The numbers come first. Women’s share of roles in both the C-suite and at the board level has stalled at about 30%, marking the first decline in women’s board representation in more than a decade.
At the same time, the Fortune 500 has 56 companies led by women, or about 11.2% of the list, up from 7.4% six years ago. The gap between the top-line progress and the broader stall is what executives and advisers focused on at the Fortune Most Powerful Women Summit in Santa Barbara, Calif., on Monday.
Kelly Baker, executive vice president and chief human resource officer at Thrivent, said there has been less focus on developing and recruiting women into executive leadership. She said the slowdown reflects a frenetic environment that has deprioritized cultivating these leaders.
'I don’t think we can ignore the fact that there is a climate where organizations aren’t quite as focused,' Baker said. 'If you take your foot off the pedal at all, you will start to stall.'
Toni Townes-Whitley, a former Fortune 500 CEO and Nasdaq corporate board member, said fewer discussions about workplace diversity have reduced the spotlight on promoting women leaders. She also pointed to an attitude shift toward women’s capabilities.
'We can’t take away an environment where there is a question, almost a recalibration of women in the world,' Townes-Whitley said. She said negative rhetoric from multiple directions has women being challenged externally, internally, and by boards.
Jenna Fisher, managing director of global leadership advisory firm Russell Reynolds Associates, said only 36% of women in the workplace have considered becoming a CEO or said they wanted to be a CEO. She added: 'We can’t 3D print our candidates.'
Hayden Brown, president and CEO of Upwork, said she did not think about becoming CEO despite growing up in a household that supported women. She said it took a board chair to tell her, about 10 years ago, 'You should be a CEO.'
Brown said larger changes in the workplace will require men in senior positions to act as both mentors and sponsors for high-potential women leaders. Fisher said there is also one area of momentum: AI has created pressure for leaders who are adaptable and fluent in emerging technologies.
Russell Reynolds Associates research indicates women are ahead of men in AI adoption and implementation, perhaps because of a willingness to adapt. Fisher said that even though DEI is being discussed less than before, there remains strong demand for women in executive and board roles.
The market has already voted on one point: talent pipelines do not build themselves. When organizations stop treating promotion, mentorship, and leadership development as priorities, the result is predictable. Capital rewards clear rules, and companies that let advancement drift will eventually feel the cost in productivity, succession planning, and margins.
