Study Offers Gender Parity Comparisons with Other Industries
The Healthcare Businesswomen’s Association (HBA) points to a recently published paper that reports how the healthcare sector favorably stacks up on workplace gender equality issues compared to other industries. The data from the annual McKinsey Women in the Workplace study offers a deeper dive on how women fare on compensation, promotion rates and positions compared to peers in other industry segments. Overall, the news is favorable for women in the business of healthcare—including those working in pharma, medical devices and biotech.
Healthcare executives and members of the HBA’s Gender Parity Collaborative were among the more than 10,000 healthcare employees and leaders interviewed for the study. Established in 2018, the Collaborative convenes industry senior executives to work collectively to address the systemic changes needed to accelerate the pace of gender parity in the workplace.
Key takeaways from the report include:
- Over 60 percent of employees entering the healthcare industry are women
- Healthcare draws 50 percent of STEM graduates
- Rates of promotion are higher with healthcare outperforming almost all other sectors in first critical promotion step for entry level to manager
- Women are better represented in healthcare at all levels than in corporate America overall:
- 42 percent of VP roles compared to 29 percent
- 31 percent of senior VP roles compared to 23 percent
- 30 percent of C-suite roles compared to 22 percent
- Women in healthcare reported receiving more of what they requested in compensation negotiations more often than men did
While the data is comparatively favorable, the Gender Parity Collaborative and the HBA recognize significant gender gaps still exist and are working on environmental solutions that will help to move organizations—and their female workforce—further, faster.
“We are proud of the gains but realize there are still many barriers to remove before we reach true gender parity. Data is a part of the solution that can inform our course of action and impactful solutions moving forward. Thanks to McKinsey & Company for producing such a comprehensive report and we are proud to have made a contribution,” said Laurie Cooke, president and CEO, HBA.
You can read the full Women in the Healthcare Industry report here.
The HBA’s Gender Parity Collaborative is a unique consortium of healthcare and life-sciences companies dedicated to accelerating gender parity by fostering and adopting systemic changes in our workplace. Together, the Collaborative’s 16 member companies commit to take an active role in defining strategies, measuring performance, creating impactful change and inspiring others.
The Healthcare Businesswomen’s Association (HBA) is a global not-for-profit organization dedicated to furthering the advancement and impact of women in the business of healthcare. With more than 55 locations throughout the U.S., Canada, and Europe, the HBA serves a community of nearly 50,000 individuals and 144 Corporate Partners. The HBA provides networking forums to build relationships; knowledge sharing and access to thought leaders to broaden perspective; educational programs to develop leadership skills and high-profile industry recognition of outstanding women and companies to promote visibility of their achievements.