After years of asking corporate directors about the importance of diversity in the boardroom, we’ve got some good news: the vast majority see value in including more women and minorities. Nearly 95% of directors agree that diversity brings unique perspectives to the boardroom, while 84% believe it enhances board performance, according to our 2018 Annual Corporate Directors Survey.
Women of color are a force in the U.S. economy. They are projected to make up the majority of all women by 2060, which means they’ll also likely become the majority of the U.S. workforce. They also generate $1 trillion as consumers and $361 billion in revenue as entrepreneurs, launching companies at 4x the rate of all woman-owned businesses.
The workplace still doesn’t work for women. Issues like the lack of federal paid family leave, flexible work schedules, equal pay and affordable childcare make it harder for women to advance at work. Female business leaders can pave the way for workplace equality for their own employees and inspire corporations of all sizes to do the same.
Landing an executive leadership role at a major company often requires making connections with the right people. Graduate students seeking high-ranking corporate jobs are encouraged to build a network of diverse and influential contacts, and avoid cliques.
That advice often works — for men. After all, the leaders of corporate America are overwhelmingly men: Women make up fewer than 5 percent of Fortune 500 CEOs and fewer than a quarter of Fortune 500 board members.
That women should take on the bulk of domestic responsibilities is still a widespread belief. Married American mothers spend almost twice as much time on housework and child care than do married fathers. Although American mothers—including those with young children—are far more likely to be working now than in past decades, they spend more time on child care today than did moms in the 1960s.
Americans see summer as a carefree time for children, but for working parents, finding summer child care can be a logistical and financial headache. Care is expensive and hard to find, forcing parents to make difficult trade-offs between work and family life.