When it comes to combatting gender inequality, there's more that needs to be addressed than just the lack of representation. Research plays a huge role in giving companies the ability to properly address these issues.
LedBetter is focused on addressing issues of gender inequality with research. Led by co-founders Iris Kuo and Camille Rickets, this largely volunteer-led project that focuses on research. Compiling all of the gathered data into a database, that information is then used to educate “consumers, policymakers, leaders, and journalists” about gender inequality in business.
LedBetter's research also focuses on top consumer brands and companies, showcasing the gender ratios of leaders like directors and executive leadership teams. They're supported by others that specialize in combatting gender inequality in business, like International Women's Media Foundation,
Not convinced? Here are some of LedBetter's key findings so far:
- Only 6 percent of the database’s CEOs are women — that’s 14 female CEOs out of 230 companies featured.
- Average board representation was 23 percent, and average executive team representation was 19 percent. A company’s executive team is defined by the executives listed on its investor relations/corporate governance website.
- By industry, energy scored the worst, with an average Index Score of 13.3, followed by children’s products, which scored 14.9.
So, is there work left to do? Even with the progress that has been made, there still is. Here's what's next in store for the project:
“With just over 2,000 brands in the LedBetter Database today, there’s so much more to do. We want to shine the same light on private companies, educational institutions, and even government agencies. We want to do the same diligence for underrepresented minorities. We want to factor in other elements of good, solid, representative leadership and help consumers make more values-driven, impactful decisions. But we’re excited to start here, and hope you’ll visit the site, discover new information, and share with the people in your life who care about these issues.”
Tackling gender inequality requires tackling various solutions but having evidence to examine what the right course of action to take is will make a drastic difference in combating gender inequality once and for all.
Image Credit to Stocksnap.