Women are actively transforming the world in various ways. For one, any of them are taking the lead in pushing their businesses further towards greater success. Beyond such pursuits, however, they are also spearheading and accelerating the attainment of more inclusive workspaces and society.

According to PwC’s Women in Work report, increased female workforce participation has contributed $4.5 billion annually to the GDP of the average member country of the Organization for Economic Co-operation and Development since 2011. If this progress continues, that figure could reach $15.1 billion per year by 2030. PwC also mentioned that the percentage of women chief executive officers (CEOs) in the Fortune 500 has more than doubled over the last ten years, rising from 4.6% in 2014 to 10.4% in 2024.

Similarly, McKinsey & Company’s Women in the Workplace 2024 report found that women now hold 29% of C-suite positions, up from 17% in 2015. The share of women in managerial positions rose from 37% in 2015 to 39% in 2024, while the proportion of senior managers and directors increased from 32% to 37% over the same period.

Despite such progress, however, there still lies significant challenges, such as gender gap and unequal access of leadership opportunities in the workforce.

The S&P Global Corporate Sustainability Assessment (CSA) reports that a major obstacle for women in corporate leadership is their limited presence in revenue-generating management roles. These positions, often in sales and other departments directly tied to profitability, serve as stepping stones to the C-suite. Women hold just 29% of these roles, up from 27.6% in 2022 and 27% in 2021.

Boardroom representation follows a similar pattern with women holding 24.9% of board seats, up from 23.3% in 2022 and 21% in 2021. Despite regulatory mandates and shareholder advocacy for diverse boards, progress remains slow. In fact, PwC reported that women hold only one in five C-suite positions globally.

McKinsey, meanwhile, emphasized that while there is progress, some workplaces have not been better for women. According to the report, women continue to confront microaggressions as often today as in 2018. Microaggressions have been the key source of these concerns with women experiencing competence-based aggressions, area of expertise judgments, mistaken for someone at a lower level, and being interrupted more than others.

Furthermore, a 2024 report from the World Economic Forum (WEF) indicated that achieving full gender equality is unattainable by 2030. As of last year, the global gender gap score is closed at 68.5%, with no country having fully achieved gender parity. Among regions, the Eastern Asia and Pacific ranked fourth at the overall gender parity with a score of 69.2%. Since 2006, the region has seen an increase in percentage points by 3.1%, and New Zealand and the Philippines are the only countries in the region included in the global top 10.

The report projected that achieving gender equality will be attainable in the next 134 years. In economic participation and opportunity measured by labor force participation, wage equality, and representation in high-skilled jobs, the timeline extends to 152 years.

Over the past decade, the projected time to achieve gender parity has increased by 81 years. Economic disruptions, including the COVID-19 pandemic, have disproportionately affected women, deepening existing inequalities. Persistent wage gaps, occupational segregation, and inadequate parental leave and childcare policies continue to slow progress.

Amid the progress and the challenges, the value of diversity and gender equity in driving meaningful change remains upheld.

“The reality is clear: diversity drives better decisions, stronger businesses, and more resilient economies,” Verena Siow, president and managing director of SAP Southeast Asia, said in a statement released in line with the celebration of International Women’s Day this year, which is themed “Accelerating Action.”

Likewise, there is an urgent call to accelerate gender equality efforts to ensure equitable and sustainable growth, as WEF’s report highlighted.

“The reticence to embrace gender parity as a condition for equitable and sustainable growth is impacting global capacity to meet current and future challenges, and costing women and girls their futures. This raises a key opportunity for government and business leaders to contribute to macro level solutions for gender equality, and with it, a different kind of growth,” the report said.

For Ms. Siow, now is the opportune time to act and push boundaries of equity, opportunity, and leadership.

“Change is often perceived as a gradual process. But while it is true that change does not take place overnight, every little step we take in accelerating action unlocks new possibilities. In Southeast Asia, I’ve seen firsthand how equipping women with the right skills, access, and support can create extraordinary outcomes,” she said.

Critical actions

Ms. Siow highlighted three critical actions. First, she noted that a way to truly accelerate progress is through mentorships and, more importantly, sponsorships. While these two are important to bring guidance, support, and access to opportunities, sponsorships should further empower women leaders.

“Women need not just mentorship but advocates — leaders who actively open doors, champion careers, and create opportunities,” she explained.

Ensuring equal access to high-impact projects and decision-making roles for women at all levels in the workforce is also crucial. This approach will not only lead to effective leadership but also attract and retain top talents within organizations.

Ms. Siow also noted the importance of redefining leadership to achieve gender diversity. Today, success in leaderships transcends traditional qualities like aggressiveness; it now focuses on having diverse perspectives, emotional intelligence, and inclusivity.

“Innovation does not happen by waiting. It happens by taking action, challenging norms, and accelerating change. Just as we push the boundaries of technology, we must do the same for equity, opportunity, and leadership,” Ms. Siow added.

In addition, McKinsey’s study suggests that companies take bolder and more comprehensive actions that can lead to meaningful change in workplace equity. The recommendations by McKinsey include debiasing hiring and promotions processes, inspiring and equipping employees to curb bias and practice allyship, and unlocking the power of managers to influence careers and team culture. — Angela Kiara S. Brillantes, Mhicole A. Moral, and Jomarc Angelo M. Corpuz