Articles

 By Jim Tyson, Senior Reporter

Women have made gains in recent decades at companies of all sizes but are far from attaining parity with men in all ways in the workplace, according to recent reports.

Dive Brief:

Female CFOs and CEOs at Standard & Poor’s 500 companies will outearn their male counterparts this year, bagging at least 5% more in median compensation compared with top male executives, the Conference Board said Monday.

At the same time, women lag far behind men in rising to the No. 1 role at big companies, filling just 7.9% of CEO positions among S&P firms, the Conference Board said in a report co-written by FW Cook and ESGAUGE. Women held 6.4% of the top jobs in 2020.

“Since women remain underrepresented in CEO roles, companies are likely offering more competitive compensation packages to attract and retain female leadership,” said Matteo Tonello, the Conference Board’s head of TCB benchmarking and analytics. “These higher pay packages reflect both efforts to improve diversity at the executive level and the recognition that such talent is scarce.”

Dive Insight:

Women CEOs at S&P 500 companies will earn $16.5 million in median compensation compared with $15.6 million for top male executives for a 5.37% advantage, according to Conference Board data. Women CFOs at S&P 500 companies will earn on median $5.8 million, or 8.4% more than the $5.35 million compensation for men.

Women have made gains in recent decades but are far from attaining parity in the workplace, McKinsey said last month in a report. They lag men in opportunities at all levels of the corporate pecking order, from entry level, to senior manager, to the C-suite.

Although women fill 29% of C-suite positions compared with just 17% in 2015, they are less likely than men to gain an entry-level job and to attain their first promotion to a manager role, McKinsey said after surveying 281 organizations employing more than 10 million people for an annual report on women in the workplace.

More broadly, progress by women in wage gains, labor force participation and in rising to the upper tier of management has stalled in recent years, according to the Pew Research Center. “Large gender gaps persist at the top levels of government and business leadership,” Pew said.

Only 11% of Fortune 500 companies are led by women CEOs, Pew said, adding that Fortune 500 boards are just 30% female.

Among the 10 highest-paying U.S. occupations — ranging from physicians and dentists to lawyers and airline pilots — women have increased their presence to 35% last year from 13% in 1980, Pew said in its February report.

Yet U.S. employers have made limited progress during the past two decades in aligning average earnings among women and men, according to Pew.

U.S. women in 2022 earned just 82 cents for every dollar men earned, only 2 cents more than in 2002, Pew said.

Among Russell 3000 companies, female CEOs gained $6.7 million in median compensation compared with $6.1 million for their male counterparts, the Conference Board said. Still, women CEOs lead only 6.9% of Russell 3000 companies.

“The CEO position is extremely visible, and compensation arrangements for public companies are disclosed in detail,” FW Cook Managing Director Dana Etra said in an email response to questions.

“Boards are acutely aware of the disclosure implications, as well as the message that pay arrangements send externally,” she said. “The sensitivity around the broader gender pay gap and potential perception of such contributes to boards’ decision making around female executives’ pay.”

Women have led men in median CEO pay since 2018, with the exception of 2023, when they made about $10,000 less, the Conference Board said. Since 2018 their pay advantage has narrowed to 5.37% from 8.15%, according to the Conference Board.

The trend of higher pay for women CEOs will probably continue, according to analysts at the Conference Board and FW Cook.

“The trend is likely to continue in the immediate future,” Etra said, while predicting that “as the talent pipeline evens out, the compensation will as well.”

The IRS has adjusted tax brackets to account for inflation

Mark Huffman, Reporter

Jan 30, 2025

The 2025 tax season got underway this week as the Internal Revenue Service began accepting 2024 tax returns. Those who are planning their 2025 tax strategy might want to review tax changes in the new year, starting with tax brackets.

The marginal tax rates for 2025 remain largely consistent, with the top rate at 37% for single taxpayers earning over $626,350 and married couples filing jointly with incomes exceeding $751,600. Other rates include 35% for incomes above $250,525 for singles and $501,050 for joint filers, and 32% for incomes over $197,300 for singles and $394,600 for joint filers. Lower brackets are set at 24%, 22%, 12%, and 10%, with corresponding income thresholds adjusted for inflation.

Here’s how it breaks down:

• 37% taxable incomes greater than $626,350 ($751,600 for married couples filing jointly)
• 35% for incomes over $250,525 ($501,050 for married couples filing jointly)
• 32% for incomes over $197,300 ($394,600 for married couples filing jointly)
• 24% for incomes over $103,350 ($206,700 for married couples filing jointly)
• 22% for incomes over $48,475 ($96,950 for married couples filing jointly)
• 12% for incomes over $11,925 ($23,850 for married couples filing jointly)
• 10% for incomes $11,925 or less ($23,850 or less for married couples filing jointly)

Other changes

For 2025, the standard deduction sees a modest increase. Single taxpayers and married individuals filing separately will benefit from a $15,000 deduction, a $400 rise from 2024. Married couples filing jointly will see their standard deduction increase to $30,000, up by $800, while heads of households will have a deduction of $22,500, marking a $600 increase from the previous year.

The Alternative Minimum Tax (AMT) exemption amounts have also been revised. For unmarried individuals, the exemption increases to $88,100, with a phase-out beginning at $626,350. Married couples filing jointly will see an exemption of $137,000, phasing out at $1,252,700.

The Earned Income Tax Credit (EITC) for taxpayers with three or more qualifying children will rise to a maximum of $8,046, up from $7,830 in 2024. Additionally, the qualified transportation fringe benefit and parking limitations will increase to $325 per month, reflecting a $10 rise.

Health spending

Health flexible spending arrangements will see an increase in the contribution limit to $3,300, with the carryover amount rising to $660. Medical savings accounts for self-only coverage will have a deductible range of $2,850 to $4,300, while family coverage deductibles will range from $5,700 to $8,550.

The foreign earned income exclusion will increase to $130,000, and the estate tax credit exclusion amount will rise to $13,990,000. The annual gift exclusion will also see an increase to $19,000. Lastly, the adoption credit for a child with special needs will be up to $17,280.

These adjustments aim to account for inflation and provide taxpayers with updated thresholds and benefits, ensuring that the tax system remains equitable and responsive to economic changes.

Retained executive search consultants are primarily interested in passive candidates, and consultants manage far fewer searches at a time because of the nature of the search process. Because they are paid by the organization to conduct a search, they do not represent candidates.

What you should understand when using a retained executive search firm for the first time!

Retained executive search firms operate on an exclusive mandate. They focus primarily on senior level, specialty type leadership roles or difficult to fill positions.  Like many other professional service organizations, management consultants, lawyers, accountants, etc., the retained part of it comes from the upfront fee that you pay to initiate the search process. This is key, as it means that there is a well-resourced back office that is crucial to conducting a focused, professional, and successful search.

Because executive search firms are retained by the client organization to conduct a search, they search out and recruit the best qualified candidates for the position based upon the specifications the search firm and client have established. They don’t just rely on resumes and their database for candidates.  Rather, they will scour the hidden nooks and crannies of the industry–and allied industries–to find the ideal candidate. A significant investment of resources is made in every assignment to identify, connect with, interview, evaluate and assess candidates against the client’s position profile. They want you to hire the best possible individual for the position.  This is why it’s called “SEARCH.”

Talent – the World’s Most Valuable Resource

Today’s pursuit for talent is as competitive as ever. Companies are not devoid of cash to invest in new products and services; they are devoid of the people to lead these initiatives.

The majority of our value-add is recruiting individuals who are:

• Currently employed
• Content in their current position
• Appreciated by their employer
• Not actively looking to make a change

By Katie Kuehner-Heber

Whether it’s questions around talent or tech, here’s how to know when it’s time to change strategies, and how to do it.

In today’s fast-changing workplace landscape, employers need to be increasingly flexible to attract and retain key talent. From hard-to-fill roles to mastering emerging technology, sometimes the best strategy is not singular, but being light on your feet, ready to switch things up.

Business demands constantly change. How are employers shifting gears to stay ahead?
In a down economy, there are not as many jobs, skills are shifting and many emerging job roles include an AI component. Shifting gears is necessary, and it requires building flexibility into the talent acquisition function.

Employers need to think differently about data. Many companies access data from many sources, but what they need is visibility and guidance on what to do with it to inform decisions. If you can integrate talent data from across the entire ecosystem of internal and external sources, you can quickly uncover hidden issues, determine the best path forward and foresee conditions ahead. Machine learning and predictive analytics lead to precise, actionable intelligence that informs effective planning.

Many employers are also expanding their candidate targeting and attraction capabilities. The focus is on creating a flexible, at-the-ready ecosystem of resources that can pivot swiftly as market conditions warrant. This approach can mean engaging a recruiting solution dedicated to a hiring project, reaching across industries for transferrable skills or opening roles up to both contingent and permanent talent pipelines to meet demand.

The talent function struggles to satisfy conflicting demands from the business. How do HR leaders “stop the noise?”

HR leaders face many business demands. Hiring managers raise alarms about open vacancies, unsatisfactory candidates, or low-performing hires. Those leaders are also expected to keep up with innovations, stay ahead of competitors and prepare for the future. At the same time, the C-Suite wants a solid strategy and measurable results.

Data removes emotion from the conversation. Use data to ask the right questions. If there is a hiring problem, where is the disconnect? Is one location or role skewing the whole process? Is the offer too low?

Are the right recruiting resources assigned to the task? Is a contingent worker or permanent hire best, and if contingent, what is the ideal bill rate? Is there one point in the candidate journey where applicants are held up or drop out?

Employers benefit from an approach that pinpoints problems and suggests specific solutions supported by a data integration and analytics platform.

Another way to stop the noise is with small wins. It could be an executive search placement, a project hiring effort where a few dozen hires are delivered on time or working with a procurement leader to identify and contain an uncontrolled cost. These wins are personal, and they create supportive allies for HR leaders.

Filling high-value and hard-to-fill roles can shape the credibility of HR and talent acquisition. How are leaders addressing those needs?

Hard-to-fill roles will always be a part of recruiting. Those roles may demand new skills, target professions in short supply, such as healthcare clinicians, or involve roles with all eyes on HR leaders to get it right. Whether you need a new VP of sales or 200 industrial workers to open a new facility, those high-value roles demand attention.

Seeing the challenges early is a significant advantage. When you identify the risk early, you can adjust strategies, bring in specialty recruiters or expand your sourcing. Challenging hires also involve broader strategies.

Is AI really changing the talent market, and if so, what should we do about it?

Talent acquisition functions rely on AI to manage high volumes of talent, distill enormous amounts of market research and automate communications to make the candidate’s journey easier. Candidates use tools like ChatGPT in the application process. This use of AI remains controversial, but accepting such tools will lead to improved application processes that enable companies to treat generative AI as the legitimate but imperfect business tool that it is.

The benefits of AI extend across industries, too. A Stanford study found that roughly 30 percent to 65 percent of decision-makers benefitted from cost reductions and revenue increases based on AI, with manufacturing at the top at 66 percent.

Digital acceleration, including AI, shows up in nearly half of companies’ three-year plans, according to a 2024 Mercer study, and redesigning work to incorporate AI and automation is number five out of 20 on the report’s HR priority list.

AI tools give employers more recruiting power than ever, but competitors have the same benefits. AI will be different a year from now. The same can be said for all parts of talent acquisition—the markets, the priorities and what it takes to secure high-value talent.

Stay focused on building change readiness into your talent acquisition function. Flexibility is a priority, and that ability to shift makes the difference when striving to meet your business and workforce goals.

By Jovanka Lakic – MarshMcLennan Agency

In today’s work environment, remote and hybrid work arrangements have become increasingly prevalent. As a manager, leading a remote and hybrid team presents challenges and opportunities. Here are some valuable insights and practical advice from a manager’s perspective on effectively managing remote and hybrid employees.

Establish clear communication channels: One of the essential foundations for managing remote and hybrid employees is establishing clear and effective communication channels. Regularly scheduled team meetings, one-on-one check-ins, and virtual collaboration tools can help foster open lines of communication. Encourage team members to share updates, ask questions, and provide feedback to ensure everyone feels connected and engaged.

Set clear expectations and goals: It is crucial to establish clear definitions of roles, responsibilities, and performance expectations for every team member. Setting measurable goals and delivering consistent feedback are vital for keeping employees motivated and on track. Regularly reassess and modify goals as necessary to accommodate shifting circumstances.

Encourage a culture of trust and autonomy: Trust is crucial when managing remote and hybrid employees. Allow team members the autonomy to manage their work and make decisions independently. Have confidence that they will deliver results and meet deadlines. Encourage open communication and be available to provide guidance and support when needed. Nurturing a culture of trust empowers team members and fosters a strong sense of ownership and accountability.

Prioritize employee well-being: Managing remote and hybrid employees requires paying attention to their well-being. The boundaries between work and personal life can become blurred in remote work scenarios, potentially resulting in burnout. Encourage a healthy work-life balance by promoting regular breaks, setting clear boundaries around working hours, and encouraging employees to take time off when needed. It is important to show empathy towards personal challenges and provide available resources for mental health support.

Foster team collaboration and engagement: Remote and hybrid work arrangements can occasionally result in individuals experiencing feelings of isolation and disconnection. As a manager, it is essential to foster team collaboration and engagement. Encourage virtual team-building activities, such as virtual coffee breaks or team challenges. Use collaboration tools to facilitate brainstorming sessions and encourage cross-functional teamwork. Celebrate team achievements and recognize individual contributions to boost morale.

Embrace technology and tools: Leverage technology to streamline communication, collaboration, and project management. Invest in reliable video conferencing platforms, project management software, and virtual collaboration tools. Provide comprehensive training and continuous support to ensure that employees are equipped with the necessary skills and knowledge. Continuously assess and update the technology stack to align with the team’s evolving needs.

By: Jobber Home Service Software

Jobber, a leading provider of home service software, released The Annual Blue-Collar Report: Gen Z and the Trades Need Each Other. The report, based on survey responses from 1,000 students in the U.S. aged 18-20, provides insight into how Gen Z navigates education and career choices, as well as offers solutions on how to inspire and encourage younger generations to consider taking advantage of all that blue-collar careers have to offer.

According to The Annual Blue-Collar Report, 76% of Gen Zs agree there is a stigma associated with going to vocational school over a traditional four-year university. This reality threatens our homes, economy, and the livelihoods of younger generations.

“If you own a home, you have a problem,” warns Sam Pillar, CEO and co-founder of Jobber. “While there is some renewed interest among the younger generation to pursue blue-collar careers, there’s still far too much work homeowners need done, and not enough workers to do it. We need to do a better job showing Gen Z how incredible the opportunities in the trades are, and encouraging them to consider that path.”

The U.S. housing stock is aging rapidly, with the median age of homes reaching 40 years. This is a critical problem as the U.S. is experiencing a labor shortage across most industries as labor force participation declines and the workforce ages and retires. In addition, the U.S. Bureau of Labor Statistics states that employment demands in trade industries are often greater than or pacing the 3% average of all occupations, representing not just a gap, but a growing chasm.

Key findings from the report provide deeper insights into why Gen Z is not pursuing blue-collar careers and how society can encourage younger generations to consider them. Despite the growing stigma and misconceptions that Gen Z has, The Annual Blue-Collar Report clearly shows that they actually do want blue-collar careers, and just don’t know it yet.

The “American Dream” needs a blue-collar rebrand

Gen Z has been taught to measure success through a white-collar lens, but AI, the economy, and layoffs are changing their minds. Their concerns around white-collar careers are clear.

• One-third (33%) of Gen Z say that white-collar desk jobs are less stable today than they were for their parents’ generation.
• 41% of Gen Z agree that the potential for AI to replace jobs has made it harder to achieve the “American Dream” and 46% believe there will be fewer future job opportunities as a result.
• 70% of Gen Z say they are not optimistic about the future of the economy.
• When asked what would make a trade career more appealing, Gen Z described what blue-collar professions already offer, including flexible work hours (73%), job stability (61%), and overtime pay (58%).

Gen Z’s biggest career influences are letting them down

Parents have blue-collar blindness, schools deserve a failing grade for blue-collar education, and Hollywood is doing hard work dirty.

• Family (51%) was identified as the biggest influence on Gen Z and the careers they chose to pursue by a significant margin.
• 61% of Gen Z say their parents haven’t spoken to them about vocational school or told them not to consider it.
• Just 17% of Gen Z say they have been educated on the benefits of vocational training following high school graduation. This was significantly lower than bachelor’s degree, community college, military service, and entrepreneurship.
• More than a third (35%) of Gen Z say television shows and movies have influenced the careers they want to explore and 47% describe trade professionals as being generally portrayed negatively (incompetent, unhealthy, and/or unhappy) in shows and movies.

We simply need more women in the trades

While many workforces have evolved to accommodate the modern gender distribution of labor, the trades have yet to establish this balance.

• Nearly half (48%) of Gen Z agree that women are discouraged from pursuing trade careers from a young age.
• 58% of Gen Z say that women face more discrimination within trade careers—compared to other career options—with the majority of women (68%) believing this compared to men (47%).

In addition to survey data and insights, The Annual Blue-Collar Report offers testimonials from people like 27-year-old commercial and residential electrician, Lexis Czumak-Abreu, who attests to the benefits of blue-collar work: “I studied pre-med in school, intending to become a surgeon but decided to become an electrician instead. Many people in my family are electricians, including my dad. The salary is great, the hours are stable, and the work is very gratifying!”

Finally, The Annual Blue-Collar Report highlights 10 specific calls to action for the general public, blue-collar professionals, policymakers and educators, and the media to help connect the dots between Gen Z’s fears and desires and the blue-collar opportunity in front of them, as well as eliminate the existing harmful stereotypes.

To access The Annual Blue-Collar Report Powered by Jobber, visit jobber.com/blue-collar.

By: Truforte Business Group

Beginning with the End in Mind

As a business owner, you’ve likely poured time, effort, and resources into building your company. But whether you’re considering selling in the near future or just laying the groundwork, one of the most strategic decisions you can make is to begin with the end in mind. Dr Stephen Covey in his popular book The Seven Habits of Highly Effective People refers to “beginning with the end in mind” as habit #2 and describes it as “to clearly visualize your desired outcome or goal before taking action”. Planning your exit strategy early on ensures that when the time comes to sell, you’ll be well-positioned to maximize the value of your business and meet your long-term financial and personal goals.

The Importance of an Exit Strategy

An exit strategy is more than just a plan for when you’ll sell—it’s a roadmap for aligning your business’s development with your eventual exit. Many business owners fall into the trap of focusing solely on growth and operations, delaying exit planning until they’re ready to sell. Unfortunately, this often leaves money on the table.

By having a clear exit strategy from the outset, you can make strategic decisions that enhance the value of your business over time. This could involve developing key revenue streams, reducing reliance on your involvement, or positioning the business in a way that appeals to potential buyers. A well-thought-out exit plan ensures that your business is attractive to buyers and that you can sell on your terms.

Maximizing Business Value

One of the main goals of any exit strategy is to maximize the value of your business. To achieve this, you need to focus on several key factors that buyers consider when evaluating a company:

Financial Health: Buyers want businesses with solid financials, including strong revenue, profits, and growth potential. Ensuring your financial records are clean, accurate, and up-to-date is critical for presenting a clear picture to potential buyers.

Market Conditions: Understanding the market landscape is essential. Is your industry growing or declining? Are there strategic buyers or competitors looking to acquire businesses like yours? Timing the sale to take advantage of favorable market conditions can significantly boost your business’s value.

Growth Potential: A buyer is not just purchasing your current operations—they are investing in your business’s future potential. Demonstrating clear opportunities for future growth, such as expanding into new markets or launching new products, can make your business more appealing.

Reducing Owner Dependency: Businesses overly reliant on their owners are seen as riskier by potential buyers. The more your business can operate independently, the more attractive it becomes to someone looking to step in without needing you at the helm.

By focusing on these areas, you can position your business as a valuable asset that commands a higher sale price.

Timing the Sale

When it comes to selling your business, timing is everything. The decision to sell should be influenced by both external market conditions and your personal goals. Selling during a market downturn or when your business is underperforming can significantly reduce your sale price.

To ensure you’re selling at the right time, it’s important to track both the health of your business and market trends. Are you hitting key performance targets? Are there competitors acquiring businesses in your industry? If so, it may be a good time to explore your options. On the other hand, if you have the luxury of time, waiting for favorable market conditions can be a smart move.

It’s also essential to consider your personal timeline. Are you nearing retirement? Do you have other opportunities you’d like to pursue? These factors should also weigh into your decision, as selling at the right time for you personally is just as important as market timing.

Key Steps to Prepare for a Sale

When the time comes to sell, preparation is key. Here are some practical steps to take well in advance of the sale:

Organize Financial Records: Accurate financial reporting is crucial. Buyers will conduct due diligence, and any discrepancies or gaps in financial information can raise red flags.

Clean Up Legal Structure: Ensure your business’s legal structure is clear, and any ownership issues, liabilities, or intellectual property concerns are addressed.

Streamline Operations: Efficient operations that run smoothly without your constant oversight make the business more attractive to buyers. Document processes and ensure that your team is capable of managing the day-to-day without heavy owner involvement.

Reduce Owner Dependency: As mentioned earlier, transitioning responsibilities away from the owner not only boosts value but also ensures a smoother transition for the buyer.

By addressing these areas early on, you’ll make the sale process more seamless and ensure your business is well-positioned to command a higher price.

Conclusion: Plan for a Strategic Exit

Selling a business is one of the most significant financial decisions a business owner will make. To ensure a successful sale, it’s vital to begin with the end in mind. By developing an exit strategy early, focusing on maximizing business value, and carefully timing the sale, you can take control of your business’s future and achieve your personal and financial goals.

Whether you’re planning on selling a business now or in the future, the steps you take now will determine your success when that time comes. Start planning today to ensure your business is ready for a strategic and profitable exit.

If you are thinking about selling your business…

Call Brooke Chase Associates M&A Referral Services at 941-479-6382.

By Cindy Barth – Contributing Writer , The Business Journals

Women — especially women of color — still are not moving into the positions from which CEO recruitment takes place at a pace fast enough to reach gender equity within the next decade.

The historic rise in women CEOs leading major firms in 2023 sparked widespread optimism that we might finally be on a steady upward swing, but that momentum stalled somewhat in 2024, according to the Women Business Collaborative’s 2024 Women CEOs in America Report.

As a result, while there has been improvement over the past 20 years in the number of women CEOs, the pace is “glacially slow,” noted Catalyst President and CEO Jennifer McCollum in a post on LinkedIn. “But there are bright spots.”

For instance, despite ongoing inequities and public backlash against DEI efforts, women entrepreneurs are experiencing strong growth in companies valued at more than $1 million. Additionally, there is an increase in women leading private companies and serving as CEOs within the Russell 3000, the report said.

But that uptick is not being experienced in all areas. As of July 2024, the number of women at the helm of Fortune 500 companies remained unchanged at 52, the report said.

In addition, the number of women CEOs in the S&P 500 declined from 41 in 2023 to 39 in 2024. However, there was an increase in the number of women CEOs in the Russell 3000, from 204 to 270, and the percentage of women CEOs in private companies is up more than 30% from 2023.

The WBC report corroborates data from Wells Fargo’s 2024 Impact of Women-Owned Businesses report released earlier this year, which found that women-owned businesses are having an undeniable impact on the U.S. economy, with women owning more than 14 million businesses, employing nearly 12.2 million people and generating $2.7 trillion in revenue.

That said, the stagnation does raise concerns about whether true gender equity in top executive positions is achievable in the near future, the report said. Women — especially women of color — still are not moving into the positions from which CEO recruitment takes place at a pace fast enough to reach gender equity within the next decade.

 A Closer Look at the Numbers

Fortune 500: 52 women CEOs, 10.4%

Fortune 1000: 46 women CEOs, 9.2%

Russell 3000: 270 women CEOs, 9%

S&P 500: 39 women CEOs, 7.8%

Private (> 1 billion): 180 women CEOs, 7.2%

Entrepreneurs > 1 million): 14 million, 25%

 Source: 2024 Women CEOs in America Report

 In addition, the polarizing climate around diversity, equity and inclusion threatens to jeopardize the gains made by women in recent years, the report adds.

According to S&P’s Quantamental Research, the growth in women’s representation among senior corporate positions potentially faces an alarming turning point. “Growth no longer appears exponential,” write study authors Henry Chiang, Samrudhi Kaulapure and Daniel J. Sandberg. “A waning focus on diversity initiatives suggests a potential inflection point and calls our previous gender parity estimates into question.”

To create meaningful change when it comes to gender parity in the CEO ranks, a commitment to a diverse workforce must start with senior leadership, then shared throughout the company and be viewed as a key part of corporate culture, the report said.

Some specific steps organizations can take include:

• Sponsoring and advocating for women’s leadership, especially for women of color
• Celebrating those leaders advancing women in the executive suite and toward the CEO position
• Actively supporting efforts to build pathways for women of color to be advanced to executive leadership, board directorships and executive committees
• Calling on current boards and CEOs to be intentional in building a diverse pipeline for talented women as CEOs

 “Diversity, equity and inclusion work is not always easy, and the results don’t always come immediately,” said Edelman’s Trisch Smith, global chief diversity, equity and inclusion officer. “But organizations owe it to their employees, customers and all stakeholders. The work is worth it — for both employees and the business bottom line.”

Here’s a deeper dive into what the numbers currently show about the current state of women in leadership roles, what the data signals for gender equity and what we must do to pave a way forward.

The current state of women in leadership

Fortune 500 

• There are 52 women CEOs in the Fortune 500 as of July 2024, the same number as in 2023.
• There are 8 new women CEOs in 2024; 8 women CEOs departed.
• Women are 10.4% of the Fortune 500, the same percentage as in 2023.

Fortune 1000

• There are 46 women CEOs in the Fortune 1000 (501-1000) as of July 2024.
• Women are 9.2% of Fortune 1000 CEOs. 

 Russell 3000 

• As of 2024, 9% of CEOs in Russell 3000 companies were women, up from 6.2% in 2021.
• By June 2024, there were 270 women CEOs in the Russell 3000, representing an increase in women’s leadership within smaller public companies.
• In 2023, women made up 6.8% of the Russell 3000 (204 women).

 S&P 500

• Women currently hold 39 of CEO positions at S&P 500 companies, or 7.8%.
• There is a decrease from the 41 women who held CEO positions in S&P companies in 2023.

 Private companies (more than $1 billion)

• There are 180 women CEOs leading private companies worth more than $1 billion in 2024.
• Women make up 7.2% of private company CEOs of more than $1 billion in 2024.
• In 2023, there were only 3.3% of women leading private companies.

Women entrepreneurs

• Women entrepreneurs have continued to grow rapidly, with a 41% year-over-year growth rate from 2023 to 2024, outpacing men counterparts by 25%. Women aged 25-34 remain the largest group, but there has been significant growth among younger women aged 18-24 (up 67%) and women over 65 (up 69%). Women of color entrepreneurs drive the economy nationwide, with businesses owned by racially or ethnically diverse women growing at a faster rate than their white counterparts — despite being less likely to have access to capital.
• As of 2024, there are approximately 14 million women-owned businesses in the U.S.
• Women now own 34% of all small businesses and franchises, contributing significantly to employment and revenue in the private sector.
• One in four businesses with revenue of $1 million or more are woman-owned.

Women of color

• Between 2019 and 2023, Black women-owned businesses saw average revenues increase 32.7%. Hispanic or Latina-owned small businesses also had a 17.1% increase. Asian women-owned businesses saw a more modest increase of 7.5%, Comparatively, all women-owned businesses saw a 12.1% rise.

What the data signals for gender equity

• There are headwinds to progress, and the pipeline for senior leadership has cracks. Women, especially women of color, still are not moving into the positions from which CEO recruitment takes place at a pace fast enough to reach gender equity within the next decade.
• The polarizing climate around diversity, equity and inclusion threatens to jeopardize the gains made by women in recent years.
• Women are making strides at private companies and at smaller companies, albeit at slower rates.
• Women have founded and own businesses, continuing to make a positive mark on the economy. With greater access to capital, it is likely to see women’s businesses of $1 million or more continue to gain momentum over the next few years.

Pipeline problems

• The growth of women’s representation among all senior leadership positions in the U.S. dropped to the lowest rate in more than a decade, 0.5% vs. 1.2% on average.
• Across C-suite positions, women lost seats for the first time over the study period of 2005-2023. Women held just 12.2% of the 15,000 C-suite positions across publicly traded U.S. firms in 2022. However, women’s progress declined to 11.8% in 2023.
• Forecast models of parity for senior leadership positions among U.S. firms now suggest parity one to seven years later: 2033-2042 compared with 2022 estimates.