Continued action by businesses has resulted in an increase in the proportion of women in senior management around the globe.
Women now hold 32% of top leadership positions, up from 31% in 2021. These include chief executive officer and managing director, chief finance officer, chief information officer, chief operations officer, chief marketing officer and human resources director roles.
The increase continues the linear growth plotted over recent years. In the last decade, we have seen the proportion of female leaders grow by 11 percentage points, up from 21% in 2012.
Across the 5,000 business leaders in 29 countries surveyed by Grant Thornton, 90% record their business as having at least one woman in the C-suite or equivalent. Regionally, there has also been positive progress, with every area we report on equalling or passing 30% of senior roles held by women.
With global numbers for senior women remaining consistently past the 30% tipping point – the proportion needed to spark significant positive momentum – over the last two unsettled years, we also hope to see an acceleration in the growth of female representation at senior management level.
An increase in gender diversity at the top level leads to business benefits, particularly in light of the global shortage. With traditional business models being challenged in favour of more fluid structures, and recruiters widening their nets to draw from a global talent pool, businesses are having to compete harder for individuals with the abilities to lead and succeed in the new business landscape.
Grant Thornton’s International Business Report research reveals that 57% of mid-market organisations expect talent shortages to be a major constraint to their businesses over the next 12 months. A record level of talent churn, being termed the ‘great resignation’, is adding to the pressure to retain and attract the best people.
With employees re-evaluating their work-life balance and reconsidering the route of their career paths in the wake of the pandemic, businesses are having to be more authentic in building environments where their people can find purpose. A central element of this is to tailor working models to individual employees, making it easier and more appealing for them to remain with their employers as their life priorities shift.
