PICPA Women Summit

‘More women should be empowered to become CEOs’

Marivic Españo speaks during the Philippine Institute of Certified Public Accountants Women Summit in Makati City on March 6, 2020. (Photo by Enrique Agcaoili)

WHILE many women already hold senior roles in business organizations, more of them should be empowered and coached to become chief executives, according to P&A Grant Thornton Chairman and Chief Executive Officer (CEO) Marivic Españo.

In a speech at the first Philippine Institute of Certified Public Accountants (Picpa) Women Summit in Makati City on Friday, Españo asserted that training more women to become CEOs would strike a balance in senior management positions.

“We need to empower women in other areas and build their capabilities to become CEOs,” she said.

Sharing the results of the auditing firm’s recent survey, the P&A chief said the Philippines had the highest number of women holding senior roles in business organizations.

According to her, 95 percent of Philippine companies have at least one woman in senior management and 43 percent of senior management roles are held by women.

Worldwide, 87 percent of companies have at least one woman in senior management and 29 percent of senior management roles are held by women.

Españo said that in the Philippines, most of the senior positions women held are human resources director, chief financial officer and chief operating officer.

“What is striking here, though, is that when you look at other areas… the percentage of women in management roles is smaller,” she noted, citing sales, marketing and technology, among others.

She stressed that these should be given more focus because these could provide a holistic view of how businesses operate, equipping women with the necessary skill set to become CEOs.

In order to empower women in organizations, Españo said the cultivation of an inclusive culture and setting targets to attain gender balance at the leadership level, among others, should be undertaken.

She also encouraged women to take on leadership roles if given the opportunity and not be deterred by pressure to take care of their families.

“If we let those fears dictate our feelings, then we can never take on leadership roles,” she said.

For her part, Picpa National President Evelyn Corpus, called for all stereotypes against women in leadership to be abolished.

“Seeing a woman through a man’s looking glass is never exact,” Corpus said.

 

As published in The Manila Times, dated 07 March 2020