Progress of Women: Unlocking the Full Potential of Women in the U.S. Economy

[Part II] Excerpted from the 2011 report by Joanna Barsh and Lareina Yee

McKinsey and Co

Women’s leadership might be the key to unlocking progress in the U.S. economy.  Bringing more women into the workforce and finding ways to keep ambitious, well-qualified women moving up the management ranks could boost the U.S. economy 3-4 percent, the study says. Currently, only 76 percent of American women aged 25-54 are in the workforce, as compared to 87 percent in Sweden.  Also, only 50 percent of college-educated workers in the U.S. are women, even though 58 percent of all 2010 undergraduate degrees in the U.S. were awarded to women.

Overcoming these issues and plugging the leaks in the talent pipeline should be a top priority, the study says, and companies should focus particularly on the transition from mid-level manager to senior management, typically the vice president role.  If companies could raise the number of middle management women who make it to the next level by 25 percent, it would help companies in time to rebalance their executive committees, which in turn would increase the likelihood of sustaining gender diversity at every level to the very top.

McKinsey’s research shows that 70 percent of organizational transformation efforts fail. However, the efforts that succeed have strong leadership from the top and a comprehensive plan to shift mindsets and behaviors.  Getting people to think and act differently is one of the most difficult management challenges, but it can be done:

• Start with a compelling story for change—the “business case”—and communicate it broadly, emphasizing the successes that reinforce the desired mindset shifts
• Refine the organization processes and other formal mechanisms that can encourage compliance to change—in particular the metrics and reporting used to track performance and reinforce accountability
• Build the capabilities that enable the desired behaviors. For example, both men and women can learn how to be more effective sponsors
• Leaders—all the way down to the front line—must model the change. Changing only the mindsets of the Executive Committee and other senior leaders misses the most important influencers of sustained change—employees’ direct supervisors

Read the complete report here: Unlocking the Full Potential of Women in the U.S. Economy

Seven young journalism students at the University of Washington, acknowledging the fact that they faced challenges in their careers unequal to men, banded together to share knowledge and promote the progress of women in communications. Theta Sigma Phi evolved under many names, but more than a century later, the need to address inequities in our profession and as women remains a core value.

The Progress of Women Committee of Women Communicators of Austin keeps the spotlight on inequalities in our profession, acknowledges progress of equality, and shares information to further that progress.