Stay informed and ready to meet both everyday challenges and long-term planning and policy-making goals, with focused news, practical information, and strategic insights on all HR-related developments.
Nov. 24 — Women are held to a higher standard than men in attaining the position of chief executive officer at Fortune 500 companies, according to new research from the American Management Association.
According to “Women Fortune 500 CEOs—Held to Higher Standards,” female CEOs:
• have better academic credentials than their male counterparts;
• typically have more work and life experience when initially appointed; and
• are more likely to have worked their way up the career ladder internally, as opposed to coming from outside the company.
“When you looked at all these factors for female Fortune 500 CEOs versus male CEOs, on almost every dimension the women were always held to a higher standard,” Jeremey Donovan, chief marketing officer for the AMA and author of the study, told Bloomberg BNA Nov. 20.
Moreover, the proportion of women Fortune 500 CEOs is only 4.8 percent while women make up 47.5 percent of the overall labor force, according to the AMA report.
According to Donovan, to help remedy the disparities, employers need to first be aware of the problem, because “at the micro-level you don’t always see it.”
Employers should do audits of their organizations to see if the compensation practices and composition of people at different levels makes sense, he said.
Donovan also recommended that employers implement or improve their employee mentoring programs. “All employees need mentors, and women just as much, so having a program in place can be very beneficial,” he said.
Donovan further advised that companies implement flexible work arrangements to allow women to care for their families while allowing them to progress within the company. Women bear much more of the child care responsibilities, which can be a detriment to their careers, he said, adding, “Taking care of your kids should not be considered shirking work responsibilities.”
To contact the reporter on this story: Genevieve Douglas in Washington at email@example.com
To contact the editor responsible for this story: Simon Nadel at firstname.lastname@example.org
The study is available at http://www.amanet.org/pdf/women-fortune-500-ceos-sample.pdf.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)