The Future is Now - 37 Fascinating Chatbot Statistics

The Future is Now - 37 Fascinating Chatbot Statistics
ByDanica Jovic
November 20,2020

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Chatbots have taken the customer service and real estate industries by storm, but that’s just the start of the story. Experts predict 90% of customer interaction in banks will be automated by 2022. 

And despite what you might think, that could be a good thing. Customers like chatbots; more than half of internet users are satisfied with them and around 60% of millennials already use them regularly to purchase basic goods. 

We’ve compiled some stats to show why eCommerce and chatbots are a match made in heaven.

Chatbot Statistics - Editor’s Choice

  • Chatbots can cut operational costs by up to 30%.
  • 85% of customer interaction will be handled without human agents by 2021.
  • 50% of businesses plan to spend more on chatbots than on mobile apps. 
  • 64% of internet users say 24-hour service is the best feature of chatbots.
  • 37% of people use a customer service bot to get a quick answer in an emergency.
  • There were over 300,000 chatbots on Facebook in 2018.
  • Blue-Bot sent two million messages to more than 500,000 customers in 2018.

Chatbot Usage and Artificial Intelligence

Today, 27% of consumers are interested in artificial intelligence support tools.

(Tidio)

The idea of using human language in communication with machines arose in the early ‘50s. However, at that time, people could not yet imagine the machines that could actually react or work like humans. In the past few decades, though, things have changed significantly. People still have unrealistic expectations about artificial intelligence, but we can say that humanity has moved a step closer to interacting with machines. Today, AI technology is used to provide virtual assistance in a range of different industries, including healthcare, business, education, and finance.

1.4 billion people are using chatbots.

(Acquire)

The advancement of AI has provided humanity with a stack of useful tools and resources. Chatbot growth has been prominent across a number of industries, to the point where 1.4 billion people now use them on a fairly regular basis. So, we might have a new answer to the question: What are chatbots? More than ever, they’re the way companies help customers ask questions or resolve problems quickly and easily.

Chatbots can answer 80% of standard questions.

(IBM)

Chatbot market statistics show that one of the reasons this technology is becoming more and more popular is that chatbots can answer most questions users might throw at them. It’s still important to have some trained customer support professionals for more complicated questions. But for everyday issues, a chatbot service reduces costs and speeds up response time. This allows customer service agents to work on more challenging tasks and take a big-picture approach.

In 2017, 34% of consumers preferred to communicate with artificial intelligence in an online retail situation.

(Statista)

Why? Because consumers like to get the information they’re asking for immediately. Bots are the best at providing fast and reliable service; they’re always on and they’re programmed to answer the most common questions immediately, which gives them an advantage over email or social media.

Chatbot Customer Service Statistics

67% of customers used chatbots in the past year.

(Invesp)

With two-thirds of customers having used chatbots in the past year, this technology has become mainstream. We live fast, online lives that are dominated by our phones and tablets. For the most part, that works in our favor. But sometimes we need help, and we need it as quickly as possible. This is when chatbot customer support steps in. Chatbot statistics for 2019 show that people are adjusting well to automated support.

64% of internet users say 24-hour service is the best feature of chatbots.

(Drift)

Why do we love chatbots? First, we like their quick response and prompt service. Second, we want answers at any time of the day and we enjoy their accessibility. This is why chatbots are so popular. As many as 64% of internet users see round-the-clock support as the biggest benefit, according to the newest chatbot industry statistics provided by Drift.

37% of people use a customer service bot to get a quick answer in emergencies.

(Drift)

Among customers who use chatbots, 37% use them for getting answers in case of an emergency. It’s also interesting to note that 35% use chatbots to resolve problem and the same percentage do so to get detailed answers or explanations.

55% of people who use chatbots would expect them to provide instant responses and answers to simple questions.

(Drift)

Customer service trends show that chatbots' benefits are numerous and customers are aware of this. Indeed, using a customer support chatbot gets you instant answers and asks you short, direct follow-up questions that are easy to understand. For speed and convenience, chatbots provide the perfect solution.

Chatbot Implementation Statistics

The first chatbot, ELIZA, was created in 1966.

(PSS)

ELIZA was created by Joseph Weizenbaum. Although this first-ever bot failed the relevant tests, it blazed a trail for the development of chatbots in the future. Today, we can make use of sophisticated chatbots, which have gained enormous popularity over the past couple of years due to the great service they provide

The top five countries in terms of chatbot use are the USA, India, Germany, the UK, and Brazil.

(Chatbots Life)

As we’d expect, the US is home to the largest portion of the world’s chatbot users (36%), followed by India (11%). Germany came in third place (4%) - it’s the highest-ranked non-English-speaking country on the list. The United Kingdom (3%) and Brazil (2%) have almost the same number of chatbot users.

It's estimated that nearly a quarter of the world’s population was using chatbots by the end of 2019.

(Chatbots Magazine)

How many people are going to use chatbots in the future? Well, according to these chatbot statistics, by the end of the year, almost a quarter of the global population will be using some kind of chatbot support on a daily basis.

The real estate industry is the most profitable field for chatbots.

(Chatbots Magazine)

More than 28% of real estate business now use chatbots. That makes sense; this is the industry that profits the most from chatbot usage. Why? Because agents have realized that chatbots can do most of the everyday work real employees used to do. This saves time, resources, and ultimately money. If you are in this industry, setting up a real estate chatbot is a must. Remember, chatbot companies offer specific services that are specially designed for real estate purposes.

$5 billion will be invested in chatbots by 2021.

(Chatbots Magazine)

The chatbot market is growing fast. We already have millions of chatbots operating through various industries, which is why investing in chatbots could be a very good move. More and more companies are using chatbots to provide their customers with better, faster service. We’ve already mentioned the real estate industry, but did you know the travel industry also benefits extensively from chatbots? This is because chatbots are actually very useful in filtering and speeding up the process of booking, as chatbot statistics for 2019 prove.

Interest in chatbots increased by 160% in 2018.

(Gartner)

Clients were more interested in implementing chatbots in 2018 than in any previous year. You can see the change for yourself; just browse through any good company’s website and pay attention to the customer service options. Today, companies both large and small are investing resources into customer experience and support. Aside from cutting costs, all these companies are trying to automate the work process and enable around-the-clock customer service.

Statistics on Customer Service and Chatbots

53% of service organizations are going to use chatbots within the next 18 months.

(SalesForce)

Customer service organizations are using chatbots more and more every day. This technology helps identify issues, then solve them promptly without human assistance. A growth rate of 136% was predicted for 2019, proving that chatbots will have an even bigger role in the near future.

58% of users say chatbots have changed their expectations of customer service.

(SalesForce)

Chatbots have changed customers’ experience for good. Consumers have certain expectations when it comes to AI, but according to the latest research, most say chatbots have positively affected their user experience.

46% of users would prefer to communicate with a live person instead of chatbot.

(Tidio)

If we look at customer service stats, we can conclude that customers are still more likely to opt for a conversation with a real person. Although a chatbot can save them a lot of time, almost half of the internet users in the US say they would rather receive support from a live person, according to Chatbots Magazine. However, 40% of consumers are fine with both; they don’t care if they get help from a real human or chatbot, as long as they get help, according to HubSpot chatbot statistics.

64% of agents who use chatbots are free to spend their time solving more difficult and complex problems.

(SalesForce)

With the help of AI chatbots, 64% of agents can work on resolving complex problems. In comparison, only 50% of agents without chatbots have the same luxury.

16% of Americans have used channels like Alexa or Google Home chatbot for shopping.

(Chatbots Magazine)

Customers use chatbots for a range of purposes: to get information, pay bills, or get assistance. Shopping is also at the top of the list. After all, nearly 16% of Americans own smart speakers. Chatbot customer service trends for next year predict that around 15% of people will use Amazon Alexa, while 16% plan to use some other type of voice-controlled chatbot tool.

Predictions About the Future of Chatbots

Chatbots can cut operational costs by up to 30%.

(Chatbots Life)

eCommerce chatbot statistics show that businesses spend around $1.3 trillion on customer requests per year. With the assistance of chatbots, this expense could be reduced by 30%.

Bank systems will automate up to 90% of customer interactions using chatbots by 2022.

(Chatbots Magazine)

Almost 40% of major companies with more than 500 people are going to implement at least one intelligent assistant or AI-based chat robot in 2019. By the end of 2020, 80% of entrepreneurs will use chatbots.

85% of customer interactions will be handled without human agents by 2021.

(Chatbots Life)

Chatbots will change the world, that is for sure. No matter whether or not we prefer talking to agents, in the future we will be forced to rely on chatbot support. Chatbot statistics in this Gartner report predict that 85% of customer interactions will be managed without humans by 2021. This is good news. Consumers will get answers instantly, companies will reduce costs, and agents can spend their time solving more important issues.

Companies will save 2.5 billion customer service hours using chatbots by the end of 2023.

(Chatbots Life)

One of the main goals of the companies that implement chatbots is to reduce customer service work time. According to Juniper's research, the introduction of chatbots will save 2.5 billion customer service hours over the coming years. The customer service cost reduction across the retail, banking, and healthcare sectors is estimated to amount to $11 billion annually by 2023.

Statistics About Chatbots in Business

By the end of 2020, 80% of entrepreneurs will use chatbots.

(Chatbots Magazine) (SiteVisibility)

Chatbots have become one of the most useful tools for marketers, and it’s safe to say that by the end of 2020, they will dominate the customer service field. Well, we already know that chatbots save time and money, and users of all ages and groups like them. Why? Because many users are more comfortable chatting online than talking with human agents or waiting too long to get the answers they need. Statistics on chatbot marketing show that 56% of people would rather message than call customer service.

50% of businesses plan to spend more on chatbots than on mobile apps.

(Chatbots Life)

Are chatbots going to replace mobile apps? According to Gartner’s report, many companies are prioritizing implementing chatbots over mobile apps. Chatbots have become more reliable and effective due to technological advances, as chatbot engagement statistics point out. As such, people have become more and more interested in chatbots, leaving mobile apps behind. Of course, this doesn’t mean that chatbots will replace mobile apps for good. It simply means that for getting quick service, people will look to chatbots first.

Companies with between one and 50 employees use chatbots more than others.

(Think Relay)

If you’re working in a company that has more than 250 employees, it’s less likely that your company will enjoy these benefits; mid-market companies usually don’t deploy chatbots. However, chatbot use statistics show us an interesting trend about smaller businesses. It seems nearly 40% of companies that have between one and 10 employees use chatbots, making them the most-frequent users.

Only 0.5% of B2B companies use chatbots.

(Think Relay)

B2B companies are not into chatbot services. As many as 99.5% of these companies didn’t deploy chatbots in 2018. And what are the consequences? Well, some research has shown that it’s important to make B2B sales friendlier. These companies tend to deploy conversational marketing strategies to move buyers through sales funnels using the advantages of real-time conversations.

Chatbot User Statistics

Approximately 40% of people of all ages prefer to use chatbots when shopping online.

(Tidio)

More and more chatbots are appearing across the internet. The reason for the fast-growing chatbot market is that people are more and more satisfied with this kind of customer support. Recent research has shown that all age groups enjoy shopping with the assistance of chatbots. Of shoppers aged 30-44, 49.30% say they prefer using chatbots as their communication channel when shopping online, and around 44% of shoppers aged 45-60 use the same channel.

Three in five millennials have used chatbots at least once in their lives.

(Forbes)

More than half of millennials tried out chatbots in 2018, according to chatbot use statistics by Forbes. As we already know, millennials use social media apps more than any other generation - they interact with friends via social media, get information, shop, or use apps for entertainment. They are also more open to trying new technologies and applying them in everyday life. It’s thanks largely to this generation that chatbots are becoming more and more popular.

Baby boomers are more likely to expect benefits from chatbots than millennials.

(Apiumhub)

You might be surprised to discover that baby boomers are the generation most likely to enjoy the benefits of chatbots. Many people assume that impatient millennials want technology like this, but actually baby boomers use chatbots to resolve problems more than the younger generations. Around 61% of baby boomers expect an instant response from chatbots.

27% of adults in America have used chatbots for shopping at least once in their life.

(Chatbots Magazine)

Consumers now buy basic goods, like food or clothes, using chatbots. What’s more, nearly 13% of shoppers are now buying more-expensive items using chatbots.

48.78% of female shoppers like chatbots and use them as a channel of communication when buying online.

(Tidio)

Nearly 50% of female shoppers like to use chatbots while shopping, while only 36.81% of men do the same. According to chatbot engagement statistics, 41.67% of men prefer using email over chatbots when purchasing online.

47.92% of men use chatbots if they can’t find answers to simple questions.

(Tidio)

While women use chatbots for online shopping, men are most likely to turn to this technology to get answers to simple questions.

Chatbot Growth Statistics and Social Media Platforms

63% of consumers think businesses should be on Messenger.

(Chatbots Life)

Social media platforms have become so popular in the past couple of years that the number of Facebook users is growing by the day. If you take a look at Facebook trends in 2017, you’ll see some astonishing figures. More than 1.3 billion people used Facebook Messenger, many of them for business purposes.

There were over 300,000 chatbots on Facebook in 2018.

(Venture Beat)

According to Messenger chatbot statistics, the number of chatbots increased in 2018 by 100,000 users. Business and customers combined sent around 8 billion messages a day over the past year.

BlueBot sent two million messages to more than 500,000 customers in 2018.

(Convince & Convert)

BlueBot, or simply BB bot is a Facebook Messenger chatbot launched by KLM Royal Dutch Airlines to help passengers book tickets and inform them about flights, gate changes, and other important flight-related info. The idea behind the program was to reduce customer service hours by engaging an automated chat bot. And KLM succeeded. In its first six months, BlueBot helped more than 500,000 customers, according to Facebook messenger bot stats.

More than 80% of small businesses in India and Brazil say WhatsApp helps them improve customer service and grow business.

(Sprout Social)

WhatsApp’s chatbot is among the top chatbots used specifically for business purposes. Many companies over the world have implemented this chatbot in order to improve customer support on one of the world’s most-used apps.

Frequently Asked Questions
How many chatbots are there?

According to Facebook statistics, there were 300,000 chatbots on Facebook alone in 2018. Across the web, the number of chatbots has increased dramatically over the past few years, thanks to the newest technological trends and AI development.

How many companies are using chatbots?

Statistics on chatbot usage show that by the end of 2020, 80% of companies will use chatbots.

Why are chatbots so popular?

Chatbots have become very popular because they save time and resources by automating customer support services. In this way, human agents can focus on solving more complex problems.

What is the best chatbot?

Mitsuku is the best conversational chatbot. This chatbot can chat about anything, answering users’ questions in a human-like way.

Why do people use chatbot?

People use chatbots for different purposes. Online chat bots are used for 24/7 customer support, which provides customers with instant responses to simple questions. Around 37% of customers use chatbots to get quick answers in case of an emergency.

Do consumers like chatbots?

Yes, consumers like chatbots. Around 67% of customers used chatbots in 2018, and by the end of 2019 more than a quarter of the population was estimated to be using some kind of chatbot support. However, chatbot statistics have shown that 46% of users would prefer to communicate with a live person instead of chatbot.

About author

Danica’s greatest passion is writing. From small businesses, tech, and digital marketing, to academic folklore analysis, movie reviews, and anthropology — she’s done it all. A literature major with a passion for business, software, and fun new gadgets, she has turned her writing craft into a profitable blogging business. When she’s not writing for SmallBizGenius, Danica enjoys hiking, trying to perfect her burger-making skills, and dreaming about vacations in Greece.

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For the first time ever, two black women are running America's 500 highest-grossing companies, giving us hope that gender diversity on executive boards might become a reality in the not-so-distant future. In terms of the median salary in the US, women earn around 18% less than men. (PayScale) The gap between the leadership roles isn’t the only hurdle that women are facing in business nowadays. PayScale, a company that helps employers and employees understand the appropriate pay for every position, reviewed these issues in its Gender Pay Gap Report for 2021. According to this report, women earn only $0.82 for every dollar a man makes. Although it might sound discouraging, this is a slight improvement compared to 2020, when they earned one cent less, as per employment diversity statistics. Also, bear in mind these are uncontrolled pay gap statistics - when doing the same job with the same qualifications, the numbers are less dire: women earn 98 cents for every dollar a man does. During the COVID-19 pandemic, fathers who worked remotely were promoted three times more than women in the same position. (CNBC) The ongoing COVID-19 pandemic has affected all aspects of the business as we know it. Many had to adapt to the new reality and switch to their home offices instead. According to a CNBC report, 34% of men with children working from home received some kind of promotion during this period.  On the other hand, women’s jobs have been hit much harder by the pandemic. According to an analysis conducted by the National Women’s Law Center, of the 1.1 million workers ages 20 and over, who left the labor force between August and September of 2020, 865,000 were women. Racial and Cultural Diversity in the Workplace Statistics 46% of Hispanic and 39% of black women earn less than $15 an hour. (The Washington Post) In 2019, around 39 million people earned less than $15 per hour. These 39 million employees made about 28% of the workforce at the time, and the majority of the low-wage category consisted of Hispanic and black women. In fact, they were more than 2x as likely as white men to fall into this wage category.  Based on the Washington Post’s research on diversity in the workplace, statistics haven’t really changed since 2019. Roughly 46% of Hispanic women and 39% of Black women still make less than $15 an hour. On the other hand, only 18% of White and Asian men hover around this wage bracket. More than 90% of all Google employees are white or Asian men. (Statista) According to Statista, the distribution of Google employees in the US from 2014 to 2021 does not look very racially or gender-diverse. The data for 2021 shows that white men account for 50.4% of employees, with Asian men following with 42.3%. On the flip side, only 4.4% of the employees are black men and women. If you look at the timeline of these statistics on diversity in the workplace, you will see the Asian population is experiencing steady growth, while the white population dropped from 64.5% in 2014 to 50.4% in 2021.  In 2019, black people held only 3.2% of senior leadership roles in large organizations in the US. (Coqual) “Being Black in Corporate America” is the name of Coqual’s intersectional exploration aimed to show if and how things have changed for the black people in the US during the past few years. The research on the representation of black adults in the US has shown that only 3.2% of black people held senior leadership roles in major companies, with just 0.8% of them being Fortune 500 CEOs. Benefits of Diversity in the Workplace Statistics Diverse companies produce 19% more revenue than those with non-diverse leadership. (Forbes) A study by the Boston Consulting Group (BCG), published in 2018, has found that diverse leadership increases the bottom line for companies. According to the study, increasing the diversity of leadership teams can lead to improved financial performance and better innovation. The study included 1,700 companies of all sizes across eight different countries. These findings are important as they show that diversity isn’t just an inclusion metric but an integral part of any successful business. In 2019, gender-diverse companies were 25% more likely to outperform their competitors. (McKinsey) Various diversity in the workplace stats show just how important diversity is and how it can help boost the overall performance of businesses of all sizes. Based on the findings from McKinsey’s research in 2019, companies with gender diversity have 25% higher chances to achieve higher profits than those with less gender diversity on the executive boards. Ethnic diversity in leadership teams is another vital factor. According to the report, companies implementing ethnic and cultural diversity on the executive level have a 36% likelihood of outperforming the competition.  Diverse companies are 70% more likely to acquire new markets. (Harvard Business Review) (Josh Bersin) Establishing a diverse workplace is vital for all modern organizations, and there are many diversity in the workplace statistics that prove this. Diverse companies also have 2.3 times higher cash flow per employee. They are also far better at capturing new markets when compared to the companies that do not practice diversity hiring.  80% of US job candidates look for inclusion when choosing an employer. (Deloitte) Salary and working hours aren't the only deciding factor when it comes to choosing a new employer. Back in 2017, Deloitte published a research paper that surveyed more than 1,300 full-time employees from a range of organizations all across the US. The paper showed just how important diversity and inclusion initiatives are by showing that four-fifths of all employees look for an inclusive workplace. 39% of respondents confirmed they would quit their current job if they found a more inclusive working environment, while 23% indicated they already left a job for that very reason.
By Nikolina Cveticanin · October 04,2021
Women account for 50.8% of the US population, hold 57% of all undergraduate degrees, and approximately 60% of all master’s degrees. And even though they hold about 52% of all management-level jobs, American women cannot keep pace with men in terms of representation when it comes to top leadership roles.  As male vs. female CEO statistics show, it’s the profit and loss roles or P&L responsibilities such as leading a brand, unit, or division, that set executives on the track to becoming a CEO. On the other hand, women who advance into C-suites - the “chief” jobs in companies - typically take on the roles such as head of human resources, legal, or administration. Although all of these functions are extremely important, the line of work they focus on doesn’t involve profit-generating responsibilities, which rarely makes them a path to running a company. Why does the percentage of CEOs that are female remain low in all parts of the world? There isn’t a simple answer to this question. Several studies have shown that it’s the fusion of work-life constraints, early professional trade-offs, and firmly established attitudes towards women in power and the skills and traits that make a good leader that can explain why the careers of equally ambitious and capable men and women often take such different turns. Let’s take a look at some of the most interesting findings. Male vs Female CEO Statistics - Editor’s Choice Female CEOs are running 41 Fortune 500 companies. There are two Black women among the Fortune 500 CEOs. Women made up only 5% of the CEOs appointed in 2020 globally. At the CEO level, men outnumber women by approximately 17 to one.  59% of male employees aspire to become CEOs versus 40% of women. 77% of women say the biggest obstacle to gender equity at the workplace is the lack of information on how to advance. Between 2015 and 2020, the share of women in senior vice president roles in the US increased from 23% to 28%. (McKinsey & Company) Over the same period, the percentage of women in the C-suite went up from 17% to 21%. All women, especially those of color, remained significantly outnumbered in senior management positions. However, prior to the start of the coronavirus pandemic, the representation of female workers in corporate America was slowly trending in the right direction.  According to 2020 statistics on female CEOs in the United States, 21% of C-suite members were women.  (McKinsey & Company)  Based on the survey results published by McKinsey & Company, there’s a leaky pipeline for women in leadership. In 2020, female workers accounted for 47% of entry-level positions, 38% of management roles, and 33% senior management/director roles. Women were entrusted with under one third (29%) of all vice president positions in American organizations. For every 100 men who got promoted to a managerial role, only 85 women advanced to the same position, based on the 2020 data.  (McKinsey & Company) This gap was even larger for women of color as only 71 Latinas, and 58 Black women received a promotion. Consequently, women remained underrepresented at the managerial level holding just 38% of manager positions, while men accounted for 62%. Male vs female CEO statistics from 2020 indicate that 39% of senior-level women burned out compared to 29% of men. (McKinsey & Company) Furthermore, 36% of women felt pressured to work more, in comparison with 27% of men. At the same time, 54% of C-suite women reported that they constantly felt exhausted, and so did 41% of men in similar positions. More than 50% of women in senior leadership roles promote gender and racial equality at work, in comparison with approximately 40% of male top executives. (McKinsey & Company) Women in leadership positions are more likely than men in senior-level roles to take a public stand on racial and gender diversity and champion the advancement of employee-friendly programs and policies. Women CEOs are also more likely to sponsor and mentor other female workers. According to the results of a recent survey, 38% of women in senior-level positions currently mentor or sponsor at least one woman of color, compared to only 23% of men in the same roles.   Female CEOs are running 41 Fortune 500 companies. (Fortune, Statista) In 2021, the number of women appointed to CEO positions in America's 500 highest-grossing companies reached an all-time high. However, the new record still only translates to approximately 8% of female representation at the top of the country's largest public businesses.  On the plus side, the number of women CEOs of Fortune 500 companies almost doubled in comparison with 2018 when there were 24 females leading the nation’s biggest businesses. Calls for diversity and inclusion in the highest echelons of America’s business world are starting to bear fruit as the number of female Fortune 500 chief executive officers increased for the third consecutive year. The top five biggest female-led Fortune 500 businesses as of August 2021 are CVS Health (rank four), Walgreens Boots Alliance (rank 16), General Motors (rank 22), Anthem (rank 23), and Citigroup (rank 33).  Speaking of women in leadership roles, statistics show that there are two Black women among the Fortune 500 CEOs. (Fortune) For the first time, two Black women are running Fortune 500 businesses - Roz Brewer of Walgreens Boots Alliance (rank 16) and Thasunda Brown Duckett of TIAA (rank 79). Before Duckett and Brewer started their new jobs in 2021, only one Black woman - Ursula Burns, former Xerox chief - had ever been appointed CEO at a Fortune 500 business on a permanent basis. After Burnes stepped down from the role in 2017, and, with the exception of Bed Bath & Beyond's Mary Winston, who worked as interim chief for a few months in 2019, Black female chief executive officers have been missing from the Fortune 500 list ever since. Citigroup CEO Jane Fraser is the first woman to run a major Wall Street bank. (Fortune) Fraser’s appointment marked huge progress for the financial industry. Much like Dick's Sporting Goods chief Lauren Hobart, Clorox chief Linda Rendle, new Coty CEO Sue Nabi, Walgreens Boots Alliance’s Roz Brewer, Thasunda Brown Duckett of TIAA, and CVS’s CEO Karen Lynch, Fraser took over from a male CEO. Statistics on Fortune 500 CEOs by gender reveal that there were only 37 female and 463 male chiefs leading America’s highest earning businesses in 2000. (Fortune) The number of women in CEO positions in the Fortune 500 hasn’t been growing steadily throughout the last two decades. There were 24 female chiefs in 2015, 21 women CEOs in 2016, and 32 women running Fortune 500 businesses in 2017, while that number dropped to 24 in 2018.  At the median, 16 female CEOs earned $13.6 million in 2020, in comparison to $12.6 million for the 326 men included in a study. (Equilar) According to a study published in May 2021 comparing a male CEO salary vs. a female CEO salary, women have outpaced men in total pay but remained underrepresented in executive positions. Equilar’s study indicates that Lisa Su, the chief executive officer of Advanced Micro Devices, was the highest-paid woman for the second consecutive year and the highest-paid CEO overall in 2020.  Globally, women made up only 5% of the CEOs appointed in 2020. (Heidrick & Struggles) The highest percentage of newly-appointed female CEOs was in Ireland (15%), while the lowest was in Brazil (0%). This is according to a paper that analyzed the backgrounds of chief executives leading 965 of the largest companies in 20 markets around the world. It sought to identify the skills and experience that shaped their path to the top while taking different male vs. female CEO statistics into account.  At the CEO level, men outnumber women by approximately 17 to one.  (Morningstar) According to a study that explored the gender gap in US companies, the number of male executive officers is seven times higher than the number of women holding the same positions. More than 50% of the companies analyzed didn’t have a single female on their lists of executive officers. Jackie Cook, the author of the Morningstar report, found that online retail giant Amazon didn’t have any women among its highest-paid executives as of 2020.  Women who negotiate for raises and promotions are 30% more likely to be considered as "too aggressive" or "intimidating". (Business Insider) Speaking of male managers vs. female managers, statistics reveal that women who don’t negotiate at all are 67% less likely to receive the same negative feedback. The proportion of women in senior management roles increased from 20% in 2011 to 29% in 2020, globally. (Grant Thornton) As 2019 saw a jump of 5% compared to 2018 (amounting to a total of 29%), 2020 represents a leveling off of the progress made during the previous year. This lack of movement doesn’t necessarily reflect a failure of companies to address the existing gender gap. Globally, the proportion of companies with at least one woman in senior management was 87% in 2020.  (Grant Thornton) The number of female CEOs and senior managers has risen by almost 20 percentage points over the last few years. For comparison, this figure stood at 68% in 2015 and 68% in 2017.  77% of women say the biggest obstacle to gender equity in the workplace is the lack of information on how to advance. (Working Mother Research Institute) Only 41% of female survey participants, as opposed to 64% of male respondents, said they have a network of coaches, mentors, and sponsors offering them career guidance. 37% of women versus 64% of men said that their companies provide information on career paths that lead to executive roles. (Working Mother Research Institute) Additionally, women CEO statistics indicate that 74% of female employees understand what the specific requirements are for advancing to the highest-paying roles in their companies even though they don’t receive this type of information directly.  60% of women believe they have the same opportunities to advance as anyone else at their workplace versus 74% of men.  (Working Mother Research Institute) Similarly, 65% of women express they are satisfied with the way their careers are progressing, and so do 78% of men.  Male vs female CEO stats reveal that 59% of male employees aspire to become chief executives versus 40% of women.  (Working Mother Research Institute) Of those women who aspire to become CEOs, 6% are first-level managers (as opposed to 13% of men) and 39% are executives. The same goes for 40% of men hoping to take on the role of chief executive officer.  Businesses with high representations of women in leadership roles had a 35% higher return on equity and 34% higher total shareholder return in comparison with male-dominated companies.  (Catalyst) Female vs male CEO statistics compiled by an NGO during a review of 353 Fortune 500 companies show that the differences were most apparent in facial services, consumer discretionary, and consumer staples industries.
By Milica Milenkovic · September 24,2021

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