How A Group Of CEOs Plans To Solve Gender Inequality At Their Companies

Technology may be pushing the rate of change ever faster, but so far, no app or bot has been able to accelerate the pace of parity for women in leadership. According to the most recent report by and McKinsey, women account for only 20% of staff at the senior vice president level and 20% of line roles that lead to the C-suite. This is based on the report's survey of 132 companies that employ more than 4.6 million people. This is a problem because line roles are often a direct pipeline to the C-suite. In 2015, 90% of new CEOs in the S&P 500 were promoted or hired from line roles. Overall, this has translated to having only 27 female CEOs at the helm of major public companies, according to the latest S&P Capital IQ. No wonder Facebook COO Sheryl Sandberg lamented, "If NASA launched a person into space today, she could soar past Mars, travel all the way to Pluto, and return to Earth 10 times before women occupy half of C-suite offices."

Frustrated by the incremental gains, a group of female business leaders got together in June 2015 to see if they could find a way to speed up women’s progress. The result of brainstorming with a larger group of male and female CEOs, executives, board chairpersons, and academics is a newly launched coalition called Paradigm for Parity (P4P).

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