Women in Business Report

MANILA, Philippines — As the war for talent rages on, more than 70 percent of businesses are now working to create a more inclusive environment to attract and retain female talent according to Grant Thornton International Ltd.’s Women in Business research, which surveys senior leaders from 5,000 businesses across 29 economies.

In the Philippines, although the number of female leaders in senior management roles dipped from 48 percent in 2021 to 39 percent in 2022, the country still ranked third in the list of countries that recorded the highest number of women leaders in mid-size firms. This year’s figure also remains in line with the average percentage of women in leadership roles across the ASEAN region.

According to Marivic Españo, chairman and CEO of P&A Grant Thornton, “The road to overall business recovery against the background of disruptions in the new normal is still a challenging one. Mid-size firms are confronted with major issues like winning the war for talent and accelerating their digital transformation initiatives. Despite these challenges, we see a lot of potential for companies committed to levelling the playing field and promoting gender parity in the workplace. Embracing a forward-looking mindset with a vision to mitigating gender bias will allow firms to deliver improved company performance, and ultimately, lead to greater productivity.”

In the Philippines, 39 percent strongly agreed that indeed, new work practices have benefitted women during the pandemic. In the long term, majority or 56 percent of respondents from the country expressed optimism that these corporate practices will continue to boost and advance women’s career trajectories. Compared with data showing glacial progress in the increase of the number of women in senior management positions, respondents from the Philippines still cited that their companies are employing new ways of working to create a more inclusive environment for female talent.