Increasing number of women in senior roles
IN commemoration of International Women’s Day, P&A Grant Thornton unveiled “Pathways to parity: 20 years of women in business insights,” a culmination of dedicated research aimed at tracking and evaluating the presence of women in senior management roles within mid-market companies in the Philippines.
The report identified three clear pathways that businesses can leverage to accelerate progress towards gender parity in senior management: assigning responsibility for diversity, equity and inclusion (DE&I) to both a C-suite member and a female senior leader, establishing an independent DE&I strategy with measurable goals and implementing flexible working models.
Currently, women’s highest senior management roles were chief financial officer at 39 percent, human resource director at 38 percent and sales director at 26 percent.
Second, to achieve parity for women in senior management roles, businesses must have a DE&I strategy in place. The most effective strategy in the Philippines combines DE&I and environmental, social and governance (ESG) initiatives, followed by an ESG strategy with specific actions focused on diversity and inclusion.
Lastly, flexible working arrangements are pivotal in advancing the pathway to parity. With hybrid models blending onsite and remote work demonstrating higher productivity, businesses are encouraged to maintain this approach.
Thus, having women representatives in making decisions for the improvement of DE&I is substantial, specifically regarding the effectiveness of the hybrid work setup.
P&A Grant Thornton urged businesses