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Women in Business 2022

Number of women in top posts falls

The number of female leaders in senior management roles in the Philippines dipped from 48 percent in 2021 to 39 percent in 2022, according to Grant Thornton International Ltd.’s Women in Business research.

Yet, the country still ranked third in the list of countries which recorded the highest number of women leaders in mid-size firms.

The report showed the proportion of women in senior management roles is way above the global average of 32 percent and in line with Asean’s 37 percent.

The study added 56 percent of respondents from the country expressed optimism new work practices that benefitted women during the pandemic corporate practices like work-from-home and hybrid work arrangements will continue to boost and advance women’s career trajectories.

Some 39 percent strongly agreed that indeed, new work practices have benefitted women during the pandemic.

The study showed more than 70 percent of businesses are now working to create a more inclusive environment to attract and retain female talent.

With nearly two thirds (57 percent) of mid-market leaders expecting a skill shortage to be a major constraint to their businesses in the year ahead, Grant Thornton’s research showed that in response, 95 percent of mid-market business leaders are now taking action to foster staff engagement and create an inclusive culture.

The research surveyed senior leaders from 5,000 businesses across 29 economies. There were 105 respondents from the Philippines. – Irma Isip

 

As published in Malaya Business Insight, dated 03 March 2022