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Fashion Law Blog An Interactive Discussion on the Business of Fashion

What Corporate America Can Learn from the Fashion Industry

Posted in The Business of Fashion

Recently, the WSJ argued that Mckinsey & Company’s report, "Women in the Economy" [PDF] found that women can’t crack the glass ceiling because of lack of coaching and mentorship. 

Respectfully, I found the WSJ article, "Coaching Urged for Women" offensive, and poorly titled to mischaracterized the study’s result.

Here’s what the McKinsey & Company report really said:

As women approach their 40′s they begin to realize that barriers to cracking "the upper echelons of corporate America," become insurmountable, especially for working mothers.

McKinsey gave Corporate America a call to action: 

businesses must work harder to change the mind-sets limiting women’s opportunities, such as the popular notion that a woman can’t juggle certain jobs and family duties.

Our evidence points to the need for systemic, organizational change. Companies that aspire to achieve sustained gender balance must choose to transform their cultures.

The competitive and economic advantage from retaining the best talent should be a powerful enough reason to make management take steps need to dislodge entrenched beliefs that prevail.

 

Wow.  How did the WSJ equate ending outdated, discriminatory beliefs with the need for coaching and mentorship? 

The leaders of corporate America need to take a page out of the Fashion Industry’s play book and learn to understand #thejuggle

 

 

Related Posts:

Forbes article, "Women Hold Just 1 in 10 Top Paid Executive Positions in S&P 100 Companies."

Related study: Examining the Cracks in the Ceiling: A Survey of Corporate Diversity Practices of the S&P 100, (click here to download in PDF format):

 

 

Maybe then we’ll see these statics change.

 

 

Again, women’s failure to break through the ceiling is blamed on women and the cause of the problem is ignored.  Bravo.