17 Vital Facts You Need to Know for International Women’s Day (2022) 

International Women’s Day is in the second week of March. It is a celebration (or a social media ploy for some brands🙋🏻‍♀️ ) to acknowledge and recognize the achievements women have made in the past year. This day reminds us of how far women have come and how paradigms are shifting in the workplace, entrepreneurial world, society, and culture. And yet, we still have a very long way to close the economic gap (estimated 136 years according to the World Economic Forum report). 

This article lists 17 critical facts about women in the workplace and business from several global and national surveys or studies. These facts help paint a picture of how far women have come in the corporate and business world, what they face today, and what the future holds.

For 2022, I want to celebrate International Women’s by sharing these facts to inspire women to continue pushing forward and motivating people to become allies or continue their allyship. 

So, let’s start with how far women have come throughout the last decades. 

How Far Women Have Come – Workplace and Business

1. 41 Female CEOs of Fortune 500 companies; 300% increase from 10 years ago at only 12 women. <4>
2. 27% increase of C-level women executives from 2016 to 2021 <1>
3. 21% increase of women-owned businesses in 2019, compared to 2014 <3>
4. In 1972, women-owned businesses only represented 4.6% versus 42% of all firms in 2019 <3>
5. 49% Increase of Black women-owned businesses since 2014, and African American women-owned businesses make up 21% of all women-owned businesses in 2019. <3>
6. 39% Increase of Latina women-owned businesses since 2014, and Hispanic women-owned businesses make up 18% of all women-owned businesses in 2019. <3>
7. Women running a side business have increased by 39% from 2014 to 2019, and for African American women, it’s grown by 99%. <3>

In less than a decade, there has been a substantial growth of women entrepreneurs and business ownership, especially in minority communities- faster growth than in the corporate world. Taking a closer look at these facts, we can assume advancing in a corporate setting for women comes slower. And perhaps women no longer want to wait for their promotion. Instead, they’re creating their own opportunities by launching a business of their own.

Present Day: Women in the Workplace and Business

Studies have shown that women in the workplace have helped companies navigate the pandemic setbacks as the world slowly inches its way into a post-pandemic existence. And prior to the pandemic, the rise of women businesses was on the rise in 2019 and is expected to continue to grow post-pandemic. But for most women, launching a business came out of a necessity (due to unemployment) or flexibility (to accommodate caregiving responsibilities).

1. 61% of women in management roles checked in on the well-being of employees during the pandemic compared to 54% of men. <1>
2. Women in leadership roles spend more time contributing to diversity, equity, and inclusion efforts (38% of women compared with 26% of men). <1>
3. 76% of working women personally take active steps to help other women advance in their careers. <2>
4. 13 million businesses were owned by women in 2019, representing 42% of all businesses in the U.S.
5. $1.9 Trillion in revenue from women-owned business in 2019 <3>
6. 1,817 new women-owned businesses are started every day. <3>

What Does the Future Hold for Women?

KPMG, a globally recognized audit firm, conducted a study with over 3000 college and working women and found that female colleagues, role models, and professional networks play a critical role in advancing women’s leadership.

1.  83% of working women today know the steps they take will help set the stage for future generations of women. <2>
2.  86% of women in the workplace felt encouraged when they saw women in leadership roles and believed they could get there themselves. <2>

In 2019, McKinsey Global Institute conducted a global research report covering 20 countries and studying 30 different industries on the future of work. The report focused on the growing adoption of automation and A.I. technologies.

1.  By 2030, up to 24% of jobs in the U.S. held by women will need to transition into new jobs/roles due to automation or partial automation. <5>
2.  20% potential job loss for women globally by 2030 as work becomes more technology-driven and automated. <5>

Unfortunately, there aren’t many reports or studies that focus on what the future holds for women in the workplace or business. But what is undeniable is the need for women to support one another and continue to pave the road for themselves. The path women create today can help clear the way and guide young women behind them.

The Final Takeaway- International Women’s Day Statistics

By providing 17 vital facts about women in the workplace and as business owners, I hope these statistics added more enthusiasm and support for International Women’s Day. As a previous corporate manager now turned business owner, I know how little acknowledgment women receive (or give ourselves) of the positive impact women have made for businesses and the economy.

One day to remind us how critical women are in a company’s organization or the jobs they create from their business is just not enough.

In order to close the gender gap between women and men will take all of us, not just women, to support each other. Eliminating the economic disparity isn’t only a victory for women but a win for families and communities. 

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Sources:

1. A 2021 study, “Women in the Workplace,” conducted by Leanin.org and Mckinsey, surveyed 65,000 people. The responses indicated that women managers over men showed more support or took action in response during the height of the pandemic. PDF
2. Women in Leadership study by KPMG
3. State of Women-Owned Businesses Report by American Express
4. Fortune 500 Female CEO_2021– Statista
5. The Future of Women and Work report by Mckinsey Global International (MGI)