Women’s Executive Roundtable presentation
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Includes findings from the 2020 Women in the Workplace report, shared during a webinar in October 2020.
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Women’s Executive Roundtable presentation
- 1. Copyright © 2020 McKinsey & Company. All Right Reserved. Women in the Workplace 2020 Welcome Executive Women’s Roundtable
- 2. McKinsey & Company 2 Six years of Women in the Workplace Women in the Workplace is a multi-year joint research effort by McKinsey & Company and LeanIn.org and the largest comprehensive study of the state of women in corporate America This year… Participating companies 317 Employees in participating companies 12 million+ Employees surveyed on their workplace experiences +40,000 In-depth 1-on-1 interviews +45
- 3. McKinsey & Company 3Source: 2020 Women in the Workplace research Optimism that remote work can improve flexibility and diversity… … but big challenges that put at risk the progress earned COVID-19 placed us at a cross roads In 2019 flexibility was the top challenge raised by employees#1 Progress over last 6 years could be erased in one year Potential number of women who could exit the workforce2M+69% Employees say remote work can provide the flexibility they need to have work/life balance 70% Companies agree that remote work will help hire and retain more diverse employees Women who are considering leaving the workforce or downshifting their careers 1 in 4
- 4. McKinsey & Company 4McKinsey & Company 4 COVID-19 surfaced and exacerbated new challenges for employees Since the start of the COVID-19 crisis, the biggest challenges for employees have been: % Employees rating in top 3 challenges Source: 2020 Women in the Workplace research Anxiety over layoffs or furloughs Burnout Mental health Childcare and/or home-schooling Physical/ mental health of loved ones 31% 28% 23% 21% 20%
- 5. McKinsey & Company 5 Companies need to take tactical actions to ensure they can retain their diverse talent Adjust policies to better support employees Reset norms around flexibility Strengthen employee communication Take a close look at performance reviews Take an intersectional approach to address the challenges Black women face Foster a culture that supports and values Black women Make work more sustainable Take steps to minimize gender bias To support Black women:To address core challenges women are facing:
- 6. McKinsey & Company 6 Thank you Read the full report: www.womenintheworkplace.com