Women in Business 2024

Pathways to accelerate progress towards gender parity in senior management

While the percentage of women in senior management roles globally has increased from 19.4% to 33.5% over two decades, progress remains minimal in Botswana. As per recent survey by Grant Thornton Botswana (GTBW) in February 2024, 81% of respondents say that the number of women occupying senior management roles in their organizations are on the lower side.

The GTBW survey reveals that the slow progress for women in business trend is witnessed across all industries in Botswana. National Development Bank CEO, Ms. Ogone Madisa has noted that, “Organizations should be intentional about increasing women representation in Senior management to address inclusion and equity”.

Coinciding with International Women’s Day, Grant Thornton International (GTIL) has released "Pathways to Parity: 20 Years of Women in Business Insights", marking two decades of dedicated research aimed at monitoring and measuring the representation of women in senior management roles within mid-market companies worldwide.

The GTIL report identifies three clear pathways for businesses to accelerate progress towards gender parity in senior management: assigning responsibility for diversity, equity, and inclusion (DE&I) to both a C-suite member and a female senior leader.

Leadership: A member of the C-suite needs to take responsibility, but they must work alongside a female senior leader.

Strategy: A clear strategy must be in place. Businesses must have specific DE&I goals, and they must regularly measure success.

Ways of working: Businesses that offer greater flexibility have a higher percentage of senior management roles held by women.

The GTIL report aligns with the GTBW survey on the importance of the implementation of additional measures for women’s career progression. According the GTBW survey results, the following are key initiatives by organizations to improve engagement and inclusion of women:

• 18% of respondents are encouraging senior management to act as a role models/ champions;
• 15% are developing or have developed new working practices to better engage women;
• 15% are monitoring women’s physical and mental wellbeing;
• 14% are promoting work/life balance and and/or flexibility for employees.

According to Grant Thornton Managing Partner, Kalyanaraman Vijay, “As the economy continuously adapts to ever-increasing changes, we cannot afford to lose focus on the push for gender parity”. Vijay further urges businesses to heed the call for action and seize the opportunity to drive meaningful change, to ensure a prosperous and equitable future for all.

Women in Business Report 2024

For 20 years, Grant Thornton has cast a light on issues surrounding gender diversity in senior management among the world’s mid-market businesses, exposing barriers and identifying actions for change.