Increasing Women’s Representation in Business Leadership
Better gender balance in business leadership is inextricably linked with achieving the Sustainable Development Goals (SDGs). By definition, attainment of SDG 5, gender equality, is impossible without women’s equal representation at the top. Women leaders are levers of change for all SDGs, as they prioritize social protections, health, education, climate, and inclusivity. Having more women in leadership is positively correlated with higher environmental, social, and governance (ESG) standards, leading to improved business performance and inclusive economic growth. Yet, enormous gender gaps in corporate leadership persist. Globally, women hold only 19.7 percent of board seats, and 6.7 percent of board chair, 5 percent of CEO, and 15.7 percent of CFO positions. Unconscious and cultural biases, lack of opportunities, and other workforce barriers can limit women’s professional aspirations and narrow leadership paths. While direct cause-and-effect links cannot always be demonstrated, World Bank Group interventions that address the root causes of gender gaps in business leadership offer strong potential for progress. This note examines World Bank Group experience and provides several strategies that other programs can consider to accelerate the pace at which women ascend to senior leadership positions.
| Main Authors: | , |
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| Format: | Policy Note biblioteca |
| Language: | English en_US |
| Published: |
Washington, DC: World Bank
2023-06-09
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| Subjects: | WOMEN, GENDER EQUALITY, GENDER BALANCE, BUSINESS LEADERSHIP, SUSTAINABLE DEVELOPMENT GOALS, SDGs, GENDER GAPS, |
| Online Access: | http://documents.worldbank.org/curated/en/099429406072322093/IDU0535e1bf4013ac0442c096a3057aa131426e7 https://openknowledge.worldbank.org/handle/10986/39870 |
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| Summary: | Better gender balance in business
leadership is inextricably linked with achieving the
Sustainable Development Goals (SDGs). By definition,
attainment of SDG 5, gender equality, is impossible without
women’s equal representation at the top. Women leaders are
levers of change for all SDGs, as they prioritize social
protections, health, education, climate, and inclusivity.
Having more women in leadership is positively correlated
with higher environmental, social, and governance (ESG)
standards, leading to improved business performance and
inclusive economic growth. Yet, enormous gender gaps in
corporate leadership persist. Globally, women hold only 19.7
percent of board seats, and 6.7 percent of board chair, 5
percent of CEO, and 15.7 percent of CFO positions.
Unconscious and cultural biases, lack of opportunities, and
other workforce barriers can limit women’s professional
aspirations and narrow leadership paths. While direct
cause-and-effect links cannot always be demonstrated, World
Bank Group interventions that address the root causes of
gender gaps in business leadership offer strong potential
for progress. This note examines World Bank Group experience
and provides several strategies that other programs can
consider to accelerate the pace at which women ascend to
senior leadership positions. |
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