The Composition of the Board
In certain countries, the managerial functions of the members of the board of directors or trustees are limited to ensuring that the rights of senior executives or members of the board are well represented. They serve as overseers whose main function is to maintain the hierarchy in the company. In other countries though, the board of directors is given a more expansive role. They are given the task of representing the customers, ordinary employees, and company executives. If there isn’t a single woman on the board, then the female population in the company won’t have a representative. No one will be able to voice the struggles of working for women in the company and how hard it’s for women to attain a promotion.
The Role of the CEO
According to many researchers, companies in the United States treat CEOs differently than companies in other countries in the sense that they are given a much higher regard. They are given a higher and more prominent role in choosing the members of the board of directors, which leads the board of directors to be composed of individuals who are known by the CEO. Considering that there are not a lot of female CEOs in the US, the likelihood of having female members on the board is greatly affected. It also doesn’t help that many of these male CEOs are not particularly observant when it comes to the women in the corporate industry who are top performers.
The Social Factor
Even though experience and skills are always considered when it comes to choosing the members of the board of directors, there’s no use denying the fact that familiarity plays a huge factor. Existing members are inclined to settle for their golf buddies or employees they go out to drinks with after working hours. Because of the fact that many women in the corporate industry don’t prefer these types of social scenarios, they are often left behind by their male competitors who are more than willing to chime in during these events. Women then end up settling for the backseat or pushing themselves into uncomfortable positions and social events just to be noticed by the current board of directors.
These are just some of the factors that can make promotions harder for women in the corporate industry. To ensure that these factors are properly addressed and recognized, taking an in-depth look into these ones is an absolute must, not just for women but for other employees who are struggling as well.