New report reveals glacial gender progress and offers actionable steps for advancing women in leadership
As companies reduce their inclusion initiatives and women's leadership advancement stalls, WXN (the Women's Executive Network) and its Global Alliance for Inclusive Leadership (GAIL) partners have released ‘The GAIL Report: An Actionable Guide to Advance Women in the Workplace.’
This comprehensive report urges organizations to prioritise inclusion and offers evidence-based strategies to maximise the advantages of diversity.
The report examines a growing body of research showing how diversity enhances company performance, profitability, and culture. It provides practical steps for companies of all sizes to implement these findings effectively.
The findings in the report underscore the challenging state of gender equity in workplaces today. Achieving full gender parity remains 95 years away in North America and 131 years globally.
While women hold just over one-third of board seats in Canada’s largest companies, racialised women occupy only 4.1 percent of these roles. Representation for Black women is even lower, at 1.2 percent. Women also account for just one in ten Canadian CEOs and one in four executives.
The report highlights the benefits of inclusion across several critical areas. Boards with at least 30 percent women outperform those with either all-male representation or token female roles.
Companies with female CEOs see a 20 percent boost in stock price momentum, while those with female CFOs achieve a six percent increase in profitability.
However, recent layoffs have disproportionately targeted diversity, equity, and inclusion (DEI) roles at nearly twice the rate of other positions, intensifying what the report calls ‘DEI burnout.’
Women, who already bear much of the effort to address gender disparities, face mounting challenges as male allies hold significant opportunities to help advance women into leadership roles.
Employee resource groups (ERGs) emerge as powerful tools for fostering skill development, enhancing reputations, and driving market growth.
However, poorly executed ERGs can result in substantial setbacks. Diverse teams, the report explains, create a competitive edge by improving retention rates, increasing employee engagement, and fostering innovation.
Companies that fail to address inclusivity challenges risk alienating Gen Z talent, which remains critical for advancing technology and innovation.
According to Sherri Stevens, Owner, and CEO of WXN, “This is a critical moment of reckoning for companies across North America and the world.”
She noted that women’s progress remains “glacial at best,” with parity on boards still a decade away and over a century needed to achieve global gender parity.
Stevens cautioned that delays in addressing these disparities will result in prolonged and increased challenges for organizations.
She further emphasised, “The GAIL Report underscores that, when women rise into leadership roles, they drive broader success for both profit and people.”
