Irish businesses are European leaders in promoting women to senior financial management positions, according to a new global survey.
The 2011 figures, compiled by accountancy firm Grant Thornton to mark International Women’s Day (8th March) show that 27% of Chief Financial Officers (CFOs) and Financial Directors (FDs) in Irish privately held businesses are women.
The Grant Thornton International Business Report (IBR) 2011 shows that Ireland is ranked 2nd in Europe and 11th globally for the number of women in senior financial positions.
At a European level, just 16% of women across the EU are in senior financial positions. Across the globe 22% of CFOs or Financial Directors are women.
Jillian O’Sullivan, Partner with Grant Thornton said, “More and more Irish women are pursuing successful careers in financial positions, and the number of women at a senior level will only increase in the future. In our own company in the last 5 years we have seen the number of women joining our graduate programme grow to nearly 50%.”
“However, there is still work to be done. The 2011 figures show the overall number of women involved in senior management in Ireland has reduced from 21.5% to 19.4% in 2011 – a global ranking of joint 16th.”
This reduction is in-line with an overall reduction in the size of management teams in Ireland. While in 2004 there were on average of 10 people in management positions in small and medium sized Irish business, 2011 figures show that there are now 7 senior managers per business.
“We are now level with European averages in the size of management teams, and this is a sign that Irish businesses are becoming more competitive and focused,” said O’Sullivan.
“As owner managers, many of whom are men, become more involved in their businesses due to the economic downturn, management teams are getting smaller,” said O’Sullivan.
INTERNATIONAL
Outside of Ireland, the research shows that Thailand has the highest percentage of women at a senior level (45%). The Asia Pacific region (excl Japan) as a whole scores highest with 27% of women in senior roles.
India, the United Arab Emirates and Japan score the lowest, with less than 10% of senior management positions held by women.
Great strides have been made in some locations - Thailand, Hong Kong, Greece and Belgium have increased the number of women at a senior level by more than 7% since 2009.
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