Women are Leaning In, But Companies Still Struggle to Close Gender Gap
*By Carlo Versano*
The multi-year Women in the Workplace report, produced by Sheryl Sandberg's Lean In organization with McKinsey & Company, reveals a stubborn problem of gender diversity in corporate America.
As Rachel Thomas, the president of Lean, explained to ChedHER on Friday, that companies are clearly interested in closing the gender gap ー but they haven't done enough to make it happen yet.
"Women are doing their part," Thomas said. "What do companies need to do?"
Sandberg, the COO of Facebook ($FB), and Thomas penned an [op-ed](https://www.wsj.com/articles/sheryl-sandberg-on-what-companies-need-to-do-to-lean-in-1540267620) for The Wall Street Journal after the release of the report outlining that "disconnect."
Thomas cited data showing women are asking for promotions and raises at the same rate as men and ー contrary to popular thinking ー do not leave the workplace at a higher rate. Yet they still remain "underrepresented at every level" of the corporate ladder.
One of those reasons, according to Thomas, is a form of performance bias that is widespread and stubborn in the hiring process: men's performance is slightly over-estimated, while that of women is slightly under-estimated.
"As a result, men are often hired and promoted based on their potential," Thomas said. "And women are often hired and promoted based on what they've accomplished."
That is particularly problematic for entry-level hiring, where men and women have less differences in accomplishments between them.
It's part of a "pipeline" problem that Lean In is trying to correct. Companies need to start thinking of gender diversity as a "must have" and not just a "nice to have," Thomas said.
For full interview [click here](https://cheddar.com/videos/the-president-of-lean-in-tells-us-how-companies-can-improve-their-workplace-culture).
A new version of the federal student aid application known as the FAFSA is available for the 2024-2025 school year, but only on a limited basis as the U.S. Department of Education works on a redesign meant to make it easier to apply.
A steep budget deficit caused by plummeting tax revenues and escalating school voucher costs will be in focus Monday as Democratic Gov. Katie Hobbs and the Republican-controlled Arizona Legislature return for a new session at the state Capitol.
The first U.S. lunar lander in more than 50 years is on its way to the moon. The private lander from Astrobotic Technology blasted off Monday from Cape Canaveral, Florida, catching a ride on United Launch Alliance's brand new rocket Vulcan.
Global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022, when Russia’s war in Ukraine, drought and other factors helped worsen hunger worldwide, the U.N. Food and Agriculture Organization said Friday.
Wall Street is drifting higher after reports showed the job market remains solid, but key parts of the economy still don’t look like they’re overheating.
The Biden administration is docking more than $2 million in payments to student loan servicers that failed to send billing statements on time after the end of a pandemic payment freeze.
The nation’s employers added a robust 216,000 jobs last month, the latest sign that the American job market remains resilient even in the face of sharply higher interest rates.
A U.S. labor agency has accused SpaceX of unlawfully firing employees who penned an open letter critical of CEO Elon Musk and creating an impression that worker activities were under surveillance by the rocket ship company.