths” about the state of work for women in 2023, emphasizing that the “broken rung” (a lack of women being promoted early in their careers) is a greater obstacle than the “glass ceiling” for career advancement.

    The report found that gender disparity begins early with fewer women given entry-level promotions, and it continues throughout leadership shifts in an organization, resulting in fewer women being promoted to senior positions.

    From microaggressions to a perceived need for flexible work schedules, the report found several ways in which women are held back in the workforce. To start, in 2023, for every 100 men promoted to entry-level managerial positions, only 87 women made the cut. The number rises to 91 for white women, and 89 for Asian women, but falls significantly to 76 and 54 for Latina and Black women, respectively.

    Related: 6 Ways to Cultivate a Diverse and Equal Workplace

    Here are four debunked “myths” about the state of women in the workplace, according to McKinsey & Co. and Lean In.

    1. The biggest barrier to women’s advancement is the ‘glass ceiling.’

    Reality: The “broken rung,” or the lack of promotion early on in one’s career, is what hinders women’s career growth.

    The “glass ceiling” is often seen as the primary hurdle for women in career advancement. But in reality, the study found, it’s actually the “broken rung” — a barrier that occurs early in one’s career, suggesting that climbing the metaphorical career ladder (for example, going from manager to director), is a far more significant hurdle.

    2. Myth: Women are less ambitious.

    Reality: Women are just as ambitious as men, and more ambitious than ever.

    Women exhibit a similar level of commitment to their professional growth and a comparable desire for career advancement as men, with 81% of both men and women reporting “interest in getting promoted to the next level,” according to the report.

    Furthermore, eight out of ten women express a desire to be promoted to the next level within the year — an increase from seven out of ten in 2019.

    3. Myth: Microaggressions have a ‘micro’ impact.

    Reality: Microaggressions have a wide and lingering impact on women.

    Microaggressions can manifest as subtle verbal or non-verbal behavior or comments, usually based on a person’s race, gender, ethnicity, sexual orientation, or religion, that communicate derogatory or negative messages.

    According to the report, these instances can have a negative and lasting impact on women more than men, making women 4.2 times more likely to “almost always feel burned out,” 3.8 times more likely to “feel they don’t have an equal opportunity to advance,” and 3.3 times more likely to “consider leaving their company.”

    Related: What Do You Do When Your Colleague Is Biased? Try These 5 Phrases to Professionally Call It Out.

    “By leaving microaggressions unchecked, companies miss out on everything women have to offer and risk losing talented employees,” the researchers wrote in the report.

    4. Myth: It’s mostly women who want— and benefit from — flexible work.

    Reality: Both men and women view flexibility as a top employee benefit.

    The majority of employees consider the opportunity to work remotely and have control over their schedules as top-tier company benefits, ranking second only to healthcare, the report found.

    Among those who work remotely, 29% of women and 25% of men highlight that one of the primary advantages is experiencing “fewer unpleasant interactions” with colleagues. However, a larger proportion of women (53%) mention a reduced sense of pressure when it comes to managing their personal style or appearance as compared to men (36%).

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    Madeline Garfinkle

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  • How to Close Your Wage Gap and Open Equity at Work | Entrepreneur

    How to Close Your Wage Gap and Open Equity at Work | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The wage gap might seem like old news, but things aren’t improving. For some populations, the wage gap has even widened since the pandemic.

    Women and people of color were disproportionately impacted by unemployment and more likely to experience an “earnings penalty” when returning to work. According to Payscale’s 2023 State of the Gender Pay Gap Report, women of color in particular experience the widest pay gap. For every dollar white men earn, American Indian women make 72 cents, Hispanic women make 79 cents, and Black women make 80 cents.

    This means that women of color are more likely to occupy lower-paying jobs or be paid less, even if their experience levels are identical. They’re also more likely to face hiring biases and become targets of discrimination, racially driven prejudice and reduced advancement opportunities. Is it any wonder that women have been exiting the workforce so much more than men?

    Pay equity is a key approach in combating how people are treated differently at work. You must first address any wage gaps to progress your diversity, equity and inclusion goals. Without pay equity, DEI goals are unreachable because old systems will limit the people you’re trying to help. That’s why 63% of organizations surveyed by Payscale are planning a pay equity analysis in 2023.

    By identifying and solving unfair salary distribution, your organization will become a more welcoming place with fewer barriers to attracting and retaining diverse talent. Here’s how you can close your wage gap:

    Related: 5 Ways Women Can Fight the Gender Pay Gap (Besides Asking for More Money)

    1. Acknowledge the reality of conscious and unconscious bias

    Even today, a lot of bias exists. This is especially true in recruitment. Many women and people of color are still overlooked for jobs and promotions. Case in point, from the Payscale report: Women are systematically penalized for résumé gaps (a common phenomenon among working mothers). They’re also less likely to get the chance to climb the corporate ladder as they age.

    Any kind of bias will present a roadblock to pay equity. Therefore, talking about bias and pinpointing instances of concern is essential. Listening to your employees is the first step in discovering where biases and inequities exist.

    Give employees a platform to provide anonymous feedback and ask questions to determine if and where they see growth opportunities. What is the company doing to support and uplift employees seeking upward mobility? Does everyone have equal access to those resources? Some biases may not be as clear depending on your position within the company. A good first step is asking the right questions.

    2. Undergo an annual pay equity analysis

    A pay equity audit compares how benefits and salary packages line up with outside industries across similar job roles and expectations. It’s impossible to have any pay equity impact if you don’t know your pay gap numbers. That’s why organizations conducting a yearly pay equity analysis are better positioned to measure and close their pay gaps.

    Unfortunately, only 47% of companies that conduct gender wage gap analyses release information about their performance, according to JUST Capital. Microsoft, for example, recently announced that it added to its pay equity analyses to review pay for women in its five biggest markets outside the United States. The company now reports salary ratios of 1.001 (with 1.00 being perfect parity).

    Remember that wage gaps aren’t just a pay discrimination issue; they’re an inclusive workforce issue. Being transparent about and resolving pay equity concerns enables your company to level out the playing field.

    Related: From Meta to McDonald’s, Here’s How Major Companies are Working to Close the Gender Pay Gap

    3. Encourage pay transparency to close existing pay gaps

    After noting where pay gaps and other barriers exist, you’ll want to address them. Not only does this take an investment of resources, but it also requires dedication. Shifting long-standing workforce cultures can be daunting. However, leaning into your DEI initiatives can help break the workplace biases stemming from long-held beliefs that no longer fit the current climate.

    You can better align yourself with the changing marketplace by encouraging people to talk about their pay. Although salary has long been treated as a taboo subject, being open about salaries can break down pay gaps by exposing pay inequity. It can also make your company more appealing to Gen Z.

    According to Beqom, seven of 10 Gen Zers say pay transparency is important enough to consider switching jobs. It’s nearly impossible for companies to ignore a glaring pay gap if everyone speaks up, which is one of the benefits of pay transparency.

    4. Normalize talking about pay gaps and pay equity

    When interviewing potential candidates, don’t shy away from talking about salary expectations. It’s only fair for candidates to advocate for a salary based on their years of experience, job function, broader market conditions and the regional cost of living. Embracing these early conversations will help you improve pay equity. And if you can’t meet a candidate’s expectations, you can explain why and develop a plan to reach their goal through measurable milestones.

    If you have direct reports, examine their salaries regularly, and alert your HR department if there’s a wage gap. The more motivated you are to be a champion for your team, the more you’ll influence others to follow your lead. Ultimately, you’ll help foster a diverse culture where no one fears retaliation or criticism when discussing wages.

    The wage gap is a real issue today, presenting roadblocks to achieving DEI success. However, if you work to achieve pay equity, you can make your organization a better place for all.

    Related: How to Drive Concrete Change in a World Where Unequal Pay Is Still the Norm

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    Claire Anderson

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  • Goldman Sachs Settles Gender Bias Lawsuit For $215 Million | Entrepreneur

    Goldman Sachs Settles Gender Bias Lawsuit For $215 Million | Entrepreneur

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    In September 2010, three former Goldman Sachs employees filed a lawsuit against the bank, citing gender discrimination against female associates through salary, performance reviews, and promotions. Eight years later, it was granted class-action status, and a trial date was set for June 7, 2023 — nearly 13 years after filing the original complaint.

    Now, the plaintiffs’ longstanding fight is over.

    On Monday, a joint statement between the plaintiffs and the bank announced that Goldman Sachs settled the lawsuit for $215 million. In addition to the settlement, Goldman Sachs agreed to change some of its promotion practices and hire independent experts to conduct pay-equity studies and analysis on how the bank carries out performance reviews.

    “As one of the original plaintiffs, I have been proud to support this case without hesitation over the last nearly thirteen years and believe this settlement will help the women I had in mind when I filed the case,” said Shanna Orlich, in a statement.

    Since the original filing, the lawsuit grew to approximately 2,800 qualifying class members, and the settlement payout will be divided by a third-party administrator who will use an objective formula.

    Related: The Path to Progress: Achieving Gender Parity in the Workplace Starts With Our Mindset

    Qualifying class members are any women who held a position in a revenue-producing role in the bank’s investment banking, investment management, or securities divisions anytime between July 7, 2002, and March 28, 2023, or elsewhere in the U.S. at any time from September 10, 2004, through March 28, 2023.

    “Goldman Sachs is proud of its long record of promoting and advancing women and remains committed to ensuring a diverse and inclusive workplace for all our people,” said Goldman Sachs’ global head of human capital management, Jacqueline Arthur, in a statement. “After more than a decade of vigorous litigation, both parties have agreed to resolve this matter.”

    A hearing date for preliminary settlement approval has yet to be announced.

    Related: Google Pays $118 Million to Settle Gender Discrimination Lawsuit

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    Madeline Garfinkle

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  • Studies Suggest It’s Good Business to Hire Women Over Men. Here’s Why. | Entrepreneur

    Studies Suggest It’s Good Business to Hire Women Over Men. Here’s Why. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Research from cognitive neuroscience and behavioral economics has consistently shown that women are held back from career advancement compared to men.

    A study of managers in 20 Fortune 500 companies discovered that men had a faster career progression and received higher pay than women, despite the fact that women had similar qualifications, worked in the same industries and had consistent work experience.

    Another study of 138 executives, half male and half female, found that women had to work harder to overcome barriers such as exclusion from informal networks and receiving less mentoring than men.

    Additionally, a study of over 1000 MBA graduates revealed that women faced discrimination more often than men, and even when controlling for work experience, women earned less than men.

    It is clear that the “glass ceiling” exists, and women face discrimination that hinders their advancement compared to men, despite having similar qualifications, skills and experience.

    Related: If You Want More Women in Leadership, You Have to Enact Concerted Change. Here’s How.

    However, employing women over men may be the key to success for your business, according to a wealth of scientific research. Studies have shown that teams led by women tend to outperform those led by men and that companies with a higher proportion of women in leadership positions are more profitable.

    One study published in the Harvard Business Review reports that companies with a higher proportion of women in top leadership positions “are more profitable, more socially responsible and provide safer, higher-quality customer experiences.” Focusing deeply on innovation, the study looked at 163 multinational companies over 13 years to determine how these firms’ long-term strategies shifted after women joined their top management teams. They discovered that firms became more open to change and less open to risk and shifted focus from M&A to R&D.

    Other scholarship shows similar results. Research from the 1996 to 1997 National Organizations Survey revealed that firms with more gender diversity tend to have more clients, higher sales revenues and greater profits. Another study found that companies with at least 30% of women on their Board of Directors tend to be more profitable. Furthermore, a third study found that teams with gender balance tend to have better sales and profits compared to teams that are mostly male.

    But why do teams led by women tend to perform better? Research suggests that women may be more effective leaders because they are more likely to foster a positive and inclusive work environment. Studies have found that women are more likely than men to encourage collaboration, share credit, and provide constructive feedback.

    Additionally, women are often more adept at multitasking, which can be a valuable asset in today’s fast-paced business world. Women are also more likely to adopt a long-term perspective, which can be beneficial for a company’s long-term success.

    However, it’s not just about the numbers. It’s also important to ensure that women are given equal opportunities to succeed and are not held back by unconscious bias.

    Related: Women Are Being Pushed Out Of The Workforce, and It’s Time Employers Do Something About It. Here’s How.

    Companies that prioritize diversity and inclusion tend to have a more engaged workforce and a more positive company culture. This can lead to increased productivity and employee satisfaction, as well as a more innovative and adaptable workforce.

    This discrimination is often the result of implicit bias, which refers to unconscious and unwarranted associations and assumptions that we make due to our gut reactions, intuitions and instincts around people we perceive to belong or not belong to our group. These biases can take the form of the halo effect, where we make a too-positive evaluation of other aspects of an individual based on one characteristic we like, or the horns effect, where we downgrade all of another person’s characteristics based on one aspect we dislike.

    To address these biases, it is important to evaluate their consequences and take steps to counteract them. This can include implementing diversity and inclusion programs, training employees on implicit bias and its effects, and actively seeking out and promoting qualified women for leadership positions. Additionally, it is important for both men and women to be aware of their own biases and work to counteract them in their interactions with colleagues and in their decision-making processes.

    Overall, the research is clear that discrimination against women in the workplace is a real problem, and that addressing implicit bias is crucial to promoting gender equality and creating a more inclusive and equitable workplace. By taking proactive steps to counteract these biases, organizations can not only promote gender equality but also reap the benefits of improved performance and increased profitability.

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    Gleb Tsipursky

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  • Sallie Krawcheck: ‘Women are in worse financial shape today than they were in the depths of the pandemic’

    Sallie Krawcheck: ‘Women are in worse financial shape today than they were in the depths of the pandemic’

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    This summer I was at a gathering in the weeks after the Supreme Court decision striking down Roe v Wade. A senior executive from one of the country’s largest corporations was asked about his company’s reproductive rights benefits. As is befitting of his company’s size and stature, he sketched out, with some pride, its top-of-the-line health care benefits. He went on to describe how pleased–and relieved–his senior leadership team was when they confirmed that their health insurance already covered travel for medical procedures. This means that it covers travel from states that restrict reproductive rights to those that provide abortions.

    He was pleased because the travel provisions were in place, yes. He was also pleased because it meant his company did not have to take any action in those immediately post-Roe days. Instead of having to “make a statement,” they could keep their proverbial corporate head down and not risk “becoming part of the story.”

    Crisis averted. Sigh of relief.

    Except maybe not. Because sometimes remaining silent is not a bullet dodged, but rather a cost postponed.

    And the cost, in this case, can be many of the women who work for–or buy from, or invest in–your company.

    Women cannot afford to stay where they do not have support

    Ellevest recently introduced its proprietary Ellevest Women’s Financial Health Index. The index is the first-of-its-kind, quantitative measure of the financial health of women in the U.S. It includes inputs like the gender pay gap, the availability of paid family leave, inflation, and women’s representation in government and corporate leadership. Also included is a measure of reproductive rights, given that they have a fundamental financial impact on women and their families.

    This year, the index has been declining rapidly, in part due to restrictions on reproductive rights for women, as well as the increase in inflation and the tanking of consumer confidence, indicating that the financial health of women in the U.S. has also been heading south. In fact, by the index’s measure, women are in worse financial shape today than they were in the depths of the pandemic.

    We also shared the results of our second annual Ellevest Financial Wellness Survey. It is perhaps not surprising that this survey showed that more than half of women–and more than 60% of millennial and Gen Z women–said that the overturning of Roe v. Wade has had a significant impact on their mental health.

    But make no mistake: They are also making the connection to their pocketbooks. Millennial women rank the restriction of reproductive rights as one of their top five financial worries. For Gen Z women, it featured in second place behind inflation–interestingly, though perhaps not surprisingly, a tie with climate change. And lest you write this off as youthful “wokeness,” climate change was a top-five financial worry for women across all age demographics.

    There are three main takeaways for corporate executives:

    Silence can cost you women employees

    Women report that they want to work at companies whose values align with theirs: Some 44% of women say they would look to leave an employer whose views on reproductive rights do not align with their own. That also goes for 56% of millennial women, 53% of Latinas, and 45% of Black women.

    So how are women reacting to this rapidly shifting landscape? Well, they’re sending their resumes out. That’s right: A full 55% are looking for a new job. And 38% report that they are saving money so they can leave their job.

    This could hurt.

    Silence can also cost you women customers

    But the economic cost of your company’s silence may not stop there. It can hit the revenue line: 59% of women–and two-thirds of younger women–say it’s important for them to invest and spend with companies that stand for reproductive rights. In other words, they may in fact want you to “become part of the story.”

    That could hurt even more.

    Companies are focusing on men’s top financial priority

    A final insight for corporate leaders, from the survey: The Ellevest survey revealed that men’s top financial priority is growing their retirement savings. Fair enough. And here your corporate benefit plans–with their heavy emphasis on 401(k)s–tend to be on target.

    Women’s top financial priority? “Supporting my family.” And understandably so, given that our society expects women to shoulder a disproportionate share of the family care responsibilities. This feels particularly acute, coming out of a pandemic in which women were the social safety net, and given ongoing economic uncertainty.

    Corporate benefits plans are supposed to help… well, not so much. Only 5% of the country’s lowest paid workers, most of whom are women of color, had access to paid parental leave in 2020. And even among the nation’s top 10% of earners, it’s only 36%. Not to mention flexible work policies, child, and family care support, and so on. It’s another version of silence on an issue that matters to every woman–in this case, her primary financial priority.

    So, corporate executives: Just as your women employees and customers may misinterpret your silence, don’t let her current silence lull you.

    Sallie Krawcheck is the CEO and co-founder of Ellevest, the wealthtech company built by women, for women. Previously, she led Merrill Lynch, Smith Barney, and Citi Private as CEO and was CFO of Citi.

    The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.

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    Sallie Krawcheck

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