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The New York Times recently published a few intriguing articles about women that I wanted to share with you.

Women are working in the financial industry in fewer numbers these days, despite more than 20 years of increased hiring and promoting, according to the article “Where Are the Women on Wall Street?” What is responsible for this decline? As The Times notes, fewer female graduates are seeking careers in the financial industry and women are abandoning the industry faster than men. And when women are laid off from a financial job, it’s harder for them to return to the industry because they face an environment that’s more hostile to women than men. While this is disappointing news, The Times adds, on a positive note, that women continue to maintain "a strong presence in some areas in finance, including wealth management."

Although there are fewer women on Wall Street, they have gained ground against men in the workforce overall. As the article “Women Now a Majority in American Workplaces” reports, women now outnumber men on the nation’s payrolls. Becoming the majority of the workforce is a milestone for women. But it’s hard to ignore that this exciting achievement is due to the recession hitting men harder than women. The Times points out that men tend to work in economically vulnerable industries – manufacturing and construction – while women tend to work in more stable industries – government, health, and education.

Finally, the article “Getting Women Into Boardrooms, By Law” reports that Norway, Spain and the Netherlands have passed laws that will place quotas on corporations that mandate the number of women they must have in top-level positions, with a 2015 deadline for compliance. The Times notes that other European countries are considering similar legislation.

The issue of imposing quotas is controversial. On the one hand, as a general proposition, some consider the imposition of quotas to ensure diversity is viewed as laudable and to others it is viewed as undermining what women have accomplished in terms of gender (particularly, women’s) equality over the past three decades. Some observers cite quotas as tantamount to so-called "reverse discrimination." On the other hand, quotas can remediate “systemic discrimination.” In the US, quotas, as a general matter, must be judicially sanctioned, whereas "goals or targets" are invariably linked to a good faith effort that stops short of discriminating against others. Thus, while quotas are implemented under limited and particular circumstances, corporations do set targets and goals to ensure diversity in their workplaces.

Which of the three articles above interests you the most and why?

The Wall Street Journal recently featured an interesting article entitled "Women Leaders by the Numbers," which highlights the progress that women have made in business and politics, as well as the barriers to advancement they continue to face. 

The good news is that women leaders are making a positive impact. The article points out that the next session of Congress will include more women Senators and Representatives than ever before. Also, research reveals that the public seems increasingly comfortable with the idea of a woman leader in 19 key jobs. Women-owned businesses are growing faster than other U.S. firms, and Fortune 500 companies with the most women leaders experience a financial advantage--that is, "a 35% higher return on equity and a 34% higher total return to shareholders than those with the least number of women." 

The bad news is that only 20 percent of the top leadership roles are held by women. It's rare to find a woman CEO at a Fortune 500 company. Studies show that the public still perceives men to be better leaders at jobs requiring assertiveness and forcefulness. Because women are not properly represented in most traditionally male-dominated industries, that perception is unlikely to change anytime soon.

The article ends on a high note, by indicating that our struggling economy may give women more chances to lead. Because women are "good consensus leaders" and "good team leaders," they may be better suited than men to help their companies stay afloat during the maelstrom created by the recession. 

I highly recommend that you read "Women Leaders by the Numbers" and tell us your thoughts. Are more women obtaining leadership roles at your company?

At my law firm, EpsteinBeckerGreen, there has been a concerted effort to create more women leaders. Our women's initiative provides training and opportunities to enhance business development and leadership skills. I'm pleased to report that two of the five core practice steering committees at my firm are now led by women.