I have been a dedicated reader of Business Week for decades. Even as Bloomberg makes it harder and harder for folks like me to do so. (How do they do that? They no longer offer a reasonably priced print subscription to the magazine- one must subscribe to Bloomberg.com, at a MUCH higher annual price.)
But, Business Week offered a most interesting opinion piece by Sarah Green Carmichael, an editor of Bloomberg Opinion. (Her previous stint was the executive editor of Harvard Business Review.) The title? “Managers, stop overlooking women’s potential. Ir was based upon a report produced by McKinsey and LeanIn.org (“Women in the Workplace, 2023)
The data indicate that 48% of new hires are women- but only 28% of thé women have managed to reach the higher executive levels. And, that low participation is true at every level of management.
And, get this, companies allege that it’s because women have lower aspirations, less confidence, or need to take time off to take care of their kids. Yet, the data- like the one produced by MIT (Danielle Ye), Yale (Kelly Shue), and Minnesota (Alan Benson) academics [via the National Bureau of Economic Research, NBER]- demonstrated the opposite. While the retail chain studied claimed women had less leadership potential, the performance reviews of some 30,000 employees demonstrated that the women’s performance exceeded that of the male gender. So, using their bias, they (and most other firms) simply award the men the better jobs.
This tendency has been termed the “prove it again” bias, as coined by Dr. Joan Williams. This means that women and minority folks must have better qualifications and/or more years of experience to overcome the bias of their bosses. That bias also affects what assignments are provided- which further increases the difficulties for women and minority to advance their positions.
And, just this morning¿ the Nobel Prize in Economics was awarded to Dr. Claudia Golden of Harvard University. Her research delves into the gender gap; with women being underrepresented in the labor market- and earn less than men do. That’s despite the fact that women’s educational levels now exceed those for men.
Which is why I am recommending you obtain a copy of “One Bold Move a Day”, written by Shanna Hocking. The book shares hard won advice and insights gleaned from 20 years as a successful manager of large teams. Shanna helps you choose concepts and methods to reach your goals every your personal life. And, the key point- the time to start is now!
Among suggestions in the book is seeking out a mentor, even a personal board of advisors, as well as these suggestions- stop relying on external validation, stop trying to prove yourself, there is no such thing as perfect or a perfect time, celebrate the progress you make each and every day, and practicing gratitude.
I am asking you- my loyal readers- to provide me a short blurb of what you are doing to make yourself better each day, how you are helping to remove the bias against women and minorities in STEM and management, and the like. (Use this form, please.) I will choose among those items submitted between today and the 1rst of November and provide you a copy of Shanna’s book, One Bold Move a Day.
Good luck!
Thank you for bringing up this important topic. Looking at the statistics makes the situation even more unacceptable.
I heard about Claudia Golden’s Nobel Prize win on the radio today. The (male) reporter was like “it’s great that she won the prize, she’s only the third woman to win the Nobel Prize for Economics, and surely the world will listen to her. Now that somebody outlined the flaws in the system, things will change.”
Huh? Naive much? Where has he been? The flaws have been outlined for a really long time!
no one ever decided that reporters were bright, Tamara.
Very interesting information. I think some women may have lower aspirations but many have more. I never could figure out what difference it makes if you are male or female, if you can do the job well, it shouldn’t matter your gender. Also if a woman is getting less pay, isn’t that degrading to them? I never had to go out in the work force, I started my own sewing business when I was 17 years old. I must have done something right because I retired 57 years. Shanna is your daughter, right? Very talented just like her dad.
Thank you, Martha!
Wow, that sounds like an awesome book, I’ll definitely be getting it soon. It’s crazy to me that the gender pay gap still exists, and that women are still under-represented in management. There are still so many things that need to change in our world to make equality a reality!
This has been going on for way too long.one would hope that it would have evanesced by now.
That’s great that you’re doing that, Roy! That book sounds like a good resource, And I’m with you – where’s the level playing field?
You have a great story to tell. Go for it.