Business report

Women in Business Report | Philstar.com

MANILA, Philippines – As the war for talent rages on, more than 70% of companies are now working to create a more inclusive environment to attract and retain female talent, according to the Women in Business study by Grant Thornton International Ltd. leaders of 5,000 companies in 29 economies.

In the Philippines, although the number of female leaders in leadership positions has increased from 48% in 2021 to 39% in 2022, the country still ranks third in the list of countries that recorded the highest number of female leaders in medium-sized companies. This year’s figure also remains in line with the average percentage of women in leadership positions in the ASEAN region.

According to Marivic Españo, President and CEO of P&A Grant Thornton, “The path to global business resumption amid the disruptions of the new normal is always difficult. Midsize companies face major challenges like winning the talent war and accelerating their digital transformation initiatives. Despite these challenges, we see a lot of potential for companies that commit to leveling the playing field and promoting gender parity in the workplace. Embracing a forward-looking mindset with a vision to mitigate gender bias will enable businesses to improve performance and ultimately increase productivity.

In the Philippines, 39% strongly agree that indeed new work practices have benefited women during the pandemic. Over the long term, the majority or 56% of respondents nationwide expressed optimism that these business practices will continue to drive and advance women’s career trajectories. Compared to data showing glacial progress in increasing the number of women in leadership positions, respondents in the Philippines consistently indicated that their companies are employing new ways of working to create a more inclusive environment for female talent.