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Fewer Women Winning Jobs in Executive Suites
A new study released Wednesday, shows that as the economy began to slow, so did the advancement of women. In Florida, women made no significant gains in winning top corporate jobs and even lost board director positions over the past two years. The 2008 Census by Women Executive Leadership mirrors a national trend that reveals women gained little ground advancing as business leaders.
A new study released Wednesday, shows that as the economy began to slow, so did the advancement of women. (Miami Herald graphic) ''It's clear we have a long way to go,'' said Sherry Barrat, executive vice president for Northern Trust Corp. and president of personal financial services.
Indeed, men hold more than 92 percent of the board seats in the top 150 Florida public companies. That's even a higher proportion than they held the last time that WEL compiled data, in 2006. Mergers, consolidations and bankruptcies changed the corporate landscape, diminishing some of the large Florida public companies that had women as directors such as Claire's Stores, Jacuzzi Brands and Mayor's Jewelers.
''The 2008 results were not what we we hoping,'' said Cindy Kushner, chairman of Women Executive Leadership, an advocacy group. ``We would like to ask that Florida companies take time for reflection. Given that the majority of consumers are women, is your board representative of your customers?''
Amid the country's economic woes, women's advancement in corporate leadership is at a critical stage.
If the recession continues, women are poised to surpass men on the nation's payrolls, taking the majority for the first time in American history, according to new unemployment data. This is because most large-scale layoffs have been in male-dominated industries.
Unfortunately, the jobs women have -- and are supporting their families with -- are more of the low-paying jobs without benefits and a grand leap away from the corner office.
Many of my role models, women that reached the executive suite in Florida's public companies, no longer hold those positions. In WEL's 2004 Census, women held 67 executive positions at Florida top public companies. In it's 2008 Census, they held 49.
Downsized businesswomen will choose whether to pursue executive jobs that become available, join smaller firms or become entrepreneurs.
''The numbers are disappointing, there's no question about that,'' says Yvonne Jackson, a board member of Winn-Dixie ``I'm 60 years old this year and when I came along, you kept going regardless of obstacles. The next generation behind me, they've got options.''
Businesses will make choices, too. Despite the efforts of women's organizations such as WEL, 93 percent of executive jobs in Florida are held by men.
''I feel like it's a time for companies to think about what didn't work,'' says Jan Combopiano, vice president of Catalyst, a national women's organization. Now is the time to focus on talent and not rely on the old boys network, she says.
Going forward, women's advancement should be about the bottom line. There's a growing body of research that shows having female board members and top executives boosts financial performance.
''We've seen the rewards in my own company,'' Barrat of Northern Trust says. ``We have a diverse workforce, women in executive mangement and a high performance culture.''
If there's a bright spot in WEL's 2008 Census, it's the research that shows more women are advancing into the executive offices by holding the position of chief financial officer.
Evelyn D'An, a board member of two Florida public companies, sees hope. ``Those are women who can chair the audit committee and bring value to a board.''
Looking into the future, Evelyn Follit, a board member of Winn-Dixie, says smart businesses will not only advance women into the executive suite, they will support them.
Hopefully, by the next census, as the economy recovers, there will be more women in corporate leadership roles.

7 Comments so far
Show AllNo decent human being dedicates their life to climbing the corporate ladder. It's a waste of potential, throwing one's life away on status-seeking and money-grubbing. Rather than worrying about how many women climb the ladder, we should get rid of the insane economy that fosters ladder-climbing in the first place.
I agree. Women (and men) should be focused on improving the wages and working conditions of all working people, instead of the executives who do the least work, by the way!
My own observations over the past ten years in the small city I live in, has been the decline of women in several areas of the business world. Even the medical clinic that I go to has become like a good old boys club. There's plenty of women there, but in the lower positions. There's only one or two female doctors left. I've noticed that even our city council and county commissioners are predominantly male. I may be paranoid, but I think it's all a part of the rise of the religious right and the push to put women "back in their place."
I can understand the trend in Florida - I'd be interested in learning whether or not the other conservative majority states are following the trend, and if it's true in the liberal majority states as well.
It's pretty clear at this point that the balance of men and women in the corporate world should be about the same as the gender balance of the prison system (which it pretty much is). What should be researched is why are men so much more likely to be conscienceless, sociopaths, and megalomaniacs?
Aloha, salud, lechiem,
- Tobias
http://www.youtube.com/user/tobiasaurusrex
And even fewer minority women.
There'll be plenty of room at the top when they cap the wages! Women, minorities, non-english speakers, no problem. By the time the Titanic sank, anybody could have been the captain. C E O will mean Complete Economic Opposite and start out a ten dollars an hour. The golden parachutes will be drifting to warmer climates where Kings and Queens are still appreciated.
Absolutely. Not to dismiss gender inequity, which needs to be addressed as part of any economic justice package.
But why would a sane society think any one person needed even twice as much as any other person? Why not cap top executive compensation at twice entry-level pay?
What do people really think is being "incentivized" by blessing "executive compensation" at one hundred, two hundred, five hundred times entry-level pay?
Our culture is insane.