Report Finds Nearly Half of Women Executives in Revenue-Generating Roles Are Considering Quitting
Women in Revenue (WIR), a nonprofit created to empower and elevate women in sales, marketing and customer success careers, announced the results of its annual survey to uncover the top issues facing women in business. The report, “The Great Renegotiation: The Definitive 2022 State of Women in Revenue" (pdf), surveyed nearly 2,400 women in revenue-generating roles. The survey found that more than 38 percent of all women and 49 percent of executive women considered quitting their job in 2021. Eight percent of women in revenue overall, and more than 15 percent in the technology industry actually did quit in 2021. The report dives into what’s driving this re-evaluation of work for women, what they’re looking for, and how companies can keep or hire these essential executives and future leaders.
Unsurprisingly, compensation was listed as the number one challenge among respondents, and it’s no wonder, since pay equity is a critical issue. According to the report, 17 percent of women said they were positive they were not being paid the same as their male counterparts, and 41 percent said they had no idea.
“These statistics should be alarming to any company,” said Deanna Ransom, Executive Director of Women in Revenue. “When 50 percent of your female leadership isn’t happy you need to take a close look internally. Marketing, sales, and customer success are the lifeblood of companies. We’re bringing customers in the door and closing the deals. Women aren’t being paid what they’re worth. They need equal pay, pay transparency and mentorship to trust that they’re valued, heard and have a clear career path. Otherwise, in this market they’re going to walk, take another offer or possibly strike out on their own.”
Among respondents, pay transparency rose dramatically in importance. This year, 52 percent said transparent compensation information is the most important consideration when evaluating a job offer. This number more than doubled from 2021, when it was just 21 percent. The report states that compensation transparency goes beyond just pure salary dollars and into knowing one’s worth and being equipped to effectively negotiate an equitable compensation package.
One respondent said, “I discovered I wasn’t being paid anything close to market rate. Went to another company and got 65 percent more!”
Compensation isn’t everything. The report offered some data for companies looking to hire and retain women in revenue roles. According to the report, the benefits most important to women in revenue when considering a job offer were:
- Transparent compensation
- Work from home option (once offices safely reopen)
- Flexible work hours
- Top health care
- Ongoing training/education
- Retirement program
Beyond benefits and pay, women need to feel safe to be successful. The report also examined how sexual harassment affects women in revenue, and found that it affects some women more than others, rising to a top 3 issue when filtered by demographics and job roles. One quarter of women in professional services and revenue operations roles listed sexual harassment as one of their top three challenges. In addition, women of color listed sexual harassment as a top challenge in higher percentages. Based on recent data, this means that the same women who are most impacted by harassment are also the ones facing the most inequitable pay.
The report provides companies with actionable suggestions to move beyond conversation and start making change for women in the workplace. For more information, download the report.
The preceding press release was provided by a company unaffiliated with NonProfit PRO. The views expressed within do not directly reflect the thoughts or opinions of the staff of NonProfit PRO.