As a manager/leader are you doing all you can to support diversity, equity, and inclusion (DEI) in the workplace?
We know the pay equity and diversity differential still exists. While the gap is slowly closing for some, unfortunately, for many, it is not.
A recent study from McKinsey & Company on representation shows that over the past nine years, women—and especially women of color—have remained underrepresented across the corporate pipeline. However, we see a growing bright spot in senior leadership. Since 2015, the number of women in the C-suite has increased from 17 to 28 percent, and the representation of women at the vice president and senior vice president levels has also improved significantly.
OSHA exposes further disparities within the construction sector, with Black and Asian workers comprising only 6.3% and 2.1% of the workforce, respectively. Despite a comparatively higher representation of Hispanic or Latinx workers, they are notably underrepresented in leadership positions. The gender imbalance is more pronounced than initially apparent, as only 11% of construction workers are female, predominantly occupying sales and administrative positions rather than roles in the trades.
The good news? Many companies are onboard to close the gap of equity in the workplace.
Mckinsey & Company also reported that 60% of companies surveyed have increased their financial and staffing commitments to diversity, equity, and inclusion in the past year. Additionally, almost three out of four HR leaders emphasize the critical importance of DEI for their companies’ future success.
The study also found that companies with strong women’s representation across their pipeline were more likely to have the following DEI best practices in place that can benefit workplace environments across all industries:
About Lakeside HR Group
We are a premier HR Consulting and Recruiting firm connecting people and businesses through personalized, full-service solutions. As a boutique firm of seasoned HR professionals, we specialize in providing customized HR services for small to midsize businesses. With expertise across diverse industries, positions, and states throughout the U.S., we partner with our clients to discover top talent and deliver the support needed to help their businesses thrive.