(25 March 2009)

Women at senior management level are still poorly represented in UK privately held businesses (PHBs), in comparison to South Eastern and East Asian companies, according to the latest figures released today from the Grant Thornton International Business Report (IBR), which covers the opinions of 7,200 privately held businesses in 32 countries. A possible explanation for this poor showing could be the fact that of the 600 UK companies that were surveyed, 71% of those interviewed did not have any initiatives in place to support women who want to progress to senior management.

Disappointingly, the survey found only the most minimal change (1%) from the 2007 survey in the percentage of UK PHBs that have women employed in senior management roles. The UK still lags behind South Eastern and East Asian regions and finds itself well down the global rankings in 26th place with 66% of PHBs employing women in senior positions. This compares with the Philippines where 94% of PHBs employ women in senior management positions, Russia (88%) and Mainland China (81%).

Alysoun Stewart, Head of Entrepreneurial Advisory at Grant Thornton says, "The fact that 53% of those surveyed felt women had the same career opportunities as men, while only a quarter (25%) felt that there were barriers to introducing women into senior management roles is perhaps one reason why such initiatives are not felt to be necessary. However, this in itself is indicative of the lack of importance placed in the UK on ensuring a balanced representation at senior level."

"Women in the Far East are continuing to break the proverbial 'glass ceiling', in the corporate world, contrary to the commonly held perception that women are not given sufficient opportunity within this region. The cultural and social differences in these economies actually give women greater opportunity than many western economies."

"Women today represent nearly 60% of graduates in the European Union, and girls are continuing to outperform boys at school and enter the workforce in equal numbers. This talent is currently under-utilised by the UK's PHBs and represents a huge opportunity to strengthen the capability and capacity of senior management," Stewart says.

The study also found that just 39% of UK PHBs felt equal pay between men and women would be achieved within the next five years, while 22% felt there would never be equal pay between men and women. "It is a concern that nearly a quarter of those surveyed feel women's contribution to the workforce may never be reflected in the salary package," Stewart continues.

"It is disappointing that the participation of women in senior management still remains at such a low level in the UK and there is little evidence to suggest that this is likely to change dramatically in the near future. The development of appropriate initiatives such as mentoring schemes and career plans would be a welcome stimulus to enabling the potential of women to be more fully realised in the UK's Boardrooms," Stewart concludes.