Connect with us

Technology

Largest Report on Women in Corporate America Reveals Women’s Progress Is Fragile and Unsustainable

Published

4 days ago

on

2024 Women in the Workplace report shows important gains for women’s representation in senior leadership, but reveals persistent areas of concern that hold women back

SAN FRANCISCO, Sept. 17, 2024 /PRNewswire/ — Today, LeanIn.Org and McKinsey & Company released the 10th annual Women in the Workplace report, the largest and most comprehensive study on the state of women in corporate America and Canada. The report provides detailed analysis of women’s representation and their experiences navigating the corporate ladder over the past decade. This year’s report reveals that over the past 10 years, women have made gains in the workplace, specifically at the top: women today hold 29% of C-suite positions, up from 17% in 2015. Without real commitment from companies, the progress women have made over the last 10 years is not sustainable.

The report is based on data and insights from 1,000 participating companies and more than 480,000 people surveyed on their workplace experiences between 2015 and 2024. This year’s edition, which draws on data collected from over 280 companies, offers insights on the unique barriers faced by women, highlights the actions taken by companies to address these challenges, and identifies where further work remains to be done.

STATE OF WOMEN IN 2024:
Over the past decade, there have been important gains for women at every level of the corporate pipeline, particularly in senior leadership, but that progress is fragile and at risk of declining, especially for women of color. And at the highest level—the C-suite—gains in representation will be nearly impossible to replicate in the years to come. Based on the current rate of progress, we are nearly 50 years away from reaching parity for all women in corporate America.

Women make up 29% of C-suite positions, up from 17% in 2015. Yet, overall, women of color represent 7% of C-suite positions. White men remain the most represented at every level of leadership, while either Black women, Asian women, or Latinas [women of color] are the least represented.Latinas are the most underrepresented group. While they are 9.6% of the population, Latinas are only 1.4% of the C-suite.At the current rate, it will take women of color 48 years—or two generations—to reach parity and white women 22 years.Despite progress made, commitments to gender and racial diversity are declining.

10-YEAR LOOKBACK AT WOMEN’S PROGRESS:
Women still face the same early-career headwinds they did a decade ago and continue to enter the workforce at a disadvantage. Then, at the first critical step up to manager, women are far less likely to get promoted—and this is not improving.

Women continue to experience the “broken rung”—a phenomenon where entry-level men are promoted to manager at much higher rates than women. This causes women to fall behind early in their careers and they never catch up.In 2018, for every 100 men who received the first promotion to manager, 79 women received the same opportunity. Today, that number is 81.It’s even worse for women of color. For every 100 men promoted to manager, just 54 Black women (down to 2020 levels) and 65 Latinas (the lowest since we began this research) get the same opportunity.Black women’s representation drops dramatically—by nearly two-thirds—from entry-level to director.

10-YEAR LOOKBACK AT COMPANY ACTIONS AND MANAGER SUPPORT:
Companies have implemented more practices to make hiring and performance reviews fair. However, there is room for improvement. Only about 1 in 4 companies have adopted the five core practices experts recommend, and the persistence of the broken rung points to the need for companies to take bolder steps. 

Companies are investing fewer resources into women’s advancement—offering fewer mentorship, sponsorship, internship, and recruitment programs geared toward women.

16% offer formal sponsorship programs with specific content for women (down from 24% in 2022); for women of color, it’s 8% (down from 16% in 2022).34% offer recruiting programs and 11% offer internship programs focused on women (down from 48% and 24% in 2022).

Companies have dramatically expanded employee work-life benefits. Almost all companies today provide critical support for employees who are parents, caregivers, or struggling with health challenges. These benefits are especially helpful to women, who are more likely to have caregiving responsibilities.

In 2024, 96% of companies offered maternity leave, 93% offered paternity leave, and 8 in 10 offered benefits for fertility treatments and adoption or surrogacy.Half of companies provide emergency back-up childcare services, up from a third in 2016.More companies also provide illness and loss-related leaves: 34% offer compassionate leave, up from 25% in 2023.

Commitments to gender and racial diversity are declining. Companies should be building on their positive momentum. Given the level of work it will take to do this effectively, companies’ declining commitments to gender and racial diversity are problematic. On top of this, employees’ relatively low and stagnant commitment to diversity points to the importance of both educating and engaging employees.

78% of companies say gender diversity is a high priority (down from 87% in 2019) and 69% say racial diversity is a high priority (down from 77% in 2019).In 2019, 67% of women managers and 57% of men managers said gender diversity is a high priority for them. In 2024, those percentages are 63% and 53%.In 2019, 62% of women managers and 57% of men managers said racial diversity is a high priority. In 2024, those percentages are 58% and 51%.

10-YEAR LOOKBACK AT WOMEN’S EXPERIENCES:
Despite an increase in women’s representation and expanded company efforts, the workplace has not gotten better for women. Women continue to see their gender and race as barriers to advancement, and women today are no more optimistic about how their gender will impact their career advancement: 1 in 4 say their gender will make it harder, and 1 in 3 say it has already contributed to missed opportunities. In fact, this stands out as the area of least progress across the 10 years of this study.

Younger women are the most susceptible to ageism—half of women under 30 say their age has been a barrier to advancing.

Younger women are twice as likely as younger men to cite their age as a source of unwanted attention from co-workers.

Women remain more likely than men to have their competence challenged and undermined at work. Women today are also more likely than men to face comments or interactions that call their competence into question or undermine their leadership.

38% of women, compared to 26% of men, have had their judgment questioned in their area of expertise.LGBTQ+ women and women with disabilities stand out for facing more competence-based microaggressions.

Women are just as likely today to experience interactions with colleagues that make them feel isolated and undervalued at work. This is particularly pronounced for women of color, LGBTQ+ women, and women with disabilities.

28% of LGBTQ+ women feel they can’t talk about themselves or life outside of work (similar to 25% in 2019).23% of Black women, 15% of Latinas, and 16% of Asian women have heard others express surprise at their language skills or other abilities.Women who experience three or more microaggressions are 4.2x more likely to feel burned out, 2.7x more likely to consider leaving their company, and 4.5x more likely to think their gender will make it harder to advance.

The complete report, including solutions that organizations can implement to make meaningful progress toward gender equality, is available at womenintheworkplace.com.

ABOUT THE STUDY
The Women in the Workplace study is conducted in partnership with LeanIn.Org and McKinsey & Company. The first study was released in 2015, and each year it examines current issues facing women in corporate America. This year’s report is based on data and insights from over 280 companies representing more than 10 million people, along with survey responses from over 15,000 employees.

ABOUT LEANIN.ORG
An initiative of the Sandberg Goldberg Bernthal Family Foundation, LeanIn.Org helps women achieve their ambitions and works to create a more equal world. LeanIn.Org conducts original research on the state of women, supports a global community of small peer groups called Lean In Circles, and provides companies with programs to address the biases and barriers women face in the workplace. In addition, Lean In runs Lean In Girls, a leadership program designed to help middle schoolers see themselves as leaders in a world that often tells them they’re not. The Sandberg Goldberg Bernthal Family Foundation is a private operating nonprofit organization under IRS section 501(c)(3).

ABOUT MCKINSEY & COMPANY
McKinsey is a global management consulting firm committed to helping organizations accelerate sustainable and inclusive growth. We work with clients across the private, public, and social sectors to solve complex problems and create positive change for all their stakeholders. We combine bold strategies and transformative technologies to help organizations innovate more sustainably, achieve lasting gains in performance, and build workforces that will thrive for this generation and the next.

MEDIA CONTACT
press@womenintheworkplace.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/largest-report-on-women-in-corporate-america-reveals-womens-progress-is-fragile-and-unsustainable-302249687.html

SOURCE LeanIn.Org

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Keuka College Notifies Individuals of Data Security Incident

Published

57 mins ago

on

September 20, 2024

By

KEUKA PARK, N.Y., Sept. 20, 2024 /PRNewswire/ — Keuka College has learned of a data security incident that may have involved personal information.

On April 25, 2024, the College identified suspicious activity within its network environment and immediately took steps to secure the environment, restore its systems, and began an investigation to determine the nature and scope of the issue. Keuka College also engaged independent cybersecurity specialists to assist with the process. The comprehensive investigation, which concluded on August 21, 2024, could not determine definitively whether personal information related to current and former students and employees was affected.

Keuka College maintains a variety of records which can include: name, Social Security number, Driver’s license number, student id number, financial account information, and date of birth. Current students and employees were contacted by the College in May and provided with one year of free credit and identity monitoring services.

Keuka College has established a toll-free call center to answer questions about the incident and address related concerns. Call center representatives are available Monday through Friday from 9:00 am to 9:00 pm Eastern Time and can be reached at 1-833-913-7557. Please be prepared to provide the engagement number, B131983, for reference.

View original content:https://www.prnewswire.com/news-releases/keuka-college-notifies-individuals-of-data-security-incident-302254623.html

SOURCE Keuka College

Continue Reading

Technology

TeraBox Celebrates 2nd Anniversary of Its Massively Popular Referral Program

Published

57 mins ago

on

September 20, 2024

By

Continuously expanding webmaster signups, especially in multiple regions, along with new highs in webmaster payouts, has ensured the smooth operation and continuous development of the project.

TOKYO, Sept. 21, 2024 /PRNewswire/ — TeraBox (“TeraBox” or “the Company”), a globally trusted cloud storage service headquartered in Tokyo, recently celebrated the second anniversary of its hugely popular Referral Program, a testament to the smooth operation and continuous development of the project. The number of webmaster signups, including in multiple new regions, continued to increase steadily with webmaster payouts reaching new highs.

TeraBox reveals some of its impressive Referral Program data.

TeraBox’s total number of webmasters worldwide reached over one million.The highest daily income of webmasters reached over $10,000, with the top earner making nearly $180,000.The total number of shares by all webmasters exceeds 500 million.

The network of webmasters spans across the globe, including countries such as India, Indonesia, the United States, Latin America, Middle East, and South Korea. Moreover, as TeraBox’s influence continues to grow, the platform is excited to welcome many new webmasters from an expanding range of countries and regions.

TeraBox has achieved significant milestones, demonstrating its sustainable growth and increasing user impact. The journey started with the Webmaster Center launch in August 2022. Following this, several optimizations were implemented, including a self-withdrawal feature that simplified earnings management for webmasters and increased their engagement. Additionally, the Growth Analysis tool provided webmasters with valuable insights into their operational performance, enabling more effective decision-making.

As a result of these enhancements, both the number of participating webmasters and their earnings have seen remarkable increases. Looking ahead, the upcoming launch of the Webmaster App in September 2024 is set to further elevate user engagement and convenience, solidifying TeraBox’s position as an industry leader.

About TeraBox

TeraBox, developed by Flextech Inc. in Japan, is a leading global cloud storage solution. Headquartered in Tokyo, TeraBox proudly serves over 320 million users globally, providing an easy yet powerful way to store and manage data. With its generous 1TB of free storage, TeraBox ensures that your files are safe, secure, and accessible from anywhere. As a secure, reliable, and convenient service, TeraBox is certified with ISO 27001, ISO 27701, and ISO 27018, offering individual users around the world the opportunity to register for 1TB (1024GB) of free storage.

Photo – https://mma.prnewswire.com/media/2510913/image_5016964_39376930.jpg

View original content:https://www.prnewswire.co.uk/news-releases/terabox-celebrates-2nd-anniversary-of-its-massively-popular-referral-program-302254411.html

Continue Reading

Technology

Industrial Rack and Pinion Market to Grow by USD 998.6 Million (2024-2028), AI Redefining Market Landscape Amid Rising Demand for Machine Tools – Technavio

Published

2 hours ago

on

September 20, 2024

By

NEW YORK, Sept. 20, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global industrial rack and pinion market size is estimated to grow by USD 998.6 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 9.45%  during the forecast period. Growth of industrial manufacturing leading to increase in demand for machine tools is driving market growth, with a trend towards increasing demand for stairlifts in offices. However, availability of substitutes for rack and pinion systems  poses a challenge. Key market players include Apex Dynamics Inc., ATLANTA Antriebssysteme GmbH, B and B Manufacturing Inc., Commercial Gear and Sprocket Co. Inc., GAM Enterprises Inc., Gudel Group AG, HMK Automation Group Ltd., Kohara Gear Industry Co. Ltd., Lomar Machine and Tool Co., MIJNO PRECISION GEARING SAS, Nexen Group Inc., Nidec Corp., P R Components Pvt. Ltd., Pearl Engineers, REDEX Group, Reliance Precision Ltd., Sati SpA, Shri Butbhavani Engineering, Statewide Bearings, and Yuan Yi Chang Machinery Co. Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Industrial Rack And Pinion Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 9.45%

Market growth 2024-2028

USD 998.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.41

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 41%

Key countries

China, US, Germany, India, and Canada

Key companies profiled

Apex Dynamics Inc., ATLANTA Antriebssysteme GmbH, B and B Manufacturing Inc., Commercial Gear and Sprocket Co. Inc., GAM Enterprises Inc., Gudel Group AG, HMK Automation Group Ltd., Kohara Gear Industry Co. Ltd., Lomar Machine and Tool Co., MIJNO PRECISION GEARING SAS, Nexen Group Inc., Nidec Corp., P R Components Pvt. Ltd., Pearl Engineers, REDEX Group, Reliance Precision Ltd., Sati SpA, Shri Butbhavani Engineering, Statewide Bearings, and Yuan Yi Chang Machinery Co. Ltd.

Market Driver

The industrial rack and pinion market is experiencing growth due to the increasing demand for stairlifts in commercial and industrial applications. Stairlifts are essential for employees who face difficulties climbing stairs in multi-level industrial facilities. Arthritis, joint stiffness, and injuries are common reasons for this challenge. While elevators are an option, not all industrial buildings have them, especially those with only a few floors above the ground level. Stairlifts offer a cost-effective solution for such facilities, enabling employees to access upper floors with ease. These devices utilize long pieces of straight and curved racks and large pinions, leading to an increased demand for rack and pinion systems in the industrial sector. As a result, the global industrial rack and pinion market is poised for growth during the forecast period. 

The Industrial Rack and Pinion Market is witnessing significant growth due to its extensive applications in various industries. Key sectors driving this market include machine tools, actuators, process industries, material handling, offices, and stairlifts. Rack and pinion systems offer precise rotary and linear motion, making them ideal for machine tools and actuators. In process industries, they are used in drive trains and condition monitoring systems for IoT applications. ZHY Gear, a leading industrial gear manufacturer, specializes in rack and pinion gears for diverse industries. Their zero backlash gearboxes are popular in wind turbine gearboxes, motor technology, and construction equipment. Furthermore, rack and pinion systems are used in power plants, oilfields, and offices for material handling and stairlifts. The integration of IoT technology in these systems enhances efficiency and productivity. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

The industrial rack and pinion market involves the production and sale of linear actuation mechanisms that convert rotary motion into linear motion. Rack and pinion systems are a common choice due to their ability to provide fast movement over long lengths without excessive vibration. However, alternatives such as ball screws and lead screws also exist, each with their unique advantages and disadvantages. Ball screw systems offer smooth and almost friction-free movement but can vibrate at high speeds and longer lengths. In contrast, rack and pinion systems have high friction and a risk of backlash if the pinion does not properly engage with the rack. Ultimately, the choice between these mechanisms depends on the specific requirements of end-users, with some preferring smooth and friction-free systems, while others prioritize high-speed operation. The presence of multiple substitutes and the varying needs of end-users may hinder the growth of the global industrial rack and pinion market during the forecast period.The Industrial Rack and Pinion Market caters to various industries such as power plants, oilfields, machine tools, process industries, material handling, offices, and more. Two primary types of motion – rotary and linear – are served by this market. Key applications include actuators, stairlifts, and industrial gear in wind turbine gearboxes. Challenges in this sector include ensuring zero backlash for precise motion control, integrating IoT and condition monitoring technologies, and catering to diverse industries like motor technology, drive trains, and construction equipment. Notable players in the market include ZHY Gear, addressing the needs of power plants, oilfields, and other sectors with their high-quality rack and pinion solutions.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview

This industrial rack and pinion market report extensively covers market segmentation by

Product 1.1 Machine tools1.2 Linear actuation and guideways1.3 Material handlingType 2.1 Alloy steel2.2 Carbon steel2.3 Stainless steel2.4 Aluminum alloy2.5 PlasticGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America

1.1 Machine tools-  The Industrial Rack and Pinion Market refers to the business sector that produces and sells rack and pinion systems for industrial applications. These systems consist of a rack, which is a flat bar with teeth, and a pinion, which is a gear that meshes with the rack. Rack and pinion systems are used in various industries, including material handling, automotive, and construction, to convert rotary motion into linear motion. The market for these systems is driven by factors such as increasing automation in industries and growing demand for efficient material handling solutions. Companies in this market offer customized solutions to meet specific industry requirements.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Industrial Rack and Pinion Market encompasses various industries including machine tools, actuators, process industries, material handling, stairlifts, offices, and more. Rack and pinion systems are essential components in these industries, providing rotary and linear motion solutions. They are used in machine tools for precise positioning and in actuators for industrial automation. In process industries, they are employed for valve actuation and pump drives. For material handling, they offer zero backlash and high torque for efficient conveyor systems. In the construction industry, rack and pinion systems are used in cranes and hoists. In the realm of renewable energy, they are integral to wind turbine gearboxes. Motor technology and drive trains also utilize rack and pinion systems for efficient power transmission. IoT and condition monitoring systems enhance the performance and reliability of rack and pinion applications. Industrial gear manufacturers like ZHY Gear produce high-quality rack and pinion systems for diverse industries.

Market Research Overview

The Industrial Rack and Pinion Market encompasses various industries and applications, including machine tools, actuators, process industries, material handling, stairlifts, offices, and more. Rack and pinion systems provide rotary and linear motion solutions, essential in industries that require precise and efficient power transmission. These systems are integral to machine tools for accurate positioning and movement. In material handling, they power conveyor belts and other automated systems. Actuators, such as those used in process industries, rely on rack and pinion for precise control and zero backlash. The market also caters to IoT and condition monitoring systems, enhancing industrial gear efficiency and performance. ZHY Gear, a leading manufacturer, offers rack and pinion solutions for diverse applications, from wind turbine gearboxes to motor technology and drive trains. Construction equipment, power plants, oilfields, and various other industries benefit from the reliability of rack and pinion systems.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductMachine ToolsLinear Actuation And GuidewaysMaterial HandlingTypeAlloy SteelCarbon SteelStainless SteelAluminum AlloyPlasticGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/industrial-rack-and-pinion-market-to-grow-by-usd-998-6-million-2024-2028-ai-redefining-market-landscape-amid-rising-demand-for-machine-tools—technavio-302254218.html

SOURCE Technavio

Continue Reading

Trending