Women in Power: Clearing Pathways for Women to Rise to Positions of Organizational Leadership

Abstract

This article analyzes various initiatives seeking to provide opportunities for women to join the ranks of those in positions of power and the likely benefits beyond those to the individuals involved. It also offers a way forward for firms interested in attaining gender equity in leadership. We begin with a discussion of various legislative initiatives seeking to increase the representation of women on boards followed by initiatives of a stock exchange, institutional investors, proxy advisory firms, private companies, as well as individuals. Next, we address the benefits for women in the workforce from an increase of women in positions of power in government and consider the uneven effects of the pandemic on women in the workforce. We then analyze mentoring as a means toward fostering equality in the workplace and provide a number of business success stories. We conclude with a potential roadmap for organizations to provide pathways for women to rise to positions of leadership.

Keywords: women in leadership, gender equality; women on boards

JEL Classification: K22, K31