Gender Diversity in Executive-Level Management
It is not unusual to learn about women, especially women of colour, underrepresented in C-suite positions. The women within this group have long faced barriers in corporate environments due to implicit bias, deliberate discrimination and a lack of or ineffective diversity initiatives in management.
C-suite refers to the highest-ranking managers within an organisation. The letter “C” represents the word “chief” in several corporate titles. Persons in these roles are responsible for leading a company and its respective departments. Company efforts towards more women occupying C-suite positions have effected unnoticeable change. The number of women leading Fortune 500 companies is at an all-time high of 41 women chief executives, but these women comprise only 8.2% of the cohort’s Chief Executive Officer (CEO) total.
Inequalities in the class system are rooted in the allocation of rewards assigned to different positions in the social system and the recruitment process. Women suffer disadvantages in several and various aspects of social life such as employment opportunities, salary and property ownership. This results from the allocation of social and economic rewards still predominantly determined and received by men.
Apart from the largest companies globally, the situation is much dire. A Young Presidents’ Organisation (YPO) Global Gender Equality Survey for 2021 revealed that 47% of female chief executives at organisations with revenue between $10 million – $1 billion stated that cultural expectations for their gender were a barrier compared to fewer than 2% of men. Another study by McKinsey and Leanin.org conducted months before the COVID-19 outbreak estimated that women comprised 21% of all C-suite positions, and only 4% of these C-suite executives were women of colour. Yet, research in The Harvard Business Review notes that companies with more women in senior or board positions may be more profitable and socially responsible.
Despite research that confirms a positive correlation between women present in corporate leadership and organisational performance, gender equality in business leadership is persistently unachievable in corporate South Africa, especially when women constitute 51% of almost 60 million South Africans. Approximately 68% of senior management positions are men, with 20.7% of board members on Johannesburg Stock Exchange (JSE)-listed companies being women.
Black women still occupy most low-grade positions in South Africa, and the least salary pay is also reserved for them. This reality is one that should not be accepted, nor is it sustainable. For gender equality and pay parity to become effective in South Africa and worldwide, men should institute such changes as beneficiaries of centuries of patriarchy.
The COVID-19 pandemic has undoubtedly incited significant change in the world of work, also revealing what should be done towards gender equality. It has highlighted that women are as capable leaders as men – evidenced through the efficient response and management of the pandemic crisis in countries led by women. Importantly, we should reimagine women, at each level, as capable leaders.
Professional Sourcing specialises in executive placements within the African continent. Get in touch to find out more about current C-suite vacancies.
Professional Sourcing can assist with the recruitment process during and after the pandemic. Our team has a strong reputation for recruitment expertise within our specialisation areas. Visit prosourcing.co.za for more info.
Professional Sourcing can assist with the recruitment process during and after the pandemic. Our team has a strong reputation for recruitment expertise within our specialisation areas.
Professional Sourcing can assist with the recruitment process during and after the pandemic. Our team has a strong reputation for recruitment expertise within our specialisation areas. Visit prosourcing.co.za for more info.
Professional Sourcing has a strong reputation for highly developed recruitment expertise within our specialisation areas. We develop strong long-term relationships with our loyal clients. Allow us to help you deal with your frustrations of a lengthy hiring process.
Professional Sourcing is a top-tier South African-based recruitment agency operating internationally, IPM accredited, LEVEL 2 BEE RATED and 51% Black Owned.