WIN comments on recent Women in the Workplace report from McKinsey & Company

Photo © AdobeStock.com/Alessandro Biascioli

McKinsey & Company recently published in most recent Women in the Workplace report, in partnership with LeanIn.org. According to the report, over the last decade, women have made important gains at every level of the corporate pipeline, but the progress is “fragile.” This is particularly true for women of color, who remain underrepresented at every level.

In terms of gains, between 2015 and 2024, the representation of women in the C-suite grew from 17% to 29%. While representation increased at all levels of corporate management, progress at earlier stages of the pipeline has been slower, namely at entry and manager levels. Of that 29% of women in the C-suite, only 7% are women of color. Women also remain underrepresented at every stage of the corporate pipeline. While there is more parity at entry level with women accounting for 48% of the workforce, that number continues to drop up the corporate ladder. Women are far less likely than men to get their first promotion to a managerial role. For example, in 2018, out of 100 men who received their first promotion, 79 were women. In 2024, that number only went up to 81 women.

The report states that at the current progress, it would take 22 years for white women to reach parity, however, it would take 48 years for women of color to reach parity. Additionally, company commitment to diversity is declining. In 2024, the report found that 78% of companies said gender diversity was a high priority, which was down from 87% in 2019. The same if true for formal support of women, with 37% of companies offering mentorship programs for women, compared to 48% two years prior.

Commenting on this research, Heather Granato, the president of Women in Nutraceuticals (WIN; Phoenix, AZ) said that both data and tools are crucial for companies as they evaluate their commitment to gender equality. “Within the nutraceutical industry, we talk about the importance of health and wellness, inclusion and innovation,” said Granato, in a press release. “One of the greatest drivers of innovation is gender equality throughout an organization, and particularly in leadership. WIN is committed to collaborating with individuals and organizations to develop tools and programs that will drive positive change in the nutraceutical industry.”

WIN’s own report on gender representation, published in 2023 found that 37% of senior leadership roles and 28% of CEO positions in nutraceuticals were held by women. This is on par with the pharmaceutical industry which was reported in the 2024 Women in the Workplace statistics to have 41% female vice presidents, 35% senior vice presidents, and 29% C-suite. WIN, who was recognized as Nutritional Outlook’s Best of the Industry: Industry Leader, is committed to increasing the representation of women in leader within the nutraceutical industry. One way they are doing this is through its pilot mentorship program. WIN also has a job board and they will be launching a training module that assesses leadership readiness.