Report: Women hold majority of C-suite communications roles
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Women hold the majority of chief communication roles within the Fortune 500, according to new industry research from Patino Associates.
Why it matters: This is a demographic diversity not seen in other C-suite positions.
By the numbers: 66% of CCOs at Fortune 500 companies are women, compared to 10.4% of CEOs and 18.5% of chief financial officers.
Zoom in: Women are most likely to hold the top communications role in the health care industry (83%) and least likely in the energy sector (52%).
- Women also dominate in tech (70%), industrial (69%), financial services (65%) and consumer (63%) roles.
The big picture: 3 in 4 women are currently employed, according to the Bureau of Labor Statistics, which is a record high.
- Yes, but: Women still earn around 16% less than men and women continually report being less satisfied in their jobs than men.
- This is due in part to a lack of upward mobility, company bonus structure and health benefits, according to research from the Conference Board.
Reality check: While it's promising to see women holding the most prominent communication roles within corporate America, these roles do not always have the same influence as others in the C-suite.
- The recent slew of geopolitical and economic issues, cultural landmines and corporate crises have elevated the role of communications, but in some instances it is still classified as a "soft skill" or viewed as an "administrative" function.
What they're saying: "More and more women are entering the C-suite as CCOs because in larger measure they inherently excel with the required "social skills" [like] the ability to listen, communicate and convene diverse groups of people toward achieving shared goals," Zeno Group Global CEO Barby Siegel told Axios.
- It's also due to their ability to multitask, manage diverse stakeholders and navigate complexities with compassion, says Shelley Zalis, founder and CEO of The Female Quotient.
- "Yet, the disparity in other C-suite roles underscores the need for continued advocacy and opportunity, ensuring diverse leadership that reflects the richness of talent and perspective women bring to the table," she added.
Go deeper: Women's employment hits new record high
