Defining success: women, work and leadership
HLB Women Advancement Report 2024This comprehensive report offers global insights into gender parity, diversity, and inclusion within the professional landscape, offering strategies for creating more equitable workplaces and a toolkit for self-advocacy.
Women play a significant role in the workforce, holding C-suite positions, leading research institutions, and shaping the global political agenda. Yet, systemic issues continue to hold back progression.
Globally, women hold only 32% of leadership roles, despite representing 42% of the total workforce. The disparity is even more pronounced across specific regions and industries.
Yet our report shows that companies that prioritise diversity not only succeed financially but also gain strong stakeholder support and retain top talent. Women-led businesses are setting new benchmarks and demonstrating outstanding growth, showcasing their pivotal role in modern success stories.
Achieving work-life balance remains a significant challenge, especially for women, who often juggle professional responsibilities with family care. Flexible work environments, such as remote and hybrid settings, can enhance productivity and reduce stress. However, gender biases and stereotypes continue to hinder women's progress in leadership roles, affecting their confidence and self-esteem.
51% of our survey respondents identify work-life balance as a key obstacle for women’s career advancement.
It's crucial to challenge these assumptions and support diverse talents in the workplace. By fostering inclusive practices and offering flexible arrangements, corporate leaders and HR professionals can create a more equitable and productive environment for all.
Despite equal pay legislation, a significant pay gap persists globally, exacerbated by a lack of transparency. Women often accept lower salaries due to insufficient information, leading to long-term financial disparities.
Additionally, the motherhood penalty continues to impact women's careers, with mothers facing disadvantages in promotion and earning potential. “There are barriers for women still in this day and age, in organisations who pride themselves as being rights-based, women are still being penalised for putting family first." says Yemi Falayajo; Deputy Representative, UN Women Liberia.
Employers must prioritise pay transparency and support for working parents to foster a fair, inclusive workforce. By addressing these issues, we can create stronger employer brands, retain talent, and promote gender equality.
Building a better system of belonging
1 DEIB audit
Go beyond compliance by adopting outcome-driven Diversity, Equity, Inclusion, and Belonging initiatives.
2 Listening strategy
Encourage open communication. Companies that actively listen innovate more effectively and create a stronger sense of belonging.
3 Hiring and succession planning
Redefine job requirements to encourage wider applicant pools and ensure transparent succession planning.
4 Inclusive corporate policies
Develop policies that accommodate diverse employee needs, such as flexible work arrangements and comprehensive parental support.
5 Human-centred leadership
Promote leadership styles that value empathy and inclusivity, empowering all employees to contribute meaningfully.