Advancing Progress Toward Gender Equality
March 13, 2025 – Six years ago, Jessica Pezim of The Bedford Group began reflecting on International Women’s Day by writing letters to her children about the progress women have made in the workforce since her mother’s generation – and her hopes for the future when they enter the workforce. “While I believe gender equality is achievable, the past few years have brought both progress and challenges,” Ms. Pezim said. According to McKinsey’s 2024 Women in the Workplace Report, women’s representation has increased at every level of corporate management over the past decade. Today, they hold 29 percent of C-suite positions, compared with just 17 percent in 2015. In Canada, women now occupy 29 percent of board seats among issuers – up from 11 percent a decade ago–and 72 percent of issuers have at least one female executive officer.
“Despite these meaningful, albeit modest gains, women remain underrepresented across the corporate pipeline,” Ms. Pezim said. “Simply put, men continue to outnumber women at every level. Additionally, the pandemic disproportionately impacted women’s careers, geopolitical events have widened inequities and systemic barriers persist in organizations worldwide.”
Earlier this year, Ms. Pezim points to how the U.S. federal policies took a sharp turn, with executive orders dismantling diversity, equity, and inclusion (DEI) programs. This shift has had a polarizing effect in the market, prompting several major organizations to scale back their DEI initiatives. Companies such as Google, Target, Meta, Amazon, McDonald’s, GSK, Walmart, Ford, BlackRock and recently, Shopify have either dropped, paused or pulled back their DEI policies. Even State Street, once known for its sponsorship of the “Fearless Girl” statue advocating for gender diversity, has removed its targets for female and minority board representation as of March, 2025.
Conversely, organizations like Apple, Costco, Goldman Sachs, JP Morgan, AstraZeneca and Cisco have reinforced their commitment to DEI, demonstrating that the corporate landscape remains deeply divided. “These companies continue to invest in inclusive hiring, leadership development programs for underrepresented groups and supplier diversity initiatives,” said Ms. Pezim.
The business case for diversity is well established – reports from Boston Consulting Group and McKinsey suggest that companies with diverse leadership teams are 39 percent more likely to outperform their peers – a statistic that is consistent across industries. Further, an analysis of thousands of 360-degree reviews by the Harvard Business Review shows that women consistently score higher than men in 17 of 19 key leadership capabilities, including emotional intelligence, resilience and collaboration – all of which are critical for strong leadership and business success. “But despite all this, systemic barriers continue to hinder progress,” said Ms. Pezim. For women, the “broken rung” in leadership pipelines remains a persistent barrier, with only 87 women promoted to management for every 100 men. Ms. Pezim explains that the divide in corporate approaches to DEI highlights an ongoing tension between economic, social and political pressures shaping the modern workplace, and is placing added pressure on women to prove or ‘re-prove’ themselves.
The result? “Accomplished women are now under more scrutiny than ever—not because they are any less qualified, but because the conversation around who deserves a seat at the table is shifting,” Ms. Pezim said. The merit of women and other historically underrepresented groups in leadership is being questioned in ways it hasn’t been in years.
This year’s International Women’s Day theme, “Accelerate Action,” highlights the urgent need to make faster, more effective strides towards gender equality. Incremental progress is no longer enough – according to the World Economic Forum, at the current rate of progress, it will take until 2158 to achieve full gender parity – roughly five generations from now. “This stark reality underscores the need for immediate and sustained efforts to drive meaningful change,” Ms. Pezim said.
Jessica Pezim has recently joined Bedford as a principal consultant. Prior to joining Bedford, she worked at Canadian Imperial Bank of Commerce in Human Resources focusing on talent. Ms. Pezim was most recently a director in the executive talent management group where she supported capital markets, commercial banking and wealth.
“Now is the time to challenge the status quo, implement bold measures and drive meaningful change for women in workplaces and beyond,” said Ms. Pezim. “Structural changes are critical, but women must also be their own catalysts for change. In the past, I have focused on how organizations can support women in achieving these goals, but we can no longer afford to wait for companies to take the lead.” Women must assert their worth in the workplace – because as Margie Warrell so aptly put it, “The fate of DEI programs does not define our worth – we do.” Ms. Pezim offers three ways women can accelerate action towards gender equality.
1. Own Your Worth: Embrace Authentic Leadership.
“Owning your worth begins with embracing authentic leadership – leading in a way that aligns with your values and strengths rather than conforming to outdated expectations,” Ms. Pezim said. “Too often, women discount their own contributions, attributing success to luck or team efforts, even when their results speak for themselves. But leadership isn’t about fitting a mold; it’s about using your unique perspective to drive impact.” Research consistently shows that authentic leadership—rooted in personal integrity and self-awareness—builds trust, improves productivity, fosters innovation and strengthens teams. As Jane Fraser, CEO of Citigroup aptly states: “I lead with humility and humanity. That’s how I build trust. That’s how I get results.”
“Our differences are our greatest asset; when women recognize and own their value, they don’t just succeed—they redefine leadership on their own terms,” Ms. Pezim said.
2. Build Strategic Networks.
Building strategic networks is one of the most effective ways women can accelerate progress toward gender equality in the workplace, according to Ms. Pezim. “Building relationships with mentors, sponsors and peers isn’t just about career advancement – it’s about increasing visibility, access and influence,” she said. Research consistently shows that networking is not only a key driver in achieving individual career milestones, but also contributes to broader organizational success. For instance, a McKinsey report found that over 80 percent of women in executive roles credited networking as instrumental in securing board positions, C-suite roles and higher-paying opportunities. “A strong professional network is more than just a support system—it’s a powerful driver of career growth,” Ms. Pezim said. “One of the most impactful ways women can leverage their networks is by engaging with mentors and sponsors who can help open doors, provide guidance, and champion their success.”
Related: Women’s Representation in the C-Suites Declines as Gender Parity Remains Elusive
Mentors provide guidance and support, helping women navigate challenges and build confidence, while sponsors take it a step further–using their influence to advocate for promotions and leadership opportunities. Sponsorship can be a game-changer in closing gender gaps in leadership by ensuring women are positioned for key roles and accelerating systemic change in executive leadership. And research backs this up – a global survey of businesswomen found that among those who had a mentor, 71 percent said their mentor was influential in their career advancement. Additionally, a Catalyst report found that women with mentors were promoted five times more often than those without. Yet, despite this clear advantage, a Gallup study found that only 40 percent of employees report having a mentor, with sponsorship rates even lower at 23 percent. “This gap highlights the urgent need for women to be intentional about building their own networks, seeking out mentors and sponsors who will advocate for their growth and creating opportunities for the next generation of leaders,” said Ms. Pezim.
Is Your Organization Driving Away Top Female Talent? Learn How to Retain Them
Companies risk losing top female leaders at an alarming rate, often due to workplace policies that unintentionally push them out. Sheffield Haworth has identified key factors behind this trend, including limited career advancement, microaggressions, and burnout from unrecognized DEI efforts. Let’s take a closer look!
Strategic networking is an incredibly powerful career tool, but to be successful, you must be intentional about the way you network. When done right, strategic networking helps women identify role models, gain access to influential mentors and sponsors, expand business opportunities and pay it forward by supporting the next generation of female leaders. “By cultivating strong, strategic networks and relationships, women gain access to the right rooms, the right conversations and the right opportunities – creating lasting impact for themselves and future generations,” Ms. Pezim said.
3. Pursue Continuous Development
Ms. Pezim also explains that pursuing continuous development is one of the most powerful ways women can accelerate progress toward gender equality in the workplace. But self-doubt or imposter syndrome is a common obstacle for women – research shows that women often hesitate to apply for new roles unless they meet 100 percent of the qualifications, whereas men apply when they meet just 60 percent. Further, women are also more likely to attribute success to luck or external factors, whereas men credit their own abilities. Ms. Pezim notes that this hesitation can hold women back from key leadership opportunities.
Embracing stretch roles, taking on challenges beyond current expertise, is a critical way to break this pattern. According to McKinsey’s Women in the Workplace report, women who step into high-visibility projects and leadership roles before they feel fully ready are more likely to advance into senior positions. As Amy Hood, CFO at Microsoft, stated: “Every job I took, I was deeply uncomfortable in terms of feeling unqualified. Every step, every risk I took, built confidence.” Because if you already knew exactly how to do a job on day one, it wouldn’t be a challenge worth taking. “The best opportunities are the ones that push you beyond what feels comfortable – if it’s not stretching you, it’s not helping you grow,” Ms. Pezim said. “This underscores the importance of pushing past self-doubt and embracing discomfort as a catalyst for growth. Additionally, continuous learning–whether through executive education, mentorship or industry certifications– ensures women stay ahead of evolving industry demands and positioned for growth.”
“Achieving gender equality in the workplace isn’t just about incremental change–it requires bold action, strategic advocacy and an unwavering commitment to progress,” said Ms. Pezim. “While systemic barriers persist, women must take control of their own career trajectories by owning their worth, building strategic networks and embracing continuous development. These actions don’t just drive individual success; they help reshape leadership, creating more inclusive and equitable workplaces for future generations.”
“Women in leadership have never had the luxury of waiting for an even playing field or for things to be fair. But we do have the power to decide how we show up, regardless of what is trending around us,” Ms. Pezim said. “The challenges we face are real, but so is our ability to rise above them. Progress is not inevitable – it requires us to be intentional, to challenge outdated norms and to redefine leadership on our own terms. The path to gender equality is long, but it is not insurmountable. We must accelerate action, push beyond comfort zones and demand more from ourselves and the organizations we serve. If we do, I am hopeful that by the time my children enter the workforce, equality won’t be a conversation–it will be the norm. The time for waiting has passed. The time for action is now.”
Related: Executive Women Making Progress Closing Pay Gap
Contributed by Scott A. Scanlon, Editor-in-Chief and Dale M. Zupsansky, Executive Editor – Hunt Scanlon Media
