Women have been stepping up in leadership roles, despite the fact that they have been disproportionately economically impacted by the pandemic, losing an estimated $800 billion globally in financial earnings.
The McKinsey report goes on to show that women in leadership positions have also been more active in promoting DEI initiatives. Female managers are 6% more likely to engage in informal DEI work and Senior Leaders who are women are 10% more likely to spend a substantial amount of time engaged in these efforts. When looking at Black and LGBTQ+ women those numbers double.
The pandemic has provided ample opportunities for empathetic leaders to demonstrate their ability to care for their employees well beings., Global GAMMA CTO, Managing Director and Partner at Boston ConsulG said, “I’ve been trying to find ways to virtually mimic those ‘water cooler’ conversations with zoom meetings that have no agenda or fun virtual events.
Unfortunately, a lot of the very important emotional labor being exerted by women leaders is going formally unnoticed in evaluations and performance reviews. Their DEI efforts are often considered to be outside the scope of their work, despite the positive benefits they have on employee satisfaction and performance; and they are still promoted at far lower rates than men with representation dropping off significantly for women of color.
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