Despite efforts by organizations to prioritize women's leadership, the gender gap in the C-suite persists. Female leaders in business remain a minority.
The disparity at the top is also pronounced in the nonprofit sector, where women make up 75 percent of the workforce but hold the top position in less than half of their companies, according to a 2015 report from GuideStar.
Devex President and Editor-in-Chief Raj Kumar spoke with McKinsey & Company Associate Partner Tracy Nowski about how to foster the next generation of women leaders as part of McKinsey and Devex's Power with Purpose initiative, honoring female leaders in global development.