*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).
If you have a flexible spending account, here's some short information for you so you don't leave money on the table.
With high healthcare costs, bills can quickly add up. In some cases, it is possible to negotiate your medical bills. Barak Richman, law professor at George Washington University, joined Cheddar News to discuss the easiest way to talk to medical debt companies about what's owed.
Millions of people have selected insurance plans for 2024 but sometimes navigating them can be tricky time consuming and expensive. Paula Pant, host of 'Afford Anything' podcast, joined Cheddar News to break down what's needed to know about their insurance plans.
The European Union is investigating Elon Musk's X over alleged illicit content and disinformation on its platform. Cheddar News breaks it all down and discusses what it could mean for users.
Adobe and Figma called off their $20 million merger, Southwest Airlines gets fined, Nippon Steel is buying U.S. Steel and oil and gas prices surge after a pause in shipments.
With more employees being called back to the office, many workers are suddenly protesting by being in the office for as little time as possible. As the term suggests, coffee-badging means coming in for just enough time to have a cup of coffee, show your face, and swipe your badge.
Japan's Nippon steel is buying U.S. Steel for $14.9 billion.
Southwest Airlines will pay a $35 million fine as part of a settlement over a 2022 holiday season disaster that saw the airline cancel thousands of flights and leave millions of people stranded.
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
Stocks opened slightly higher after Monday's opening bell after several weeks of gains as the year closes out.
