Press Release
Parity plateau: gender parity in senior roles still 25+ years away
04 Mar 2025
Released ahead of International Women’s Day 2025, Grant Thornton’s International Women in Business Report warns that without immediate action, global gender parity in senior management roles in mid-market companies won't be achieved until 2051—a stark reminder of the urgency to address gender inequality.
Despite steady progress in recent years, women currently hold just 34% of senior leadership positions in mid-market companies globally, an increase of only 0.5 percentage points (pp) from 2024.
In the UK, the number of women in senior management positions has increased +2pp compared to last year, to 36% - putting the UK ahead of the global average.
The percentage of businesses without any women in senior management roles in the UK has also reduced from 4% to 2%, below the global average of 4%. However, the global average has also reduced (from 7% in 2024) as having no women in top roles becomes an increasingly rare occurrence.
Jenn Barnett, Head of Equity, Diversity and Inclusion at Grant Thornton UK LLP, said:
“The 2025 International Women in Business Report shows that the UK is outperforming the global average in terms of women’s representation in senior management positions. At a first glance, this is very positive news but it’s clear that progress is slow with only, at most, incremental increases being made year on year. While UK businesses are making progress in the right direction, without a dedicated focus on driving diversity, our research shows that we still won't get to gender parity in the mid-market anytime soon.”
External pressure drives change
More than three quarters (77%) of mid-market businesses globally, have had a request from a client, investor, regulator or another external source to see the gender balance of their senior management team of provide evidence of a commitment to a gender diversity programme.
The pressures are powerful drivers of change. More than half (56%) of businesses across the globe who have faced this type of pressure say that the percentage of women in their senior management has risen as a result. Among firms that have experienced external pressure, the proportion of women in senior management is higher, at 37%, 3 percentage points above the global average. The pressure sources most likely to drive change were banks and existing clients.
Jenn Barnett comments:
“If we are serious about tackling diversity, we have to work together. It takes serious board commitment, investment and passion to create your own momentum, and this is increased by working with other businesses to partner, educate and share thinking. We have seen an increase in pressure through supply chains; it’s likely mid-market firms are experiencing pressure from larger firms, where there are often government, consumer or regulatory targets they need to measure up to. As the mid-market matures in this space, I anticipate we’ll see more organisations exerting this pressure on others.”
Quantifying success: what’s the target?
The research finds that businesses in the UK have set gender equality targets across multiple areas. The most common are found to be around recruitment (47%), increasing women in senior leadership positions (43%) and promotions (40%). Almost half of UK businesses have a gender equality strategy for employee pay.
46% of UK businesses who have put targets in place such as these have increased their percentage of senior management roles held by women in the past 12 months. Targets on governance, particularly board appointments, are associated with the largest increases in representation, however just 29% of UK businesses have set a target on this. This shows there’s a definite gap between the most common targets firms set and those that have the most significant impact.
Jenn Barnett advises:
“Set the targets that you believe are genuinely stretching but achievable for your business. Targets are a measure and are not the end goal. The benefits of diverse thinking can only be realised in a culture that enables it. My hope is that these insights will highlight new and different targets for businesses to consider. By doing so, they can try new strategies and make proactive, informed decisions about how they can increase gender parity in senior roles.”
What’s the future for women in business?
The push for gender diversity is clear to see, as mid-market businesses recognise the benefits that come from their equality strategies and targets. For example, 42% of UK respondents said the strategies contributed to employees feeling they are treated equally, whilst 20% said that their businesses are more innovative and that teams make better decisions as a result. These positive impacts ultimately boost overall business performance – and the UK economy.
Jenn Barnett concludes:
“Measuring the business benefits of inclusion on the bottom line is complex and difficult. To enable sustainable, long-term commitment, mid-market firms must get better at quantifying the success of their strategies. This could include using case studies to talk about successful work won, showcasing commercially successful inclusive teams or communicating transparently the results of any equality and inclusion initiatives. The insights in this year's report highlight the need for everyone to work together to advance gender parity in the mid-market. By joining forces, measuring success, and using external pressures and internal motivations, businesses can unlock the many benefits of a diverse and inclusive workforce.”
