Social Perceptions, Gender Roles, and Female Leadership: A Theoretical Grounding for Understanding the Underrepresentation of Women in Top Level Management
A growing body of research indicates that high gender diversity in corporate senior management positions creates a significant and positive influence on business growth potential (Chiloane Tsoka, 2012; Clarke, 2011; Grant Thornton, 2012) A recent study of Fortune 500 companies conducted by Catalyst (Carter &Wagener, 2011) found that those with maintained higher involvement of women on their board significantly outperformed those with lower involvement with regard to capital return investment (60% higher) return on equity (46% higher) and return on sales (60% higher) Higher female participation rates at the senior level supplies talent, addresses an aging workforce, provides role models for highpotential women, and attracts/retains the best fit people in leadership positions (Burke Vinnicombe, 2005; Desvaux, Devillard Hoellinger, Meaney, 2008) Nevertheless, women remain underrepresented in senior leadership positions, and women in lower and middle management increased (Baumgartner Schneider, 2010; Hoyt, 2010) In 2013, women filled 51.4% of all management and professional positions (Catalyst, 2014a) at Fortune 500 companies, but only 14.6% of executive officer positions were female occupied (Catalyst, 2014b) By 2014, of the Fortune 1000 companies documented, only 51 companies (5% had female CEOs (Catalyst, 2014c) These figures document a gap between women and executive positions (Cook Glass, 2014; Jackson O'Callaghan, 2009) a phenomenon frequently described as a "glass ceiling," defined as a set of invisible upward mobility barriers that would diversify senior management positions (Baumgartner Schneider 2010; Burke Vinnicombe, 2005; Hoyt, 2010; Jackson O'Callaghan, 2009) This metaphor is often used to describe discrimination to higher leadership levels rather than entry level ones (Prasad, D'Abate, Prasad, 2007) Various strategies from organizational practices, career developmental programs/ training, and policy initiatives have been conducted to address the gender imbalance at higher leadership levels. Organizational practices implemented to achieve the advancement of women to more senior leadership levels include work life balance (Dreher, 2003) e mentoring (Headlam Wells, Gosland, Craig, 2005) and womenonly developmental programs (Clarke, 2011) Policy initiatives include Equal Employment Opportunity (EEO) legislation and affirmative action plans (Lockwood, 2004) Social Perceptions, Gender Roles, and Female Leadership: A Theoretical Grounding for Understanding the Underrepresentation of Women in Top Level Management