The Philippines has the highest percentage globally in terms of senior management roles, according to a study of Grant Thornton titled “Pathways to Parity: 20 Years of Women in Business Insights.”
The study, released in time for the celebration of International Women’s Day on March 8, said the Philippines over the past year has maintained a 43 percent representation of women in senior management roles.
While this percentage has seen a slight decline of 6 percent in the last year, it has consistently remained within the range of 37 percent to 50 percent over the last two decades.
The research covers two decades aimed at tracking and evaluating the presence of women in senior management roles within mid-market companies in the Philippines.
The study said the highest senior management roles held by women are chief financial officer with 39 percent; human resource director, 38 percent and; sales director, 26 percent.
When a CEO of any gender works with a senior female leader, they only hold 26.5 percent of the said roles. The best combination is when a chief information officer leads DE&I (diversity, equity and inclusion) alongside a female senior leader, as the percentage of women in CIO accounts for 64 percent compared to the percentage of men at 36.
The study said the most effective strategy in the Philippines combines DE&I and Environmental, Social, and Governance (ESG) initiatives (41.2%), followed by an ESG strategy with specific actions focused on diversity and inclusion (27.5%).
Businesses primarily relying on office-based work observe a decline in the percentage of women in senior management roles.
Having a hybrid work model such as when a woman goes on maternity leave becomes essential for their retention and career advancement, thereby allowing more opportunities for women to attain senior-level positions.
