Women in leadership are switching jobs at higher rates than have ever been seen before, according to the 2022 "Women in the Workplace" study from consulting firm McKinsey & Co.
The data came from 40,000 surveyed individuals across 333 companies.
Of the companies surveyed, women made up only 26 percent of the C-suite; up from 20 percent in 2017. Women of color made up only 5 percent of the C-suite at the surveyed companies in 2022.
There are a few main problems that cause women to leave executive roles at companies at higher rates than men, according to the report.
First, women are not as likely to get promoted to senior leadership, making them more likely to seek opportunity elsewhere. For every 100 men who are promoted, only 87 women are. Female leaders want to advance, but they face higher barriers to entry.
Second, female leaders are often overworked and underappreciated, causing them to burn out faster than male leaders. Forty-three percent of female leaders are burnt out, compared to only 31 percent of male leaders.
Third, female leaders are seeking a different style of work culture that prioritizes equity, employee well-being and flexibility.