By Tariro Mutizwa, ACMA, CGMA, Regional Vice President – Africa, at AICPA & CIMA, together as the Association of International Certified Professional Accountants.
While the ongoing global discourse and collective efforts to empower women in the workplace have yielded some positive results, more still needs to be done to address the challenges that impede women’s growth in the work environment. This is particularly important when it comes to addressing gender balance in leadership roles, including in the finance and accounting profession.
A recent global study by Deloitte has highlighted the increasing number of women who have ascended roles of leadership in finance and accounting across the globe; however, this is happening at a snail’s pace. The study shows that 18% of women now occupy C-level positions, yet, without an objective joint effort, female leaders in finance and accounting may not reach 25% by 2031.
Studies show that gender balance in the workplace makes good business sense. According to McKinsey, companies with greater gender diversity are more competitive, their studies have shown that companies with 30% of female executives were more likely to outpace companies where female executives ranged between 10% and 30%.
Organisations have their work cut out to create working environments that enable women to grow in the workplace and eventually progress to leadership positions. While some glass ceilings remain of course, a robust DEI strategy, coupled with a concerted and consistent effort, will help organisations make further strides in this area.