Philippine companies are dominated by women in senior managerial position with 37%, according to Women in Business survey. Philippines ranks first in Asia and slips at fifth in the global ranking.
As cited in the report in Business World, Women in Business 2019 carried out survey which report released by Grant Thornton International Ltd. Accordingly, there 4,900 senior executives from 35 countries participated.
The average global average was set to 29%. Subsequently,” New Zealand had the highest proportion of women in senior leadership positions at 43.9%. Second is Australia with 41.94%; Nigeria ranked third with 38.47%;Botswana was in fourth with 38.25%”.
The rate of the Philippines declined by ten percent from the 47% in 2018. Notably, “the percentage of Filipino women in senior management was 40% in 2017, and 39% in 2016”. Hence, the growing streak was cut by this year.
Despite of this, Filipina still generate significant role in working force, according to Marivic C. Españo, P&A Grant Thornton chairperson and chief executive officer.
“The top three roles of Filipino women in business are human resources director at 75%, chief finance officer at 66%, and chief operating officer at 53%” report stated.
Actions to Take Based on Women in Business
Moreover, based on the statement of Women in Business, to improve or preserve the gender balance in leadership teams were various measures that Philippine businesses take. Specifically, measures with regards in ensuring equal access to development work opportunities (70%), providing mentoring and coaching (66%), and enabling flexible working (56%).
On the other, actions to improve by women leaders were noted as well. Factors such as lack of access to developmental work opportunities (55%); finding time alongside core job responsibilities (51%), and caring responsibilities outside work and lack of access to networking opportunities (both at 47%) are hindrances for women in attaining skills and attributes to be successful in their roles.
Ms. Españo said that “policies that address equal opportunity in careers, bias in recruitment, and flexible working cannot just be nice to have. To achieve meaningful progress, they must be adhered to, enforced, and regularly revisited to assess their effectiveness and, when that is combined with real commitment from senior leadership, you begin creating a truly inclusive culture”.
More importantly, global survey noted that businesses with at least one woman in senior management had increased by 12% from 75% in 2018.
Source: PHL slips to 5th in Women in Business survey