Breaking the Glass Ceiling in Corporate America Research Paper

Breaking the Glass Ceiling in Corporate America - Research Paper Example Also, in Fortune 500 companies only 15 women are present in leadership positions. Black CEOs are even fewer in number, while Hispanics and Blacks constitute 5 to 10% of a renowned law firm’s associates of first year. They also account for only 2% of such firms as partners (Gilgoff 2009). A lot of employers are working to alter these statistics. They are working together with retirement specialists of minority groups who offer help in improving minority professionals to hold leadership positions. Also, prominent business schools are doing the same by including more minorities in leadership positions. A lot more employers in the private and public sectors are coming up with internal strategies to get minorities into senior positions. Within four years, the number of companies that apply to be in the annual magazine, Diversity Inc. ‘Top 50 Companies for Diversity’ column has tripled to over 400. This magazine requires that the minority groups are represented; in orde r, for a company to be considered in the rankings. Also, a lot of companies have come to the realization that minority representation is necessary for any profit making organization. This means that companies working to narrow the gap of minority leaders are not doing so as an act of social justice; rather, they want to improve their rankings (Gilgoff, 2009). It is a challenge to any company to try and maintain a workforce that is diverse. A report compiled recently by the Korn/Ferry International recruiting firm established that U.S. companies are losing $64 billion annually by replacing employees that they lose due to diversity management failing. Also, shortage of leaders in minority groups is presenting... A lot of employers are working to alter these statistics. They are working together with retirement specialists of minority groups who offer help in improving minority professionals to hold leadership positions. Also, prominent business schools are doing the same by including more minorities in leadership positions.   A lot more employers in the private and public sectors are coming up with internal strategies to get minorities into senior positions.   Within four years, the number of companies that apply to be in the annual magazine, Diversity Inc. ‘Top 50 Companies for Diversity’ column has tripled to over 400. This magazine requires that the minority groups are represented; in order, for a company to be considered in the rankings. Also, a lot of companies have come to the realization that minority representation is necessary for any profit making organization. This means that companies working to narrow the gap of minority leaders are not doing so as an act of soc ial justice; rather, they want to improve their rankings (Gilgoff, 2009).It is a challenge to any company to try and maintain a workforce that is diverse. A report compiled recently by the Korn/Ferry International recruiting firm established that U.S. companies are losing $64 billion annually by replacing employees that they lose due to diversity management failing. Also, shortage of leaders in minority groups is presenting great challenges. Minority employees are against working in companies that top jobs seen to be off limits (Gilgoff, 2009).