International Women’s Day
For International Women’s Day, prepare to see a lot of hashtags and statements around #EmbraceEquity and how gender equity is a must for the future. But when you look at what companies are actually doing, it can tell a different story. Actions can reveal strategy better than any slogan or tweet.
International Women’s Day (IWD) is a global day celebrating the achievements of women – whether it be social, economic, cultural, or political.
But it also marks a call to action for accelerating gender parity and is a chance not only to celebrate, but also educate and raise awareness, call for positive change, and lobby for gender parity.
Gender equity is one of the most significant metrics we address at SocialMarks.
Let’s look at the data. According to SocialMarks:
- Of Dow Jones Index companies, 70% of companies have less than 50% females in the company and 47% of the DJI have less than 40% females in the company.
- Within the DJI, just 17% of companies have more than 40% of women in their upper pay quartile (>75 percentile).
There is also clear disparity between sectors. The Communications Sector is one of our strongest performers for gender at SocialMarks.
On average in the Communications Sector, there are…
- 39% women overall in a company.
- 25% women in the upper pay quartile (>75 percentile).
- 31% women in senior management.
Comparatively, on average in the Technology Sector, there are just…
- 28% women overall in a company.
- 14% women in the upper pay quartile (>75 percentile).
- 14% women in senior management.
These figures highlight a clear discrepancy in the gender breakdown within sectors. And it shows that historically male-dominated sectors, like tech, still have a long way to go.
More positively, let’s look at the best-in-class gender focused programs in the SocialMarks analysis. In the Communications Sector, Cisco Systems has some fantastic programs which support the professional development of women. For example, the DARE program addresses the professional needs of early-in-career women at Cisco by providing exercises, activities, and tools to help women articulate their value to the business, build a community of support, and empower each other to create bold career visions. Participants of the program were 1.2 times more likely to be promoted. Their JUMP program is for midlevel women to close the gender gap in leadership and develop and retain talent. JUMP participants are 1.4 times more likely than nonparticipants to get promoted.
So, on International Women’s Day, this is our call for positive change. We recognise that there is urgent work to do – and that starts now.
SocialMarks can be part of the solution as we can help you to identify areas where training, programs and policies can make the biggest impact in gender parity and equity. SocialMarks can help you identify where the biggest gaps are in your gender parity data and help you to address these.