For the first time in US history, women now make up a larger percentage of the working population than men. Just as significantly, research has consistently demonstrated that having women in top management positions correlates with financial success for organizations. The need to keep women in those top positions is not only relevant during an economic downturn, but essential to continued organizational success.
Given these facts, organizations now need to pay even more attention to what women at work are thinking, and how they have been affected by the recession, downsizings, furloughs, and general malaise. Data from CCL’s World Leadership Study (WLS) suggest that, overall, women are less trusting of their bosses than men. Indeed, the effect of the recent recession on trust seems to have been more profound for women than for men. Data were collected from the beginning of 2008, just as the recession was taking effect, to the present, just as the US economy is showing some signs of recovery.