Bangkok--11 Mar--Grant Thornton
With 8 March marking International Women’s Day 2013, new research from Grant Thornton’s International
Business Report (IBR) reveals that globally, more women are making it into senior management roles than atany time since 2010. 24% of senior management roles are now filled by women. This is up from 21% in 2012and 20% in 2011.
However, progress is slower in the G7 group of developed economies, where economic performances havebeen stuttering, than in the high growth economies of Asia and the Far East. Grant Thornton urges businessesin developed economies to emulate emerging market counterparts and reap the benefits of having more womenin senior positions.
IBR data shows that globally, 24% of senior management roles are now filled by women. This is up from 21%in 2012 and 20% in 2011. However, the G7 economies come bottom of the league table with just 21% of seniorroles occupied by women. This compares to 28% in the BRIC economies, 32% in South East Asia and 40% inthe Baltic states.
Thai Senior Audit Partner at Grant Thornton Thailand Sumalee Chokdeeanant, commented: “The pioneereconomies where economic growth is high have greater diversity in their senior management teams. ASEANand APAC are ahead of the global average at 32% and 29% respectively but Thailand is even higher at 36%.
Women are playing a major role in driving the world’s growth economies, bringing balance to the decisionmaking process and the smooth running of their companies. In comparison, the mature economies of the G7are now playing catch up. They need to wake up to gender disparity and add this crucial ingredient to long-termgrowth and profitability.”
Japan (7% of senior roles occupied by women, the worst performer), the UK (19%) and the USA (20%) are inthe bottom eight countries for women in senior management. These economies are also experiencing low levelsof growth, with GDP in Japan (1.9%), the UK (-0.1) and the USA (2.2%) in 2012 all modest. In contrast, top ofthe table for women in senior management is China, with 51%. GDP growth for 2012 there is expected to bebetween 7-8%. The top 10 also contains the growth economies of Latvia, Vietnam, Thailand and thePhilippines.
The situation is even starker when looking at boardroom positions. In the G7, just 16% of board members arewomen. This compares to 26% in the BRIC economies and 38% in the Baltic states.
The IBR also reveals the routes most and least likely to see women make it into the boardroom and to the top of the professional ladder.
BEST
According to the IBR, the most likely route to the top for women is the Chief Finance Officer of a healthcare company in China.
Of businesses with women in senior management positions, the boardroom position most filled by
women is Chief Finance Officer (31%).
The sector with the highest proportion of senior management roles occupied by women is healthcare (45%).
The country with the highest proportion of senior management roles filled by women China (51%).
WORST
In contrast, the research reveals that the route to the top least likely to be taken by women is the Chief
Information Officer of a mining or construction company in Japan.
Of businesses with women in senior management positions, the boardroom position least filled by
women is Chief Information Officer (6%).
The sectors with the lowest proportion of senior management roles occupied by women are
construction and mining (each 19%).
The country with the lowest proportion of senior management roles occupied by women is Japan (7%).
Julaporn Namchaisiri, Managing Director of Corporate Finance at Grant Thornton Thailand, commented:
“China is the only country in the world where more than half of senior management roles are occupied bywomen, all the more impressive given that in 2011 it was only 34%.
“In the week we celebrate International Women’s Day, the research also highlights a serious issue in manycountries where progress for women is painfully slow. Japan remains bottom of the global league table, aposition it has held since we started since this research began in 2004. The odds are overwhelminglystacked against women there breaking through the glass ceiling and enjoying top jobs. This will haveprofound implications for Japanese businesses, whose senior teams are lacking a balance and diversityneeded to drive sustained growth.”
The IBR also reveals that the proportion of women in senior positions is markedly different across
different sectors. Over double the number of positions in the global healthcare sector are occupied by
women (45%) than in construction or mining (19%).
Thailand’s Tax Partner from Grant Thornton, Melea Cruz, noted: “It may not be surprising to see morewomen succeeding in healthcare than in sectors like construction or mining, where traditionally fewerwomen work. But being a woman in a top job should be about more than just strength in numbers.
Women should be awarded on merit, and even if the route to the top is tougher in certain sectors and
regions than others, all businesses can benefit from greater diversity in top positions. Here in Thailand weare worldwide leaders in this; looking across all the senior roles in the company, the position most filled by women is CEO at 49% which is the highest proportion in the world".