It's March 8 again and that means International Women’s Day. Anno 2025, it is hardly a day of celebration but rather a call to action and a plea for global gender equality. Women's Day an opportunity to recognize the progress we’ve made but that's becoming increasingly depressing in the last few years as it seems to go backward instead of forward in many places. So more importantly, let's focus on the progress we still need to make.
Among the most iconic symbols of the empowerment of women and girls is the Fearless Girl statue. Placed in front of New York’s Charging Bull in 2017, the young girl standing with her hands on her hips, unwavering and confident, became an immediate symbol for gender diversity, equity, and inclusion. Photographed by millions of people every year, it was meant to challenge gender disparities in the workplace.
However, the statue’s backstory is not as innocent but rather a good & sad representation of the corporate diversity conversation in 2025. Fearless Girl was commissioned by State Street, a Wall Street index fund. Initially meant to draw attention to gender inequality in the workplace, the statue’s creation was a collaborative effort between artist Kristen Visbal and advertising agency McCann. However, as with many things in the world of corporate feminism, it wasn’t long before questions arose about the motivations behind the statue’s sponsorship. While the public was quick to embrace Fearless Girl as an empowering symbol, some scholars, pointed out the irony of a corporate giant using such a powerful symbol to promote itself. After all, at the time, State Street was being investigated for gender pay discrimination. Many believed the statue was just a PR strategy, trying to boost State Street's image at a time DEI was "popular".
And that's not where the story ends. Fast forward to 2025, and the debate surrounding the statue continues to evolve. After State Street sued the female artist who made the statue, they were one of the many US companies that recently scaled back its diversity policies in the wake of shifting political tides in the US. The very company that championed Fearless Girl as a symbol of female empowerment is now reversing its course on diversity initiatives. I guess the trend is now anti-DEI... Once again, we find out that corporate support for gender equality is more about image than substance for many companies. Leadership turns with the tide, the masks come off...
As the news reports more and more companies “moving away from DEI”, the question arises: Why are so many companies suddenly scrambling to defend their “traditional” leadership structures? I mean, could it be that, in an open labor field, white men aren’t actually competitive enough without the need for exclusionary policies to keep pace? There’s a thought... was it too hard for these white men when the others got a chance? What exactly are they so afraid of?
The numbers don't lie. Research shows that businesses with diverse leadership perform better and that companies that invest in DEI initiatives see long-term benefits. So why, then, are so many organizations backtracking on their commitments to diversity? Politics undoubtedly play a role and it is a reflection of a larger systemic issue that we need to address.
For those in the back who've been snoozing and still don't seem to get it - a statue is nice but that's not what women are asking for. We don't need a post on your social media or a business magazine cover with only women on it for March. True change requires action, and it requires companies to live up to the promises they make. Let’s use this day not just to celebrate the fearless women who have paved the way for all of us but to hold those in power accountable for the progress we’ve yet to achieve.
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