Women hold 19.7 percent of board seats globally, showcasing a 2.8 percent increase in 2021 compared to 2019, according to the seventh edition of the Women in the boardroom: A global perspective report released by Deloitte Global in collaboration with The 30% Club.
The latest edition of the report reveals that in all eight major regions, including North America, Latin and South America, the Caribbean, Africa, Europe, the Middle East and North Africa, Asia, and Australasia, at least 10 percent of board seats are occupied by women.
Lamisse Muhtaseb, the purpose, culture, and inclusion director at Deloitte Middle East, said: “The Middle East region, notably the UAE and KSA are achieving significant strides towards gender parity, with defined female representation targets on board and other leadership positions being put in place for tangible and measurable progress.
“Many companies and government bodies are investing in gender balance programs and initiatives, preparing women to serve on boards and creating a fertile ground for increased representation of women in the Middle Eastern corporate landscape.”
However, with notable exceptions around the globe, progress on this front has been slow. Yet, the slight acceleration provides some reason for optimism given that the 2019 iteration of the report stated that the world would not reach gender parity until 2052.
Austria, Canada, Ireland, Italy, Poland, Portugal, Spain, the UK, and the US saw the most notable increases. If this rate of change were to continue, the world could expect to reach something near parity around 2045, the report clarified.
Rana Ghandour Salhab, the people and purpose partner at Deloitte Middle East, said: “While it’s heartening to see that the world continues to make progress towards achieving gender parity, with the exception of a few countries, overall progress remains slow and uneven.
“The pandemic has further challenged progress in achieving equality, making it even more important to move past discussion and take concrete actions to ensure inclusion within and beyond the boardroom including gender, ethnic and racial diversity among other characteristics. Increasing the number of women on boards is only the first step on a longer journey.”
This year, Deloitte Global collaborated with The 30% Club, whose mission is to achieve at least 30 percent representation of women in board seats and executive leadership among all listed companies.
The report provides a short summary of the “story on the ground” for each country where the 30% Club maintains a chapter, portraying a world of uneven progress.
The latest edition of the report includes updates from 72 countries on representation of women in the boardroom, exploring insights on the political, social, and legislative trends behind these numbers.
The report found that nearly all countries have local organisations or governments committed to increasing the number of women serving on company boards.
While these private and public sector efforts demonstrate steps toward achieving parity, the pace of collective progress needs to pick up.
Disproportionate progress for women in leadership positions
The latest research found that only 6.7 percent of board chairs are women, representing just a 1.4 percent increase from 2018.
Even fewer women – 5 percent – hold the CEO role, representing only a 0.6 percent increase from 2018.
However, Deloitte Global’s research revealed a positive correlation between female CEO leadership and board diversity.
Companies with women CEOs have significantly more women on their boards than those run by men – 33.5 percent vs. 19.4 percent, respectively.
The statistics are similar for companies with female chairs with 30.8 percent women on boards vs. 19.4 percent, respectively. The inverse is true as well, with gender-diverse boards more likely to appoint a female CEO and board chair.
“Consistent dedication and commitment are required to overcome the persistent barriers to improving gender diversity within the boardroom,” says Dan Konigsburg, the managing director of the Deloitte Global Boardroom Programme.
“Leaders must recognise, advocate, and actively advance gender parity in the boardroom even as progress remains slow. Whether by addressing bias, implementing programmes designed to help women prepare for board service or supporting legislation, we all have a part to play in advocating for a more diverse and equitable future.”
Follow us on
