Making Progress Toward Gender Equality in the Workplace – Morgan Stanley Smith Barney

Women have made significant strides in the workplace, but gender inequality still remains. Since 2015, worldwide management consulting McKinsey and Lean In, a global community dedicated to helping women achieve their ambitions, have been conducting yearly studies to track the progress of women in corporate America. While the representation of women in the workplace has been trending in the right direction, progress has been slow and the COVID-19 pandemic has intensified the challenges that women face. The Women in the Workplace 2021 study showed that representation of women in workplace is increasing, but more needs to be done.
Bridging the gap to achieve gender equality in the workplace will take time. But there are things you can do today to break through the glass ceiling and help level the playing field for women, not just for yourself, but for the women who look up to you and the generations to come.
Advocate for Yourself
Building a career and climbing the corporate ladder is all about mindset and confidence. Whether it’s speaking up in a meeting, suggesting a new idea at work, asking for a promotion, or making a change in your career, don’t be afraid to believe in—and advocate for—yourself. Connecting with a strong social support system will also help boost your confidence.
Champion Women in the Workplace
Employees with women managers are more likely to say their manager has supported them in the workplace.1 Good managers and sponsors take employees under their wing and provide career advice, highlight their work to others, and advocate on their behalf for new opportunities.
So be the woman that champions other women. Open doors. Write letters of recommendation. Hire and promote qualified women. Advocate for women of different backgrounds and experiences. To increase the representation of women at all levels of organizational leadership, sponsorship and mentorship of women is key. And don’t be afraid to ask another woman to be your sponsor or mentor. Speak up, raise your hand, ask for support.
Participate in Employee Networking Groups
Employee Networking Groups (ENGs) are groups of employees who join together in their workplace based on shared characteristics or life experiences. These company-sponsored groups are designed to enhance employee engagement, inform diversity and inclusion efforts across the company, deliver meaningful content, create ways to collaborate and grow through idea-sharing and champion often underrepresented voices. If you want to drive change within your company, joining (or even forming) an ENG is a great start. Talk with your company’s Human Resources team to determine your options.
Encourage Conversations That Matter
Older women have a wealth of experience and information to offer to younger women. Sharing your own career and financial experiences with a daughter, a niece or even another young woman is another way to kickstart progress toward gender equality in the workplace. Your wisdom can help pave the way for the next generation of women in corporate America. Start these conversations that matter.
Article by Morgan Stanley and provided courtesy of Morgan Stanley Financial Advisor.
Brian Jacobs is a Executive Director, Wealth Advisor in Valencia, CA at Morgan Stanley Smith Barney LLC (“Morgan Stanley”). He can be reached by email at brian.jacobs@morganstanley.com or by telephone at (661)290-2022.