Women earn over 57% of all undergraduate degrees, yet they make up just 27.6% of all CEO positions in the US. Although 2020 was the year with the most female CEOs nominated for the Fortune 500 list, only 37 women were nominated, which makes up around 7.4% of the ranked businesses. Seeing the numbers go in the right direction is encouraging, but significant work remains for woman-owned businesses.
According to a study conducted by S&P Global Market Intelligence, companies with female CEOs or CFOs tend to be more profitable and have better stock opportunities. If that’s true, then why are so few women being nominated for their leadership skills in executive positions? Unfortunately, this leadership discrepancy often ties back to the gender stereotypes and social norms that “men take charge” while “women take care.” MarketWatch says that these stereotypes are taught as children and many people carry these beliefs into the workplace with them. This bias unknowingly makes it more difficult for women to get appointed to senior management or C-suite positions.
Overall, there are more men than women in leadership roles, and in male dominated fields, these numbers are even more drastic. Women make up only 12% of executives in the leading telecommunications companies. In addition, only 8 women were nominated for the 2020 Capacity Power 100 list, which means that only 8% of those considered most influential in the wholesale telecommunications industry were women.
HNM Systems is proud to be a woman-owned business. Heather Moyer is the Founder, CEO, and President of HNM Systems and has built a business over the last decade that has been recognized in Inc 5000’s fastest growing private companies for two years in a row. In 2020, Heather’s leadership was also publicly recognized by the San Diego Business Journal through her selection as finalist for CEO of the Year and Business Women of the Year.
As a female college student pursuing a degree in business, I have been incredibly inspired to intern for a company that is run by a successful businesswoman, especially in an industry where women leaders are few and far between. Much work remains to be done in our society, but seeing this real-life example gives me hope that as I enter the business world, more women will be recognized for their efforts as leaders and mentors.