Celebrating women's success

At the same time, we take the opportunity to look at the general challenges facing women in business. Grant Thornton’s Women in business report 2019 points out that “gender diversity isn’t just the right thing from a social standpoint; it’s the best thing for business.”

“There is a significant research base demonstrating a strong correlation between diversity at a leadership level and business results,” says Kim Schmidt, global leader - leadership, people and culture at Grant Thornton International. “In today’s complex, volatile environment, organizations need to be responsive and innovative. And we know there is a direct link between innovation and diversity. Lasting diversity can only be achieved by committed action to promote women, through sponsorship and support, by creating opportunities, removing biases and shaping an inclusive culture.”  

Grant Thornton’s 2019 research reveals the highest recorded proportion of women in senior management globally at 29% – an increase of five percentage points over the last year, suggesting a more active, targeted approach to improving the situation.

Nonetheless, the report notes that this falls short of ensuring long-term gender parity. Businesses still need to take deliberate, ongoing action for sustainable change. “Targeted initiatives kickstart activity, but where you see a difference is when they are rigorously followed through, and where there’s real commitment from the senior leadership,” says Francesca Lagerberg, Grant Thornton International’s global leader - network capabilities.

Some regions are doing better than others and there are lessons to be learned from them: Eastern Europe has the highest percentage of women in top roles, with 32% of senior management in the region made up of females, compared with Latin America, the worst performing at just 25%.

What this year’s research shows is that momentum is starting to build. “The time for deliberate action is right now,” the report quoted Kim Schmidt as saying.

Coming back to last night's event, Business Arena’s Most Admired Business Women Awards Gala was hosted by Andi Artenie and was organized in partnership with CEC Bank, Garanti Bank, Alpha Bank Romania, Apulum Porcelain Factory, Hama Romania, Meli Melo Paris, Worldclass Romania, Via Viticola, Trends By Adina Buzatu, Casa Anke, Ramada Parc Hotel.