Glass Ceiling Under Magnifying Lens
The recent presidential debate brought attention to women in the business world. The phrase glass ceiling is often used to describe the unofficial barrier to advancement that women may face in the working world.
In the Business Insider article Companies Really Lose Out When They Don’t Promote Women, author Max Nisen explained “Women are still vastly underrepresented at the top of companies. Only 20 percent of private companies have one or more women in the C-suite and only 6.5 percent have a female CEO.”
This information comes from a new study from Dow Jones Venture Source. The data from this study showed that only “1.3% of privately held companies have a female founder.” The good news was that “a company’s odds for success (versus unsuccess) increase with more female executives at the VP and director levels. For start-ups with five or more females, 61% were successful and only 39% failed.” This data brings forth the question of whether companies could benefit from more female executives.
In the article Women Becoming More Successful than Men, it was noted that women are becoming better educated than men. Women are becoming stronger entrepreneurs as well. Forbes recently reported: “As of 2011, it is estimated that there are over 8.1 million women-owned businesses in the United States. Overall, women-owned firms have done better than their male counterparts over the past 14 years. The number of men-owned firms (which represent 51% of all U.S. firms) grew by only 25% between 1997 and 2011—half the rate of women-owned firms.”
Business News reported that there are cracks in the glass ceiling as women gain boardroom seats. Though few women occupy boardroom seats, “Overall, growth equaled 1 percentage point in the past year among Fortune 1000 companies, but was larger among companies listed between 501 and 1000 by Fortune. Women made up 13.6 percent of board members at those companies, up 1.2 percentage points in the past year.”
The debates may bring more attention to women in the workplace, create more discussion and cause more than just cracks in the ceiling.