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A new McKinsey survey shows that as the workplace gender gap remains wide, women are more willing to quit their jobs for a better experience.
The eighth annual Women in the Workplace 2022 report does show progress when it comes to women in higher positions, but roadblocks remain in the way of true equality.
Coined as “The Great Breakup,” the report highlights why the gap between men and women in leadership roles continues to grow, and what companies can do to ensure they are retaining their talent.
“For every 100 men who are promoted from entry-level roles to manager positions, only 87 women are promoted, and only 82 women of color are promoted,” the report states.
“As a result, men significantly outnumber women at the manager level, and women can never catch up. There are simply too few women to promote to senior leadership positions.”
Despite the incremental growth of women in executive roles, the path to get there is often long and windy, leading many to eventually quit their jobs in search for a culture that willingly opens doors.
Among these challenges includes disproportionately high cases of microaggressions and discrimination in the workplace. Women are often undermined when in positions of power, leading many to hit snags as they climb up the ladder.
The report also shows that 43% of women leaders experience burnout compared to 31% of men in the same level, indicating that women are often left to carry some of the biggest burdens of the workplace.
Another driver of quit rates among women leaders is simply the will to search for a better environment. Women are more likely to seek work at companies that honor flexibility, DEI efforts and well-being.
“In face of a weak recovery, government and business must make two sets of efforts: targeted policies to support women’s return to the workforce and women’s talent development in the industries of the future,” said Saadia Zahidi, managing director at the World Economic Forum.
“Otherwise, we risk eroding the gains of the last decades permanently and losing out on the future economic returns of diversity.”
