australian-aid-white-2
Follow us on:

Published by: Grant Thornton, 2017

Country / Region: Regional/global

Women in Business: new perspectives on risk and reward

30 March 2017

The Women in business: New perspectives on risk and reward report from Grant Thornton surveys the role of women in business and considers the issue of risk and reward. The report explores the different ways in which men and women see risk and opportunity, and how they act differently as a result.

The report considers how companies can recognise, celebrate and seize upon these differences. The report also provides a number of recommendations on how to increase the number of women in senior leadership positions for the benefit of businesses as a whole, and risk strategies in particular.

Highlights

  • Women in ASEAN economies held 36% of senior management roles in 2017, increasing from 34% in 2016. Among ASEAN countries, Indonesia and the Philippines had the highest proportion of women in senior management, at 46% and 40%, respectively.
  • The report finds that diversity is key to business success. With a mixture of men and women at the helm, companies are better prepared for all eventualities. And yet, in 2017 the needle has barely shifted. Each year, the report seeks to add new insights and recommendations that will further understanding of and solutions for greater gender diversity.
  • Risk management is the process of identifying, evaluating and managing uncertainty. It is vital for business success. Men and women perceive and respond to risk in different ways, contrasting in how they balance speed and decisiveness with careful consideration. Brought together, these strengths facilitate effective risk strategies for the sustainable growth of dynamic businesses.
  • The proportion of senior leadership roles held by women has moved by just one percent in 12 months – from 24% in 2016 to 25% in 2017 – and four percent in the last five years. Moreover, the percentage of businesses with no women in senior leadership has risen at the same rate – from 33% in 2016 to 34% in 2017 – with no improvement since 2012.
  • Diversity is a commercial imperative. Broaden the diversity of a group and you widen its peripheral vision. Diverse teams benefit from connections to a wider network, increased legitimacy among stakeholders and better decision-making. But despite a growing consensus among business leaders on this issue, the pace of change is painfully slow.
  • A growing area of study also explores the tendency for women to be mentored and not sponsored. Mentoring involves support and advice offered by an employee to another employee a level or more below them in the company structure. It should be a private, developmental relationship between two people. A sponsor, on the other hand, advocates for employees below them at the decision-making table when it comes to staffing high-profile projects and promotions. They have the power to effect change on women’s behalf.

Contents

  • Foreword from Francesca Lagerberg
  • Executive summary
  • Diversity in leadership
  • Gender and risk
  • Recommendations
  • How Grant Thornton can help

Related Resources

Counting Women’s Work in the Philippines

The value of women’s unpaid work in the Philippines is worth trillions of pesos, according to a senior research fellow of the country’s premier think tank Philippine Institute for Development Studies (PIDS).

Women in the Philippine C-Suite

This report explains the 4 key interplaying factors – individual, family, corporation culture and societal pressures – that puts a pressure to the rise of women in the corporate ladder.

East Asia Forum Quarterly Vol.11 No.1: Investing in Women

This issue of EAFQ touches on key economic and social questions that affect gender equality in Southeast Asia and East Asia, delving beneath the aggregates and measurement challenges.

Moving toward gender balance in private equity and venture capital

This report explores the link between financial returns and gender diversity; the lack of women in the industry; and steps needed to achieve gender balance.

Catalytic Capital for Women’s Economic Empowerment: Report of the External Review of Component 2 of the Investing in Women Initiative

This report summarises the findings and recommendations of the external review of Component 2 (C2) on impact investing of the Investing in Women Initiative (IW) funded by Australia’s Department of Foreign Affairs and Trade (DFAT).

Investing in Women Phase 2 Investment Design Document Update

This updated Investment Design Document for Investing in Women reflects the opportunities and constraints of the evolving operational environments; the policy and budgetary settings of the Australian Government; and the lessons from Phase 1 implementation as identified through an independent Review process.

The Global Gender Gap Index Report 2018

This report benchmarks national gender gaps on economic, education, health and political criteria, and provides country rankings that allow for effective comparisons across regions and income groups.

 

Gender Lens Investing Tool: Designing an Action Plan

This toolkit for gender lens investing supports the design of an investment strategy with considerations for how gender dynamics might present risks and opportunities. It provides a framework to consider building a gender lens into new or existing strategies.

Five years of Workplace Gender Equality Agency data

This fact sheet/booklet provides a detailed picture of the state of gender equality in Australia’s workplaces. The report is compiled by the Workplace Gender Equality Agency using 5 years of reporting data.

Game changers: Women and the Future of Work in Asia and the Pacific

This report examines the situation of women in Asia and the Pacific and analyses progress and obstacles in terms of gender equality in the world of work.

The Landscape for Impact Investing in Southeast Asia

This report provides a comprehensive analysis of impact investing activity and trends between 2007 and 2017 in 11 countries: Brunei, Cambodia, East Timor, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

The power of parity: Advancing women’s equality in Asia Pacific

This report from the McKinsey Global Institute explores the challenge of gender inequality in Asia Pacific and considers what it will take to deliver gender parity in the region.

Gender Gap in Earnings in Vietnam: Why Do Vietnamese Women Work in Lower Paid Occupations?

This report analyses the gender earnings gap in Vietnam and explores why women choose to work in lower paid occupations.

Still looking for room at the top: Ten years of research on women in the workplace

The article provides an overview of McKinsey’s research in the last 10 years on women in the workplace. It presents a strong business case for gender equality while also presenting the many barriers that have been preventing progress.

Entrepreneurship Development Interventions for Women Entrepreneurs

This report presents key findings of interventions promoting small and medium enterprises as a means to create more and better jobs.

Filipino women in leadership: Government and industry

This report presents current statistics on representation of women in key leadership positions in the Philippine government and industry. It reveals a dearth of female representation and discusses recommendations to address this.

The Global Gender Gap Report 2017

The report benchmarks 144 countries on their progress towards gender parity and provides country rankings that allow for effective comparisons across regions and income groups.

Women-owned enterprises in Vietnam: Perceptions and potential

This report exposes misconceptions facing women entrepreneurs in Vietnam and elucidates the opportunities for banks and related service providers to meet their needs.

Moving Toward Gender Diversity in Southeast Asia

This report analyses interviews with executives from over 25 prominent companies in Southeast Asia to understand their perspectives on diversity, the obstacles they have faced, and the effectiveness of activities they have launched to increase gender diversity across their organisations.

The analysis points to important opportunities to help improve the participation rate of women in business in Vietnam.

The analysis points to important opportunities to help improve the participation rate of women in business in Vietnam.

Entrepreneurship and the entrepreneur: A literature review

This report undertakes a review of the literature on entrepreneurship and the entrepreneur, with a focus on understanding how levels of economic development and gender differences impact entrepreneurship.

World Employment and Social Outlook: Trends for women 2017

This report examines the global and regional labour market trends and gaps, including in labour force participation rates, unemployment rates, employment status as well as sectoral and occupational segregation.

International standards on women and work in the Philippines

This report provides an overview of the international standards on women and work, and explores to what extent they have been implemented in the Philippines.

Female Entrepreneurship in Asia: The Case of Japan, South Korea, Malaysia and Vietnam

This report concentrates on the significance given to female entrepreneurship in Japan, South Korea, Malaysia and Vietnam, and on the policies pursued to promote it.

Towards a better future for women and work: Voices of women and men

This report provides a first-ever account of global attitudes and perceptions of women and men regarding women and work, based on the 2016 Gallup World Poll.

Work and Economic Participation in the Philippines

This factsheet from the Philippine Statistics Authority focuses on the latest statistical updates on women and men in the country. The 2017 edition contains 84 indicators covering 14 socio-economic sectors and gender concerns.

Towards Gender Equality in Vietnam: Making Inclusive Growth Work for Women

This report examines Vietnam’s economy through a gender lens, analysing the distribution of productive resources across different groups of women and men; gender segmentation in the labour market; and female workers’ working conditions and pay.

Women and Men in the Philippines

This report is the fourth in a series of statistical handbooks and presents the available and relevant gender statistics in the Philippines from 2000 to 2015.

Closing the gender pay gap: A review of the issues, policy mechanisms and international evidence

This report reviews the key issues, policy mechanisms and international evidence with respect to closing the gender pay gap. The core focus is on wage setting institutions and their impact on inclusive and gender equitable labour markets.

The CS Gender 3000: The Reward for Change

This report explores the link that exists between diversity and improved business performance, and the measures the progress made on structural changes and development of women talent.

Gender Diversity in Boards and Performance of Philippine Publicly Traded Firms: Do Women Matter?

This article examines this board-level gender diversity issue for the case of the firms traded in the Philippine Stock Exchange during the period 2003 to 2014.

Getting to Equal: How Digital is Helping Close the Gender Gap at Work

This report examines the extent to which men and women have adopted and embraced digital technologies, and the influence that has had on their education, employment and advancement.

Social Determinants of Gender Inequality in Vietnam

This report addresses the question of why progresses has been so slow on gender equality in Vietnam, exploring the challenges and barriers that hinder the efforts in bridging the gap between genders.

Women at Work Trends 2016

This report provides the latest data on women’s position in labour markets, examines the factors behind these trends and explores the policy drivers for transformative change.

Women in business and management: Gaining momentum in Asia and the Pacific

This report brings together the most recent statistics, trends and information on the situation of women in business and management in order to provide insight into practicalities, realities and understandings of companies in the Asia-Pacific region.

Women in the Workforce: An Unmet Potential in Asia and the Pacific

This report looks into the complex and varied causes behind the gap in economic empowerment between males and females across Asia and the Pacific, then analyses the available evidence for its implications to economic growth.

Gender Equality in Recruitment and Promotion Practices in Vietnam

This report aims to provide a reliable estimate of the economic costs of domestic violence in Vietnam, including potential opportunity and productivity loss to the national economy.

The motherhood pay gap: A review of the issues, theory and international evidence

This report provides a detailed review of the issues, theory and evidences around the pay gap between mothers and non-mothers, and between mothers and fathers. The motherhood pay gap is distinct from the gender pay gap, which measures the pay gap between all women and all men in the workforce.

Women in Business and Management: Gaining momentum

This report brings together available data and statistics to provide a comprehensive, up-to-date and global picture of women in the business world and in management positions.

Maternity Protection in SMEs: An international review

This review provides a detailed analysis of the key international literature on the outcomes of maternity protection in small and medium-sized enterprises, and addresses how maternity protection in SMEs can generate positive outcomes for enterprises as well as broader society.

New Evidence on the Gender Wage Gap in Indonesia

This report explores how Indonesia’s economic growth and rapid urbanisation in recent years is contributing to the gender income gap. The study examines how monthly wages are distributed between male and female workers and tests whether a wage gap exists between them.

Gender Equality in the Labor Market in the Philippines

This report documents the nature and extent of gender inequalities in the Filipino labour market. The report also shares promising initiatives that have been developed to counter gender discrimination and promote equality for working men and women.

Gender-related Obstacles to Vietnamese Women Entrepreneurs

This report analyses the traditional, regulatory, and internal gender-based obstacles that influence Vietnamese women entrepreneurs in starting and running their businesses and provides policy implications for promoting women’s entrepreneurship and gender equality in Vietnam.

Women’s Entrepreneurship Development in Vietnam

This report provides a detailed analysis of the roles, constraints, obstacles, opportunities and development of women entrepreneurs in Vietnam.

How gendered is recruitment? The case of Indonesia and the Philippines

This report discusses the connection between cultural expectations around gender roles and the degree of gender diversity in the workplace in Indonesia and the Philippines.

Investing in Women: Early stage Investment models

This is the 2nd edition in a series of reports exploring the difficulties around raising capital for women’s small to medium enterprises, and the role that impact investing can play in achieving women’s economic empowerment.

Labour rights for women in the Philippines, Indonesia, Myanmar and Vietnam: Protection, Equality, Disruption

This report considers the relationship between labour legislation and women’s economic empowerment, and examines that current status of labour laws across the Philippines, Indonesia, Myanmar and Vietnam.

Tailoring Finance for Women’s SMEs

The 1st in a series, this publication focuses on Ernst and Young’s (EY)’s commentary on topics such as tailoring finance for women led or owned SMEs (women’s SMEs) and differences in investment models; and consideration as to which model maybe preferable for women’s SMEs.

Is Gender Diversity Profitable? Evidence from a Global Survey

This report examines the impact of gender diversity on corporate performance. It uses a global dataset of firms to analyse this correlation.

Women’s Economic Empowerment Framework

This report provides a framework for monitoring Investing in Women’s contribution to the goal of accelerating women’s economic empowerment in Southeast Asia and contributing to inclusive economic growth.

Exploring cross-industry connectedness in corporate governance networks in Vietnam

This report explores the degree to which individual directors are sitting on multiple corporate boards in Vietnam, and the impact this has on the gender diversity of the country’s business sector.

Aid flows and women and work in South East Asia

This report analyses aid flows to Southeast Asia, and the degree to which overseas development funding is spent on projects promoting women’s economic empowerment.

Women’s rights as workers under CEDAW in Vietnam

This report analyses Vietnam’s adoption of the Convention on the Elimination of all Forms of Discrimination against Women in relation to women’s rights as workers.

Women’s rights as workers under CEDAW in the Philippines

This report analyses the Philippines’ adoption of the Convention on the Elimination of all Forms of Discrimination against Women in relation to women’s rights as workers.

Women and Entrepreneurship in Vietnam

This report examines the state of small to medium enterprises in Vietnam, and the contribution that women-owned businesses make to the Vietnamese economy.

Women and Entrepreneurship in the Philippines

This report examines the state of small to medium enterprises in the Philippines, and the contribution that women-owned businesses make to the Philippine economy.

Women and Entrepreneurship in Indonesia

This report examines the state of small to medium enterprises in Indonesia, and the contribution that women-owned businesses make to the Indonesian economy.

Women’s rights as workers under CEDAW in Myanmar

This report analyses Myanmar’s adoption of the Convention on the Elimination of all Forms of Discrimination against Women in relation to women’s rights as workers.

Women’s rights as workers under CEDAW in Indonesia

This report analyses Indonesia’s adoption of the Convention on the Elimination of all Forms of Discrimination against Women in relation to women’s rights as workers.

Entrepreneurship and the entrepreneur: A literature review

This report undertakes a review of the literature on entrepreneurship and the entrepreneur, with a focus on understanding how levels of economic development and gender differences impact entrepreneurship.

Voices of women in entrepreneurship

This report examines the nature of women’s entrepreneurship, and the characteristics and challenges that are specific to women entrepreneurs.

Stories of women-owned enterprises: Tòhe (Vietnam)

This report showcases Tòhe: a woman-owned social enterprise in Vietnam. The case study tells the story of the business and explores the success and challenges it faces.

Exploring cross-industry connectedness in corporate governance networks in the Philippines

This report explores the degree to which individual directors are sitting on multiple corporate boards in the Philippines, and the impact this has on the gender diversity of the country’s business sector.

Exploring cross-industry connectedness in corporate governance networks in Indonesia

This report explores the degree to which individual directors are sitting on multiple corporate boards in Indonesia, and the impact this has on the gender diversity of the country’s business sector.

International standards on women and work in Myanmar

This report provides an overview of the international standards on women and work, and explores to what extent they have been implemented in Myanmar.

International standards on women and work in Indonesia

This report provides an overview of the international standards on women and work, and explores to what extent they have been implemented in Indonesia.

Philippine Business coalition analysis

This report provides an overview of the Philippine Business Coalition for Women’s Empowerment, and explores its key characteristics, challenges and opportunities.

Gender diversity in corporate governance

This report highlights key research findings on gender diversity in corporate governance, and explores opportunities to improve women’s participation on boards.

Gender equality and empowerment – key concepts

This report explores key concepts around gender equality and empowerment, emphasising the dual importance of gender equality policies and an enabling institutional environment.

Indonesia Business coalition analysis

This report provides an overview of the Indonesia Business Coalition for Women’s Empowerment, and explores its key characteristics, challenges and opportunities.

Gender participation and influence in corporate governance networks in Vietnam

This report provides an overview of corporate governance principles and structures, and explores how corporate governance connectedness in Vietnam can influence women’s economic empowerment.

Gender participation and influence in corporate governance networks in the Philippines

This report provides an overview of corporate governance principles and structures, and explores how corporate governance connectedness in the Philippines can influence women’s economic empowerment.

Gender participation and influence in corporate governance networks in Indonesia

This report provides an overview of corporate governance principles and structures, and explores how corporate governance connectedness in Indonesia can influence women’s economic empowerment.

to top