Tthe percentage of women in senior management teams has seen a dubious 6% shift in the last 13 years
In the 2017 report by Grant Thornton titled 'Women in Business' reveals that globally, the percentage of women in senior management teams has seen a dubious 6% shift in the last 13 years. This is to say that the dial on gender diversity in senior leadership is shifting at a painfull slow rate.
The number of organizations with no female participation at a senior level has risen from 33% in 2016 to 34% in 2017. Similarly, the percentage of women in senior management teams has risen just 1% in the last one year. The report provides a number of recommendations on how to increase the number of women in senior leadership positions for the benefit of businesses as a while, and risk strategies, in particular.
Diversity fatique should be their first concern. According to the report, leaders are concerned with reducing costs and retaining talent, relegating diversity to a nice-to-have rather than a must-have.
Outdated leadership models is the second concern.The report states that more women are finding other interesting ways to achieve the balance they want - like working for smaller startups or setting up on their own. Unfortunately, large organizations cannot afford to lose out on female talent.
The other obvious reason is the lack of support.The study explores the tendency of women to have mentors, and not sponsors who can advocate for employees below them at the decision-making table when it comes to staffing high-profile projects and promotions.
The Grant Thornton report surveyed top regions to explain the variation in performance around the world. In the emerging APAC region, only 29% of senior roles are held by women while 26% of businesses have no women in senior roles. Among the APAC countries, China has done exceptionally well and remains above the global average at 31% of senior roles held by women. India, on the other hand, continues to rank in the bottom ten countries at 17%.