Left to right: Minnesota Census of Women in Corporate Leadership co-authors Joann Bangs and Rebecca Hawthorne. Photo by Rebecca Zenefski '10, By Rebecca LLC
The 2016 Minnesota Census of Women in Corporate Leadership
Now in its ninth year, the shows the most significant growth in the number and percentages of women on corporate boards and in the executive offices in its history.
The ÍćĹĽ˝ă˝ă report is produced by research from the Master of Arts in Organizational Leadership (MAOL) program and co-authored by Joann Bangs, dean of the School of Business and Professional Studies, and Rebecca Hawthorne, MAOL program director.
According to the study, available today as a special insert in the April issue of Twin Cities Business magazine, the percentage of women on the boards of Minnesota’s 85 largest public companies rose to 19 percent from 15.5 percent in 2015.
Companies in the Minnesota Census had revenues ranging from less than $1 million to $157 billion and there were 709 available board seats in 2016.
In addition, the total number of companies in the Minnesota Census that have women directors increased to 71 — five more companies than 2015 — despite a decrease in the number of companies in the 2016 sample and a decrease in total available board seats.
Women in senior executive leadership roles — defined in the Census as “Section 16b officers” – rose a half percent to 19.9 percent in this year’s study. However that increase was due to a reduction in the number of companies in the 2016 Census.
“Although I am heartened by this year's Minnesota Census percentages, I encourage Minnesota companies to take a stand toward gender parity in the workplace and aim for 30% women leaders across their organizations by 2030 — not just in their board rooms and senior leadership teams,” said co-author Hawthorne. “The provides a road map for companies to accomplish this through research-based, measurable, corporate actions.”
Women of color remain on the sidelines
While significant advances in gender parity were made, women of color – the most under represented group in corporate leadership – increased only marginally from 2.7 percent in 2015 to 3.4 percent in the 2016 Census. Despite making up 20 percent of the U.S. population, women of color trail the number of white men, men of color, and white women, according to LeanIn.Org and McKinsey & Co.
The big why
A growing body of research (Ernest & Young, McKinsey & Co.,