Despite seemingly making progress in gender-related initiatives, landing 25th out of 146 countries and first in Asia in the latest World Economic Forum Global Gender Gap report, there is still a lot of work to be done to achieve diversity, equity, and inclusion in Executive Leadership Teams (ELTs) in the corporate sector, particularly in publicly listed corporations.
That was the topic of the Census of Women in ELTs that was recently launched by the Philippine National Women’s Economic Network through its inaugural project, the Philippine Business Coalition for Women Empowerment.
The census found that women’s representation in ELTs have gradually increased, from only 38 percent in 2020, to 40 percent in 2022. However, more women in ELTs still occupy functional roles, instead of line roles that are mainly responsible for driving organizational goals and directions.
The study also reveals a gradual increase in the representation of women on the board of directors, where a continuous 1 percent increase was observed in the three-year reference period.
Still, despite the rising representation, women CEOs remain underrepresented in ELTs, with only 13 percent representation as of 2022.
It found that most PLCs have broad diversity policies. However, those need to be complemented by concrete targets in order to be measured and ultimately achieved, highlighting the need for everyone to continue the work of advocating gender balanced workplaces and supporting women to rise up to leadership positions.
It called on organizations to intentionally adopt policies and implement programs that address identified gender issues in workplaces to drive positive change. More collaborative efforts are likewise needed, not only among industry players, but also between the private and public sectors and other nongovernmental entities.
Additionally, as individuals, we need to embody the values and principles of equality, fairness, and respect for others to influence and create impact in workplaces.
As we strive to close the gender gap at all levels of opportunity, including the very top, let us keep those values and principles in mind so that everyone gets an equal chance to shine, excel, and lead, based on their qualifications and capabilities.*
