Leading companies are closing the gender gap by setting specific measurable targets for achieving gender equality.
Successful goal setting includes both qualitative and quantitative goals. Qualitative goals revolve around organizational elements like impact, satisfaction, and attitude without correlating to specific numerical values. Quantitative goals, on the other hand, feature a numerical value and often involve targets and quotas.2 To formulate these different types of goals and later on track their progress, organizations need to perform a baseline assessment and routinely collect qualitative and quantitative data. Organizations that use data to inform goal setting are better equipped to formulate relevant and realistic gender equality goals that can enhance employees’ support for and commitment to achieving these objectives as well as other intersectionality initiatives. However, goal setting is an underutilized tactic in spite of the private sector’s increasing commitment to advancing the careers of women.3 The Canada-United States Council for Advancement of Women Entrepreneurs & Business Leaders found that, currently, only 16 percent of companies share gender equality targets internally and 13 percent do it externally.4