Women at the top, not!
Many of Fortune’s Most Powerful Women — a group we’ve tracked since 1998 – contend that corporate America will have parity at the top someday.
No way, I say. It’s not that the glass ceiling won’t shatter. Indeed, this year’s MPWomen list, released two months ago, has more Fortune 500 company CEOs in the top tier than ever. But as I’ve overseen the MPWomen franchise over the past decade, I’ve gotten to know these top women leaders. And I’ve learned that they’re a rare breed, unlike most corporate women on the way up.
The gist of women and power: Most women view power horizontally: power is about influence more than about rank. Women also tend to view their lives in chapters. So many drop out early to do other things. Look at Meg Whitman retiring from eBay (EBAY) at 51 and now considering politics — a run for California governor, perhaps?
So it’s not terribly surprising that Catalyst’s just-released study on Fortune 500 corporate officers reveals that only 15.7% are women. This is scant progress, since 15.4% were female in 2007. But there is one place where women practically rule: Edison International (EIX), the California-based utility, where fully half of the 14 most senior corporate officers are women. Next on Catalyst’s 2008 list: Dollar General, now privately held by KKR, and Kraft Foods (KFT), Northeast Utilities (NU) and Reynolds American (RAI).
A few other companies on Catalyst’s list happen to be represented on Fortune’s Most Powerful Women list: Both Western Union (WU), led by CEO Christina Gold, and Avon (AVP), where Andrea Jung is chief, have women holding at least one-third of the most senior officer positions. As does Johnson & Johnson (JNJ), where Sheri McCoy is the rising star to watch. In October, she got promoted to worldwide chairman of J&J’s $25 billion pharmaceuticals group and may be a contender for CEO someday.
Which Fortune 500 companies have no women in their top officer ranks? Catalyst lists Apple (AAPL), Dell (DELL), McGraw-Hill (MHP), TRW (TRW), Whirlpool (WHR), and Winn-Dixie Stores (WINN), among 69 others. As my colleague Jessica Shambora noted on Postcards on Wednesday, how can retailers and other consumer companies thrive without women executives contributing? Apple seems to have no trouble with all guys in charge. Steve Jobs did, though, add a woman, Avon chief Andrea Jung, to his board in January. Smart guy.
There is quite a bit of emerging research that suggests that women experience a different life cycle than men, and that this knocks them out of contention for many top slots in what are still hierarchically structured organizations. For instance, if the consideration for becoming CEO slams shut at age 50, a lot of bright, talented women who just happen to have teens at home or aging parents won’t even be considered, when just 5 or 10 years later that same individual couuld be a dynamo. Another great bit of research is on not so much the glass ceiling, but the ‘labyrnth’ that women have to go through any twist and turn of which can knock them off track.
Women must learn that top positions are not “given” to them, but “taken” from the competition. If you want to be treated like a man, start acting like one.
One thing that will certainly help along with gaining true equity in the workplace is to get rid of the notion that housework and childcare are “women’s work,” and that the woman is expected to opt out if a couple chooses to start a family. Men are just as capable of maintaining a home and raising children as women are. If both partners contribute equally, it is possible to maintain a work/life balance. If it is decided that one parent should stay home and the wife happens to be the higher-earning spouse with the highest potential, it stands to reason that the husband should be the one to make that sacrifice. It’s not the 50s anymore, so women leaving the workplace to be housewives and the notion that those who choose not to do that are selfish should no longer be the defaults.
The man is just as responsible for his home and family as the woman, and it’s about time that became a meme. It’s time to do away with the antiquated ideas that an ambitious man who chooses to follow a career is considered a “go-getter,” and that a woman who does the same thing is a bad person.
It is not by chance that our country is loosing the competitive advantage. The entrance of women in our workforce was “the reason” for our gain in competitive advantage. But in recent years, many countries have surpassed us and have placed women in top position even as country presidents. If we do not stop having a double standard in the work place and if we continue to treat women in an unfair manner causing them to disengage in male dominated companies, we will suffer the consequences of our poor vision and loose our competitive advantage forever.
And the worst part?
Consider this. CIO Magazine released its 2008 ‘Hall of Fame’;
http://www.cio.com/cio-awards/cio-hall-of-fame/index
Out of 12 inductees – 4 are women.
If out of so few women in top posts, and a full 1/3rd in hall of fame status.
Do the math.
Obviously businesses are not doing that math
Elliot Ross
The lack of women in senior positions is a OPPORTUNITY problem. They are not given opportunity as men are to move up. This is very CLEAR when you look at the companies that you mentioned in the article that have women. At those companies they were given opportunities and they have made VERY well. They can do at anytime, if they are given the same opportunities than men. Like Edison, since it pays less that other companies, less men are interested and women have OPPORTUNITY there. In other consumer product companies, women are given opportunities that are more similar to those given to men in all situations, and they do very well. There is no different breed of women, there is only LACK of OPPORTUNITY for women. And by the way, the women that get out of corporations do not do it for personal reasons. This is just an excuse. THEY DO IT BECAUSE THEY GET TOO DISAPPOINTED WITH THE LACK OF EQUAL OPPORTUNITY AND THE DOUBLE STANDARDS THAT THEY FACE EVERY DAY IN MALE DOMINATED COMPANIES. Get REAL!!!!
Co-founder and creative director of Tory Burch LLC
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A woman’s job to to earn as much money as possible to take good care of her man.