The latest report of Grant Thornton International shows how many women are in the senior management by country and continent. In the past few years, women have become members of the boards in all sectors and countries, which helps setting permanent growth.
A session at the CBS Competitiveness Day 2015 - Professor Louise Mors will present initial findings from a study on board dynamics collaborating with Margarethe Wiersema (Professor at UC Irvine). The study will draw on initial interviews conducted with board members in Denmark, Norway and the US aiming to reach a better understanding of the structure and interactions on boards; especially with an interest in how or if female board members have an influence on these dynamics.
LBC presents its annual list of the Top 50 Businesswomen operating in or with Latin America for 2014.
Adriana Cisneros has been head of the Cisneros Group, a private media, entertainment, telecom, and consumer products conglomerate. Their largest property is Venevision, Venezuela’s largest private television network in Venezuela, and one of the largest producers of Spanish-language television content in the world.
September, 2014
A session at the CBS Competitiveness Day 2015 - Professor Louise Mors will present initial findings from a study on board dynamics collaborating with Margarethe Wiersema (Professor at UC Irvine). The study will draw on initial interviews conducted with board members in Denmark, Norway and the US aiming to reach a better understanding of the structure and interactions on boards; especially with an interest in how or if female board members have an influence on these dynamics.
LBC presents its annual list of the Top 50 Businesswomen operating in or with Latin America for 2014.
Adriana Cisneros has been head of the Cisneros Group, a private media, entertainment, telecom, and consumer products conglomerate. Their largest property is Venevision, Venezuela’s largest private television network in Venezuela, and one of the largest producers of Spanish-language television content in the world.
September, 2014
Exhortación Pastoral del Episcopado Venezolano Asamblea Ordinaria CIVGustavo Cisneros
En el marco de la asamblea ordinaria de la Conferencia Episcopal Venezolana, los altos miembros del episcopado, publicaron una exhortación, basada en las enseñanzas que dejó la visita de su Santidad el papa Francisco durante su paso por Latinoamérica.
Cortesía de: la Conferencia Espiscopal Venezolana
Adriana Cisneros: la mujer que comanda la revolución de la TVAdriana Cisneros
Liderado por Adriana Cisneros, el equipo directivo del principal consorcio televisivo venezolano se ha propuesto una misión: ser pionero en Latinoamérica en la venta de contenido y publicidad digital. Las startups de la región serán clave para lograrlo.
04 de Marzo 2015
Gustavo Cisneros nombra a Adriana Cisneros como nueva CEO de la Organización ...Gustavo Cisneros
Luego de siete años en la Organización y tres años como Vice-Chairman y Director de Estrategias, Adriana Cisneros asume hoy el cargo de CEO (Chief Executive Officer) de la Organización Cisneros.
Durante este tiempo, Adriana Cisneros lideró el desarrollo de la Organización en el mundo digital y el comercio electrónico, además de desarrollar nuevas líneas de negocio, generar alianzas estratégicas globales e impulsar una nueva forma de Responsabilidad Social Empresarial asociada a cada división de negocio.
En esta nueva etapa, Gustavo Cisneros continuará ejerciendo sus funciones como Chairman, trabajando en conjunto con Adriana Cisneros como Vice-Chairman y Steven Bandel como Co-Chairman para consolidar la expansión global del Grupo.
Agosto de 2013.
El MEF emitiría nuevo decreto esta semana para así no afectar al sector exportador, adelantó el presidente de ADEX, Gastón Pacheco, tras reunirse con el ministro Segura.
Los Cisneros: Rostros y rastros de una familia [1570 – 2015]- IntroducciónGustavo Cisneros
Todo empezó con mi padre Diego Cisneros, inspiración de este libro. En sus momentos de reflexión, cuando quedó inesperadamente apartado del día a día de los negocios, me pedía a menudo, junto a mi madre Albertina Rendiles, que procuráramos recuperar la historia de la familia para la posteridad. Un relato que él temía desapareciese. La aprensión de mi progenitor de incumplir su compromiso histórico tenía sus razones. Su núcleo familiar vivió una época de cambios forzados de residencia, cuyo itinerario empezó en La Habana a finales del siglo xix, pasando por breves permanencias en Cumaná y dos décadas de estancia en Puerto España, Trinidad, para finalmente asentarse en Caracas en 1928.
En las mudanzas se extravían objetos, papeles y fotografías; se confunden y esfuman recuerdos y memorias. Una vez en Venezuela, y por razones prácticas debido a sus obligaciones empresariales con Estados Unidos, donde se acostumbra un solo apellido, decidió acortar el suyo y terminar por llamarse Diego Cisneros en lugar de Diego Jiménez de Cisneros. Su hermano, mi tío Antonio José, por el contrario, conservó su apelativo completo. Mi padre cargaba este cercenamiento con cierta angustia en sus años de reposo, ya que sentía que la practicidad no solo se había llevado por delante un trozo de su nombre, legando a su descendencia por añadidura un apellido incompleto, sino también una parte importante de su historia.
Adriana Cisneros - Roundtable Discussion on Innovation and VC/PE Development ...Adriana Cisneros
Publication of World Trade Executive, about the participation of Adriana Cisneros in the roundtable “Innovation and VC/PE Development“ in Latin America, organized by the Americas Society and Council of the Americas.
Gustavo Cisneros’ Honors Night speech in the Advertising Educational Foundation (AEF), where he talked about education as a way to break the poverty cycle, and how Corporate Social Responsibility initiatives have become a key part of the Cisneros Group of Companies´ business strategy.
May, 2012
Adriana Cisneros en entrevista con TV Latina, en la que se refiere a las características de una empresa familiar exitosa, los planes para incrementar la presencia de la Organización en el mercado hispano de Estados Unidos, la industria del entretenimiento y la Fundación Cisneros, entre otros temas.
Noviembre, 2010
El empresario Gustavo Cisneros visita la provincia homónima de su apellido pa...Gustavo Cisneros
El pasado fin de semana la provincia de Palencia recibía la visita del empresario venezolano, Gustavo Cisneros, Presidente de la Junta Directiva de la Organización Cisneros, uno de los grupos de empresas privadas con mayor presencia en el mundo en las áreas de medios de comunicación, entretenimiento, telecomunicaciones y productos de consumo.
En este recorrido palentino estuvo acompañado por el diputado nacional por Valladolid, Miguel ángel Cortés, y los anfitriones palentinos: José Mª Hernández, presidente de la Diputación, Carmen Fernández, diputada de Cultura, la alcaldesa de Cisneros, Rosa Aldea y su corporación; además de los alcaldes de Frómista, Fernando Diez Mediavilla, Pedrosa de la Vega, Arturo Calvo, Saldaña, Miguel Nozal y Becerril, Mario Granda, le mostraron los recursos patrimoniales y turísticos que ofrecen estos puntos elegidos para conocer más de cerca la provincia.
Noviembre, 2014
Women in business: from classroom to boardroom
Grant Thornton International Business Report 2014
We have been tracking the proportion of women in senior management since
2004 and the research this year finds that the proportion of women in the
most senior roles has stagnated at 24% - the same as the result in 2012, 2009
and 2007. The question this raises is: what are the roadblocks on the path
to senior management?
Od 2014 roku śledzimy liczbę kobiet na stanowiskach menedżerskich. Tegoroczne badania wskazują, że ich udział procentowy wśród najważniejszych osób w firmie zatrzymał się na poziomie 24% - czyli takim samym jak w 2012, 2009 i 2007. Rodzi się pytanie - jakie bariery spotyka kobieta na drodze do wyższych stanowisk?
Exhortación Pastoral del Episcopado Venezolano Asamblea Ordinaria CIVGustavo Cisneros
En el marco de la asamblea ordinaria de la Conferencia Episcopal Venezolana, los altos miembros del episcopado, publicaron una exhortación, basada en las enseñanzas que dejó la visita de su Santidad el papa Francisco durante su paso por Latinoamérica.
Cortesía de: la Conferencia Espiscopal Venezolana
Adriana Cisneros: la mujer que comanda la revolución de la TVAdriana Cisneros
Liderado por Adriana Cisneros, el equipo directivo del principal consorcio televisivo venezolano se ha propuesto una misión: ser pionero en Latinoamérica en la venta de contenido y publicidad digital. Las startups de la región serán clave para lograrlo.
04 de Marzo 2015
Gustavo Cisneros nombra a Adriana Cisneros como nueva CEO de la Organización ...Gustavo Cisneros
Luego de siete años en la Organización y tres años como Vice-Chairman y Director de Estrategias, Adriana Cisneros asume hoy el cargo de CEO (Chief Executive Officer) de la Organización Cisneros.
Durante este tiempo, Adriana Cisneros lideró el desarrollo de la Organización en el mundo digital y el comercio electrónico, además de desarrollar nuevas líneas de negocio, generar alianzas estratégicas globales e impulsar una nueva forma de Responsabilidad Social Empresarial asociada a cada división de negocio.
En esta nueva etapa, Gustavo Cisneros continuará ejerciendo sus funciones como Chairman, trabajando en conjunto con Adriana Cisneros como Vice-Chairman y Steven Bandel como Co-Chairman para consolidar la expansión global del Grupo.
Agosto de 2013.
El MEF emitiría nuevo decreto esta semana para así no afectar al sector exportador, adelantó el presidente de ADEX, Gastón Pacheco, tras reunirse con el ministro Segura.
Los Cisneros: Rostros y rastros de una familia [1570 – 2015]- IntroducciónGustavo Cisneros
Todo empezó con mi padre Diego Cisneros, inspiración de este libro. En sus momentos de reflexión, cuando quedó inesperadamente apartado del día a día de los negocios, me pedía a menudo, junto a mi madre Albertina Rendiles, que procuráramos recuperar la historia de la familia para la posteridad. Un relato que él temía desapareciese. La aprensión de mi progenitor de incumplir su compromiso histórico tenía sus razones. Su núcleo familiar vivió una época de cambios forzados de residencia, cuyo itinerario empezó en La Habana a finales del siglo xix, pasando por breves permanencias en Cumaná y dos décadas de estancia en Puerto España, Trinidad, para finalmente asentarse en Caracas en 1928.
En las mudanzas se extravían objetos, papeles y fotografías; se confunden y esfuman recuerdos y memorias. Una vez en Venezuela, y por razones prácticas debido a sus obligaciones empresariales con Estados Unidos, donde se acostumbra un solo apellido, decidió acortar el suyo y terminar por llamarse Diego Cisneros en lugar de Diego Jiménez de Cisneros. Su hermano, mi tío Antonio José, por el contrario, conservó su apelativo completo. Mi padre cargaba este cercenamiento con cierta angustia en sus años de reposo, ya que sentía que la practicidad no solo se había llevado por delante un trozo de su nombre, legando a su descendencia por añadidura un apellido incompleto, sino también una parte importante de su historia.
Adriana Cisneros - Roundtable Discussion on Innovation and VC/PE Development ...Adriana Cisneros
Publication of World Trade Executive, about the participation of Adriana Cisneros in the roundtable “Innovation and VC/PE Development“ in Latin America, organized by the Americas Society and Council of the Americas.
Gustavo Cisneros’ Honors Night speech in the Advertising Educational Foundation (AEF), where he talked about education as a way to break the poverty cycle, and how Corporate Social Responsibility initiatives have become a key part of the Cisneros Group of Companies´ business strategy.
May, 2012
Adriana Cisneros en entrevista con TV Latina, en la que se refiere a las características de una empresa familiar exitosa, los planes para incrementar la presencia de la Organización en el mercado hispano de Estados Unidos, la industria del entretenimiento y la Fundación Cisneros, entre otros temas.
Noviembre, 2010
El empresario Gustavo Cisneros visita la provincia homónima de su apellido pa...Gustavo Cisneros
El pasado fin de semana la provincia de Palencia recibía la visita del empresario venezolano, Gustavo Cisneros, Presidente de la Junta Directiva de la Organización Cisneros, uno de los grupos de empresas privadas con mayor presencia en el mundo en las áreas de medios de comunicación, entretenimiento, telecomunicaciones y productos de consumo.
En este recorrido palentino estuvo acompañado por el diputado nacional por Valladolid, Miguel ángel Cortés, y los anfitriones palentinos: José Mª Hernández, presidente de la Diputación, Carmen Fernández, diputada de Cultura, la alcaldesa de Cisneros, Rosa Aldea y su corporación; además de los alcaldes de Frómista, Fernando Diez Mediavilla, Pedrosa de la Vega, Arturo Calvo, Saldaña, Miguel Nozal y Becerril, Mario Granda, le mostraron los recursos patrimoniales y turísticos que ofrecen estos puntos elegidos para conocer más de cerca la provincia.
Noviembre, 2014
Women in business: from classroom to boardroom
Grant Thornton International Business Report 2014
We have been tracking the proportion of women in senior management since
2004 and the research this year finds that the proportion of women in the
most senior roles has stagnated at 24% - the same as the result in 2012, 2009
and 2007. The question this raises is: what are the roadblocks on the path
to senior management?
Od 2014 roku śledzimy liczbę kobiet na stanowiskach menedżerskich. Tegoroczne badania wskazują, że ich udział procentowy wśród najważniejszych osób w firmie zatrzymał się na poziomie 24% - czyli takim samym jak w 2012, 2009 i 2007. Rodzi się pytanie - jakie bariery spotyka kobieta na drodze do wyższych stanowisk?
24%: that is the proportion of women holding the most senior roles in businesses across the globe. We have been tracking this figure over the past decade and are sorry to report there has been no significant movement. In fact, this figure is exactly the same as 2007, 2009 and 2013, suggesting that women’s ascent up the corporate ladder has returned to its ‘natural level’ following the financial crisis, during which women were disproportionately hit.
ManpowerGroup\'s Fresh Perspectives Paper details specialized solutions for winning today\'s talent war. Learn about winning workforce strategies that help companies become thriving market leaders.
The seventh edition of the Grant Thornton International Business Report focused on
“Women in Business” forms part of Grant Thornton’s global research program into women’s
representation in corporates. This report analyses the various gender diversity programs across the
world to promote more women representation in the senior positions.
Presented at WIFT -International Women Conference for Digital Women, Canada October 25.
In this presentation Dr. Taly Weiss reviews the current state of women in the business world, focusing on digital women.
Taly will present a thesis that connects the new media and the emerging influence of women in developed countries to the rise of women in technology.
The presentation includes practical tips on how women can use Social Media to influence and lead professionally
Women on Boards, Europe’s progress, Spain Grupo Día Societé Générale caseana maria llopis
Women on Boards, Europe’s progress,
Spain Grupo Día
Societé Générale case
The crisis makes more relevant the need for parity and equality precisely due to women talent and abilities, more democratic, unifying, mediator, very experienced in balancing many responsibilities , taking faster decisions and agreements in a multidisciplinary win-win environment overcoming organizational, political and hierarchical barriers
Viven Reding, challenged European largest companies to adhere voluntarily to women equality in Management and Boards with quantitative objectives and dates, as of September only some 10 companies had signed
Women are “Good Business” in Business
There are studies that suggest a correlation between women participation in Boards and top management admin and better results for this companies vs. those that have less women. Mc Kinsey More profit, better risk management, better women talent recruitment and promotion programs
France, whose quota law passed in 2010, had the highest rate of increase in the percentage of women directors among their Fortune Global 200 companies -- from 7.2% in 2004 to 20.1% in 2011.
The second highest rate of increase for women directors belongs to Spain, whose quota for women directors passed in 2007. Its Fortune Global 200 companies improved women’s board representation from 1.9% in 2004 to 9.2% in 2011.
The New Business Imperative: Recruiting, Developing and Retaining Women in th...Kip Michael Kelly
Organizations with women in senior leadership positions outperform those that have none. Yet, one study of the top 1500 U.S. firms revealed that an astounding 70% of top U.S firms have no women in their senior leadership ranks. Many organizations then have the capacity for greater improvement... and greater business results.To help HR and talent management professionals eliminate the persistent gap between men and women in the workforce in terms of pay, career path, and leadership development, this UNC Executive Development white paper:• Explores the business imperative to foster women's roles in organizations• Examines the gap in female representation in leadership positions• Highlights the perception gaps between men and women in how effective organizations are when it comes to recruiting, developing and retaining women• Offers HR and talent management professionals steps they can take to recruit, develop and retain women in organizational leadership rolesDownload this white paper today and learn how to address the female leadership challenge and reap the bottom-line rewards of more fully including women in the workplace.
Awakening diversity in the clean energy sector a key point to achieve sustai...RCREEE
Introducing the latest perspectives on gender engagement in the workforce with specific focus on clean energy by Ms. Fatma M'Selmi Baklouti, CEO & Founder Laur' us Consulting at Enabling Women in Sustainable Energy Field: A Step towards Sustainable Communities - Workshop on the side of
International Beirut Energy Forum on 25 September 2019.
This presentation offers a comprehensive review of the 2017 Women in the Workplace report by McKinsey & Company and LeanIn.org with solutions companies can take to foster gender equality.
https://womenintheworkplace.com/
Equality is not just right in principle, it is necessary for:
Individuals: everyone has the right to be treated fairly and to have the opportunity to fulfil their potential. To achieve this we must tackle inequality and root out discrimination;
The economy: a competitive economy draws on all the talents and ability – it’s not blinkered by prejudice; and
Society: a more equal society is more cohesive and at ease with itself.
Fairness and equality are the hallmarks of a modern and confident society.
Private sector boards hold much power and influence in society. Board members make decisions that affect millions of people and it is only fair that women and men should be represented equally in decision-making.
Produkcja prawa zwolniła, ale nadal przytłacza firmyGrant Thornton
W 2017 r. w życie weszło 27,1 tys. stron nowych aktów prawnych, czyli o 15 proc. mniej niż rok wcześniej. Na tym jednak dobre wiadomości się kończą – wynika z raportu Grant Thornton.
Stabilność prawa to jeden z warunków długotrwałego rozwoju gospodarczego. Nadmierna zmienność regulacji nie tylko utrudnia firmom działalność, naraża je na kary i grzywny, ale też zniechęca przedsiębiorców do podejmowania inwestycji. Żeby mierzyć skalę zmienności prawa, uruchomiliśmy trzy lata temu swój „Barometr otoczenia prawnego w polskiej gospodarce”, czyli projekt badawczy, który na konkretnych liczbach pokazuje, jak dużo prawa produkuje się w Polsce w danym okresie.
10 najważniejszych zmian w podatkach ostatnich dwóch latGrant Thornton
Ranking najważniejszych z punktu widzenia podatnika zmian w przepisach podatkowych, które weszły w życie przez pierwsze dwa lata obecnej kadencji rządu
Polskie firmy nie chcą rozwijać nowych produktów Grant Thornton
Firma, aby się rozwijać, musi stale wprowadzać na rynek nowe produkty i usługi. W innym wypadku zostanie wyprzedzona przez bardziej dynamiczną konkurencję.
Jak pod tym względem wypadają obecnie polskie firmy? Zapraszamy do zapoznania się z wynikami badania przeprowadzonego przez Grant Thornton wśród średnich i dużych przedsiębiorstw z 33 krajów świata
Z przyjemnością prezentujemy kolejną edycję „Purpurowego Informatora”, czyli cyklu analiz, w którym omawiamy ważne dla przedsiębiorców kwestie prawne, księgowe i kadrowe.
Tym razem tematem naszego cyklu jest Jednolity Plik Kontrolny (JPK). Co to jest? Do czego służy? Jacy podatnicy mają obowiązek przekazywania JPK? Odpowiedzi na te i inne pytania znajdą Państwo w poniższym materiale.
Zmiany w przepisach o ochronie danych osobowychGrant Thornton
W maju 2018 roku zacznie obowiązywać unijne rozporządzenie o ochronie danych osobowych. Nowe przepisy będą dotyczyć wszystkich podmiotów, które na terenie UE przetwarzają dane w sposób zautomatyzowany. Warto zapoznać się z najważniejszymi zmianami zachodzącymi w rozporządzeniu i rozpocząć przygotowania już teraz.
Rekordowe wyniki rynku Catalyst w 2016 rokuGrant Thornton
Wartość nieskarbowych instrumentów dłużnych notowanych na Catalyst osiągnęła na koniec czwartego kwartału 2016 roku 81,8 mld zł, co było najwyższym wynikiem od momentu powstania rynku Catalyst – wynika z przygotowanego przez nas raportu pod patronatem Giełdy Papierów Wartościowych w Warszawie.
Festiwalowe szaleństwo na studencką kieszeńGrant Thornton
Średni koszt wyjazdu na festiwal muzyczny latem 2017 r. to 1530,04 zł – wynika z naszego raportu. Spośród największych europejskich festiwali najtaniej spędzisz czas na Coulors of Ostrava. Najbardziej ceną kuszą jednak polskie imprezy, zwłaszcza Przystanek Woodstock.
Grant Thornton’s transactional teams advised on a number of high profile deals throughout Europe in 2016, driving strong outcomes through highly experienced and internationally connected professionals. Grant Thornton’s success was reflected in the number two position (by average deal value) in the ranking of the top ten M&A advisors in Europe.
Z przyjemnością prezentujemy kolejną edycję „Purpurowego Informatora”, czyli cyklu analiz, w którym omawiamy ważne dla przedsiębiorców kwestie prawne, księgowe i kadrowe. Tym razem tematem naszego cyklu jest pakiet zmian w ustawie o rachunkowości, które obowiązują od 2016 roku.
Wpływy transferowe klubów piłkarskiej Ekstraklasy osiągnęły w sezonie 2016/2017 wartość 33,5 mln EUR – wynika z Grant Thornton. To najlepszy wynik w historii.
1. Women in senior management:
setting the stage for growth
Grant Thornton International Business Report 2013
19% 24% 24% 20% 21% 24%
2004 2007 2009 2011 2012 2013
2. This report, based on the latest research from the International Business Report (IBR), explores the global shift in the
number of women at the top of the business world and examines ways to make this growth permanent and parity
possible. Key findings from the survey include:
• women hold 24% of senior management roles globally, a three point increase over the previous year
• there has been a sharp rise in China, with 51% of senior management positions held by women, compared to
25% last year
• the proportion of businesses employing women as CEOs has risen from 9% to 14%
• education and talent management may work in tandem with flexible work arrangements, which 67% of respondents
offer, to increase the number of women in top leadership
• just 19% of board roles around the world are held by women
• although quotas have been put into place around the globe to increase women’s participation in boards, 55% of
respondents oppose such quotas.
Changing perceptions FIGURE 1: PERCENTAGE OF WOMEN IN SENIOR MANAGEMENT
Over the past year, women have grabbed headlines
in every industry and every corner of the globe. In
the arts, more female directors, producers and
writers were able to get their work into cinemas,
television and theatre. In politics, an increasing
number of women won elections: South Korea, for
instance, recently swore in its first female president.
Approximately 17 countries have women as head of
government, head of state or both (a number that,
according to the Inter-Parliamentary Union and 21%
North America
UN Women, has more than doubled since 2005),
and the world average for women in parliament
totaled 20.4% as of 1 February 20131. The
corporate world also saw firsts: Marissa Mayer
broke ground when she took the helm of Yahoo
more than six months pregnant.
Women breaking barriers was the conversation
of the year – from the much-discussed piece in The
Atlantic, “Why Women Still Can’t Have It All,” by
a Princeton professor and former US State
Department official, Anne-Marie Slaughter, to
Facebook’s chief operating officer Sheryl Sandberg
and her new tome, “Lean In: Women, Work and the 23%
Will to Lead”, which addresses how women can Latin America
succeed in the face of gender barriers. Via ‘Lean In’
circles, Sandberg proposes to gather women to
share their stories and create strategies for climbing
the corporate ladder.
1
http://www.ipu.org/wmn-e/world.htm SOURCE: GRANT THORNTON IBR 2013
2 Women in senior management
3. WOMEN AS PERCENTAGE OF SENIOR MANAGEMENT – GLOBAL WOMEN AS PERCENTAGE OF WORKFORCE – GLOBAL AVERAGE
AVERAGE
% %
24 35
31% Russia
%
40 Baltics
25% %
Europe
51 China
19%
7%
%
30 Turkey
India
Japan
32% 22%
28%
South Africa
ASEAN
Australia
28%
New Zealand
Women in senior management 3
4. The benefits of parity FIGURE 2: WOMEN IN SENIOR MANAGEMENT AROUND THE WORLD:
TOP 10
The conversation continues as to whether women will ever
reach parity with men in the workforce. Though the past 40
years have seen a massive generational shift, with more women
China (mainlan
entering the workforce across the globe, more needs to be
done to advance women to senior leadership positions.
Pola
In 2012, though women comprised over a third of the
nd 4
Lat
workforce in the United States, they held a mere 14.3 percent
8%
via
51% d)
43
of executive officer positions at Fortune 500 companies and
Es
%
to
only 8.1 percent of executive officer top-earner positions2. Of
nia
Lit
40
hu
the FTSE 100, women held only 15% of board seats and 6.6% an
%
ia
40
of executive positions in 20123. In the Asia Pacific region, the %
Phil
percentage of women on boards was about half that in Europe, ippi
nes
37%
Australia and North America4.
Georgia
The promising news is that the number of women in 37%
leadership roles is growing. The IBR survey, which includes
Thailand 36%
both listed and privately held businesses, indicates a 3% increase
in the number of women in senior management positions from %
m 33
Vietna
2011 to 2012, with 24% of businesses with women in senior 32
%
ana
management roles globally in 2012 (compared to 21% in 2011). Bo tsw
And more people are taking note that gender diversity at
board and senior management positions promotes corporate
growth. A recent McKinsey review of 100 companies against SOURCE: GRANT THORNTON IBR 2013
the Organizational Health Index (OHI) found that companies
with three or more women in top positions (on the executive
FIGURE 3: WOMEN IN SENIOR MANAGEMENT AROUND THE WORLD:
committee or board) scored higher than their peers5. In a BOTTOM 10
similar vein, another report concluded that the “overall median
proportion of female executives was 7.1% at successful
companies and 3.1% at unsuccessful companies,
Spain 21%
Irela
demonstrating the value that having more females can
US
nd 2
potentially bring to a management team…for start-ups with
20
UK
1%
%
19
five or more females, 61% were successful and only 39% Ind
%
ia
failed”6. In another study tracking results from Fortune 500 19
%
Arg
companies from 2004 to 2008, those companies with the most enti
na 1
8%
women board directors outperformed those with the least by Switz. 1
4%
at least 16% in terms of return on sales and 26% in terms of
Netherl. 11%
return on invested capital7.
1%
Nancy McKinstry, the first woman to run 175-year-old UAE 1
7%
an
Dutch publisher Wolters Kluwer, believes that diversity drives Jap
results, and she has helped draw women to leadership
positions since she stepped up as CEO in 2003. Back then,
SOURCE: GRANT THORNTON IBR 2013
women held only 20% of top leadership posts at Wolters
Kluwer; ten years later, it’s 33%. Says McKinstry, “We’ve been
able to attract female talent because they see women leading
different parts of the company. Diversity helps; it is a self-
fulfilling prophecy.”
2
2012 Catalyst Census Fortune 500 Women Executive Officers and Top Earners
3
Ruth Sealy and Susan Vinnicombe, “The Female FTSE Board Report 2012: Milestone or Millstone?” (Cranfield University, 2012).
4
“Mind the Gap: Half of Asia’s Boards Have No Women, a Risky Position for Governance and Growth,” by Alicia Yi (2011).
5
“Unlocking the Full Potential of Women in the U.S. Economy,” special report produced by McKinsey exclusively for the Wall Street Journal Executive Task Force for Women in the Economy
2011, by Joanna Barsh and Lareina Yee.
6
“Women at the Wheel: Do Female Executives Drive Start-up Success?” by
7
“The Bottom Line: Corporate Performance and Women’s Representation on Boards (2004–2008),” by Nancy M. Carter and Harvey M. Wagner (2011).
4 Women in senior management
5. “We’ve been able to attract female talent
because they see women leading different
parts of the company. Diversity helps; it is
a self-fulfilling prophecy.”
NANCY MCKINSTRY
WOLTERS KLUWER
A shifting landscape of opportunity This is not the case in more patriarchal societies
The increase in the number of senior management like Japan (7%), United Arab Emirates (11%), and
positions occupied by women takes the ratio back Argentina (18%).
up to the levels that preceded the global recession. In Latin America, cultural issues tend to keep
The slump hit women disproportionately, and only women from ascending to senior management
now is a turnaround at hand8. The increase from ranks – the number is 23%, unchanged from last
21% of women in senior management in 2011 to year. Indeed, 38% of companies in Latin America
24% in 2012 is a significant improvement, have no women at all in senior management.
occurring in parallel with the recovery (albeit tepid) Softtek president and CEO Blanca Treviño tells
of the global economy. Grant Thornton/Forbes Insights, “Softtek has
Regionally, Asia Pacific leads with 29% of offices in Asia, Europe, Latin America and in the
senior leadership positions held by women, United States, and probably the toughest one is
compared to 25% in the European Union, 23% in Latin America. Even in Softtek, I cannot deny that
Latin America and 21% in North America. there is a culture issue. If you think about Latin
The country ahead of the pack in Asia is China, America and very specifically about Mexico, even at
with 51% of senior management positions held by a family level, the husband is the boss. When you
women, compared to 25% last year. go and work for a company, one of the things that
“Women have more and more opportunities is difficult for men is to see that the boss is going to
now. Their talent and intelligence are much more be a woman. Sometimes a woman feels that she
respected at higher-level positions,” Mei Hui, board cannot be the boss of 10 or 20 different men.”
secretary of the China Financial Futures Exchange, Despite much negative press coming from India
tells GrantThornton/Forbes Insights. “In my with respect to gender relations, the country might
experience, the proportion of women in senior prove to be the next leader. With only 15% of the
management has definitely increased over the last total employee base occupied by women, 42% of
five years. Women’s power in China is increasing. survey respondents said they had plans to hire more
Still, we have further to go, and it would help if women, especially in senior positions.
companies and institutions offered more “Definitely the number of women on top in
opportunities for women to develop.” banking and finance has increased. Women are
Former Eastern bloc countries including Poland getting earlier career breaks as well. Women who
(48%), Latvia (43%), and Estonia and Lithuania dropped out are being called back by their old
(both 40%) also have healthy representations of companies. The economy is growing and the
women occupying senior decision-making roles. demand for good executives is ongoing,” explains
Kaku Nakhate, the president and country head of
Bank of America Merrill Lynch India.
8
“The Demographics of the Job Recovery,” by Rakesh Kochhar, Pew Hispanic Center (March 21, 2012).
Women in senior management 5
6. “If there can be more planning and implementation of programmes
and policies to offer more opportunities for women, including
internships for female students, apprenticeships and promotion
structures, this would help women in the corporate hierarchy.”
MEI HUI
CHINA FINANCIAL FUTURES EXCHANGE
Education: the leap forward Since the early 1990s, in the United States
The consensus is that change begins with education. women have been attaining bachelor’s degrees in far
According to a recent World Bank report, there are greater numbers than their male counterparts10.
are more women than men studying in universities According to the census, 2010 was the first year in
in 60 countries it researched9. which women earned more advanced degrees than
The same report attributes the great strides in men. In the European Union, 60 percent of
women’s participation in the labour force to graduates from universities in the Union’s 27
increased education. Specifically in Colombia, member states last year were women11.
higher education led to the steepest increase in Elizabeth Truelove McDermott, the vice
women’s labour force participation as well as president of Audit, Ethics and Compliance Services at
representation in senior managerial positions. This DeVry, says that her master’s degree and CPA shaped
could provide an example for Latin America, where her career. “I finished my CPA when companies
just 32% of total employees are female, according had to start complying with the Sarbanes-Oxley
to the IBR survey, and only 15% of survey Act [regulation passed in 2002 to improve financial
respondents say they plan to hire more women in disclosures from corporations and prevent fraud].
senior management. The new career path helped my talent to grow.”
Explains Blanca Treviño: “Forty years ago or Those women who stay ahead of the game with
[in] my mother’s generation, in Mexico, women the rapid pace of technology change will have an
were not expected to go to university; you were advantage when senior management positions open
supposed to get married. The percentage of women up. “You always have to be open to continually
in university at that time was 20 to 25 percent. develop your skills,” advises Wolters Kluwer CEO
Today, you will see 45 percent. That will have an McKinstry. “For me, getting my MBA gave me a
impact on the work level. You see more women whole tool kit.”
looking to have a career. So yes, it is changing.”
9
World Bank 2012 World Development Report: Gender Equality and Development
10
Pew Research Center Social & Demographic Trends project, “Women See Value and Benefits of College; Men Lag on Both Fronts, Survey Finds,” by Wendy
Wang and Kim Parker (August 17, 2011).
11
European Commission data: http://epp.eurostat.ec.europa.eu/statistics_explained/index.php/Tertiary_education_statistics
6 Women in senior management
7. FIGURE 4: CHINA LEADING THE WAY
PERCENTAGE OF WOMEN IN SENIOR MANAGEMENT
China (mainland) 51
Poland 48
Latvia 43
“Women who dropped out are being called Estonia 40
back by their old companies. The economy is Lithuania 40
Philippines 37
growing and the demand for good executives
Georgia 37
is ongoing.”
Thailand 36
KAKU NAKHATE Vietnam 33
BANK OF AMERICA MERRILL LYNCH INDIA
Botswana 32
Russia 31
Germany 31
Taiwan 31
Hong Kong 30
Turkey 30
Creating the pipeline for senior female managers Greece 30
Another key factor in promoting women in the workplace is South Africa 28
talent management. According to a McKinsey report, “If New Zealand 28
companies could raise the number of middle management
Belgium 28
women who make it to the next level by 25%, it would
Peru 27
significantly alter the shape of the pipeline. More women who
make it to senior management share an aspiration to lead, and Singapore 27
more believe that getting to senior leadership is worth the Sweden 27
cost.12” Canada 27
McKinstry has instituted an innovation contest to spur
Malaysia 26
thought leadership at Wolters Kluwer; this also allows her to
France 26
see the pool of candidates coming up the pike and gives more
input to managers when they are seeking people to promote. Global 24
Participation in the innovation programme indicates a passion Finland 24
for work and a dedication to put in the extra hours – both of Italy 24
which are necessary for advancement to senior positions, adds
Denmark 23
McKinstry.
Brazil 23
The problem is typically that in this mid-career space,
women are leaving companies to start families, and companies Mexico 23
need to find solutions to keep the pipeline strong. Armenia 23
Programmes that focus on nurturing talent are critical. Mei Australia 22
Hui recommends internships, apprenticeships and tailored
Chile 22
career paths. “Generally, it would be best if the men in charge
Norway 22
could increase opportunities for women. If there can be more
planning and implementation of programmes and policies to Spain 21
offer more opportunities for women, including internships for Ireland 21
female students, apprenticeships and promotion structures, United States 20
this would help women in the corporate hierarchy. Men
United Kingdom 19
should be more supportive and more caring about the women
India 19
in the workforce and create an atmosphere for mutual
respect,” she explains. In China in particular, such policies are Argentina 18
crucial; 71% of companies surveyed in China do not offer Switzerland 14
flexible working options. Netherlands 11
United Arab Emirates 11
12
“Unlocking the Full Potential of Women in the U.S. Economy,” special report produced by Japan 7
McKinsey exclusively for the Wall Street Journal Executive Task Force for Women in the
Economy 2011, by Joanna Barsh and Lareina Yee. SOURCE: GRANT THORNTON IBR 2013
Women in senior management 7
8. “We have been very good at capturing women [of] talent at the entry
level, but the combination of industry characteristics and culture in
Latin America creates a scenario that has proven to be tough for us
in terms of retaining and developing this mid-level talent.”
BLANCA TREVIÑO
SOFTTEK
Meanwhile, in India, where 49% of those to senior levels. The social and cultural environment
surveyed say they offer flexible working options, in Latin America plays a big role. The industry in
Kaku Nakhate says there is still much room for which we participate tends to be very demanding
improvement: “There are certain infrastructural for mid-management levels. Regardless of gender,
constraints that women executives who are rearing IT services demand very flexible hours and a lot of
children face. Being provided flexible work hours, travel. We have been very good at capturing women
for example, is very important, but all companies [of] talent at the entry level, but the combination of
don’t offer that. Unfortunately, there are rigid industry characteristics and culture in Latin
mindsets, mostly male, that don’t believe in giving America creates a scenario that has proven to be
women opportunities or creating an environment tough for us in terms of retaining and developing
where they can work and express themselves.” this mid-level talent.”
On the flip side, flexible working conditions do If flextime is not available – globally only 67%
not always lead to increased numbers and retention of respondents stated that they offered it – there
of women in top jobs. In Denmark and Finland, may be other ways to keep women in the talent
with 93% and 90% respectively offering flexible pool. India’s Kaku Nakhate admits, “I have spent
work schedules, women represent only 23% and hours trying to persuade women not to quit and to
24% of senior management, and in both countries, take a sabbatical instead. As I said, we face drop-
fewer than 10% of respondents said they were offs in the middle rungs, and if we can’t retain them
seeking to hire more women into top roles over there, they can’t rise to the top.”
the next 12 months. Corporate talent retention policies and flexible
In the United States, where 72% of respondents work options are only one part of the puzzle.
said they offered flexible working options, only Women who remain in the workforce in mid-career
one-third of total employees are women. A recent and higher levels need to have strong support
high-profile and much debated announcement from networks at home. All of the female executives
Yahoo! CEO Melissa Mayer, rolling back the interviewed stated that family networks enabled
company’s work-at-home policy, highlighted the them to climb the corporate ladder, even with
intense debate over the value of flexible work rules. strong cultural biases working against them. Blanca
A memo from Yahoo! human resources informed Treviño explains that not only are some women not
employees that they would not be permitted to expected to work outside the home in Mexico, but
work remotely because “speed and quality are often often other men harass the husbands of working
sacrificed when we work from home.” women about why they allow their wives to work.
Softtek CEO Treviño would like to implement Until such cultural perceptions change, it will be
more flexible work options for employees, but she difficult to find the support women need to work
believes that at senior management levels this is their way up the career ladder.
difficult because of the travel and meeting
requirements of those roles. “Softtek has not been
as successful as I’d like to see in promoting women
8 Women in senior management
9. Growth spurt: more female CEOs globally in FIGURE 5: TOP 5 AND BOTTOM 5 ECONOMIES WITH FEMALE CEOS
ALL BUSINESSES WITH AT LEAST ONE WOMEN IN SENIOR MANAGEMENT
2013 than ever before
Women are increasingly rising to the top. 14% of
those businesses with women in their senior
management teams, have a female CEO, up from Thailand: 49%
9% in 2012. Now 21 of the Fortune 500 CEOs are Denmark: 45%
women, and Yahoo’s Melissa Mayer made headlines
last summer with her appointment to the tech giant
while she was pregnant. After a century of appointing
male CEOs, IBM appointed Ginni Rometty as Germany: 40%
chair, president and CEO. Making further inroads Latvia: 38%
into traditionally male-dominated industries, in
Japan: 29%
2013 Marillyn Hewson took the helm of defense
contractor Lockheed Martin as president and CEO.
Women are also increasing their presence in the
C-suite. The top five positions where women enter India: Hong Kong: Poland: UK:
4% 4% 4% 4% Turkey:
senior management – chief finance officer (31%), 2%
human resources director (30%), corporate
SOURCE: GRANT THORNTON IBR 2013
controller (14%), chief marketing officer (13%) and
sales director (13%) – all saw increases in the
number of women over the past year. As women
take on greater roles in the C-suite, they’re better
positioned for management to consider them for
the top spot.
A new study by ACCA (Association of
Chartered Certified Accountants) and the
Economic and Social Research Council from
Cranfield School of Management indicates that
women who have a finance background find more
success on the corporate boards of FTSE
companies; the report states that 45% of female
executive directors are financially qualified and
65% in total have a financial background13.
McKinstry does caution women not to
pigeonhole themselves: “Too often women will go
into roles that don’t show results. They take on
more support functions, such as head of human
resources or head of legal, rather than a line
function. If you can demonstrate results, it is better
for advancement.”
Softtek’s Treviño sees travel as an obstacle for
women juggling career and family and trying to “Travel presents difficulties for women
climb the corporate ladder. “Travel presents – they need much more support from
difficulties for women – they need much more
support from their families if they want to reach
their families if they want to reach
senior positions, which imply travel. If you think senior positions.”
about marketing or human resources or probably
BLANCA TREVIÑO
other departments, it’ll be much easier for us to say,
SOFTTEK
‘OK, you can work from home or work part-time.’”
13
http://www.accaglobal.com/content/dam/acca/global/PDF-
technical/human-capital/pol-tp-cgs.pdf
Women in senior management 9
10. FIGURE 6: TOP TITLES OCCUPIED BY WOMEN
2013 VS 2012
31 30
21
14
13 14
13 13 13
8 8
Chief Finance Officer Human Resources Director Corporate Chief Marketing Sales
Controller Officer Director
2013 2012
SOURCE: GRANT THORNTON IBR 2013
The need to travel and the long hours required Despite the increase in the number of women in
in senior leadership positions hold true across all senior leadership positions, and the move to
industries, though some sectors see more women in improve programmes to promote women,
top management than others. Healthcare leads the especially on corporate boards, quotas remain on
pack with 45% of women in senior management, the table to move the process along.
followed by education and social services (44%), Quotas for the number of women on boards
hospitality (41%), cleantech (33%) and financial have many advocates: “The proof is in the pudding;
services (29%). regulatory pressure works,” Viviane Reding, the
Kaku Nakhate reveals that in India the banking EU justice commissioner, said in a statement to the
industry offers a stable career for female executives: International Herald Tribune. In France, legislation
“Banks are recognising that diversity is important, passed in January 2011 – requiring that within three
as their customer universe is so diverse and half of years 20% of a company’s board members must be
their clients are women. So they are seeking out women, rising to 40% in six years – led to an
women, especially in front-end, client-facing jobs. increase in women directors, from 12.7% to 16.6%
We offer flexible working hours and training in 2012. In fact, almost nine out of 10 companies in
programmes, and allow women executives to go on France have at least one woman director. In
sabbaticals. Banks are also developing mentoring Australia, following passage of a corporate
networks within that can help women executives governance code amendment dealing with diversity,
who are facing a career problem.” the proportion of women on corporate boards
increased from 10.2 percent to 13.8 percent within
Quotas: working but not favored two years15.
Gender diversity on boards elevates companies in Globally, 55% of respondents surveyed said
the eyes of investors, according to a recent study: that they would not support the introduction of
“We find that the market reaction to female quotas for the number of women on executive
appointees is, on average, positive and significant. boards of large listed companies, versus 37% who
This suggests that the market does not perceive the would. The female executives we interviewed also
appointment of female directors to be primarily view quotas with some unease.
motivated by tokenism. Moreover, the average
reaction for female appointees is roughly two
percent higher than for male appointees even after
controlling for other appointee characteristics, such
as independence, expertise and qualifications.14”
14
“Does Gender Matter in the Boardroom? Evidence from the Market Reaction to Mandatory New Director Announcements,” by Renee B. Adams, University of
New South Wales; Financial Research Network (FIRN); European Corporate Governance Institute (ECGI), Stephen Gray, University of Queensland – Business
School; Duke University – Fuqua School of Business; and John Nowland, City University of Hong Kong.
15
GMI Ratings’ 2012 Women on Boards Survey.
10 Women in senior management
11. Says Blanca Treviño, “If there were quotas FIGURE 7: WOMEN ON BOARDS
PERCENTAGE OF BOARD OF DIRECTOR ROLES HELD BY WOMEN
involved, there would always be the question that
you’re there not because you are the most qualified Russia 37
for that seat but because the company needed or Thailand 35
wanted to meet those quotas.” However, perhaps
Philippines 34
because of the male-dominated business culture in
Vietnam 30
Mexico, 65% of Mexican respondents said they
would support the introduction of quotas. Latvia 30
In China, which leads the percentage of women Global 19
in senior management this year, 72% of respondents
Brazil 13
favour board quotas to promote women. “For
governmental organisations, it can definitely help. Malaysia 13
But for commercial sectors, we need to respect the UAE 12
market value. A certain percentage of women in the
Switzerland 7
boardroom are very helpful for avoiding risk and
making good business decisions,” says Mei Hui of Japan 7
the China Financial Futures Exchange. SOURCE: GRANT THORNTON IBR 2013
In India, where women are just coming up in
the ranks, there is no consensus on quotas. Kaku
Nakhate’s opinion reflects this dichotomy: But McKinstry and the other executives
“Personally, I’m against quotas, because I believe in interviewed remain positive; the seeds of change have
meritocracy, and that should not be compromised been planted and the 2013 IBR survey shows the
for the sake of filling a board seat. If the woman results. Emerging markets in Asia and Latin America
doesn’t deserve being on the board, what would she will see the greatest change in the years to come.
contribute? Having said that, we need quotas so “I really see that the younger generation will
that it sets a goalpost for companies. In India, we soon overtake us. There will be no glass ceiling for
definitely need regulation as women are so poorly them. The younger generation—look at my
represented on corporate boards.” daughter as an example—are very talented and very
motivated. In the near future, they will be teaching
Future outlook: positive us,” says Mei Hui.
Significant obstacles remain to reaching parity in Blanca Treviño concurs: “In Latin America, the
senior leadership posts and corporate boards. In her women who graduate from the universities today
essay in The Atlantic, Anne-Marie Slaughter are going to be the professionals in five years and
explored these challenges, especially those posed by will look for those senior positions in 10 years. It’s
work-life balance. She sees no easy answers until not at the speed that we would like, but I do think
there is a cultural shift recognising that women need that in 10 years, it will have improved.”
more support16.
“Expectations are higher of women,” says Wolters
Thanks to the following:
Kluwer’s McKinstry. “Women have to achieve better
Mei Hui, board secretary, China Financial Futures Exchange
results because there are fewer of them.” Elizabeth Truelove McDermott, vice president, Audit, Ethics and
McKinstry adds that women face judgement Compliance Services, DeVry
Nancy McKinstry, CEO and chairman of the executive board,
based on the whole person, not just the company’s
Wolters Kluwer
performance, making scrutiny of female leaders Kaku Nakhate, president and country head, Bank of America Merrill
even more acute: “Women are judged on how they Lynch India
dress, how they look, their work-life balance.” Blanca Treviño, president and CEO, Softtek
16
http://www.theatlantic.com/magazine/archive/2012/07/why-women-still-
cant-have-it-all/309020/
Women in senior management 11