The United States ranks last in the world for supportive work-family policies like family leave, career breaks, childcare, and gender and pay equality all of which influence career progression. Companies leading the change by adopting policies that support women and families find they can increase loyalty, engagement, productivity, performance, and create a mutually beneficial relationship for employers and employees. Companies with gender-balanced teams have a higher return on equity than less diverse peers.
In 2020, women make up just under half of the workforce but only hold 25% of senior executive positions, and 5% of positions in S&P 500 companies. The wage gap provides similar statistics, decreasing by only $0.07 since 2015. Women make $0.81 for every dollar a man earns. The gap increases for minority groups, who earn $0.75 for every dollar. As women progress in their career the difference widens to $0.69 to every dollar. Men in STEM positions earn nearly 28% more than women and 39% more than Latina and Black women.
Due to the challenges of the 2020 pandemic, four times as many women as men dropped out of the labor force due to a lack of childcare. On the other hand, analysis of leader assessments between March and June of 2020, showed women in leadership roles were rated more positively than men, and perceived as more effective leaders.
This paper compiles information to bring attention to issues faced by working women, particularly in the Defense industry, and presents successful solutions from around the world including: gender equality in the workplace for management and leadership positions, wage and race gap, and family leave policies. It also addresses how the multiple challenges of 2020 have brought to light the needs of working women and their families and how addressing those can improve workforce performance and personal happiness.