Grant Thornton releases 21-year Women in Business Report
A groundbreaking report from Grant Thornton reveals that without immediate action, 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 34.0% of senior leadership positions globally, an increase of only 0.5 percentage points from 2024. At this rate, a young woman beginning her career today will likely spend more than a quarter of a century before seeing gender-balanced leadership in mid-market firms.
“We celebrate mid-market businesses for their agility and invention,” says Karitha Ericson, global leader of network capability, culture, and corporate sustainability at Grant Thornton International Limited (GTIL).
“It’s what makes them one of the most dynamic parts of the global economy. Their actions and decisions can be a catalyst for change – and when applied to the challenge of gender equality in senior management positions their effort can be transformational. Reach parity quicker and we will all see the benefits of stronger economies, better performing business, and fairer, more inclusive cultures. The pressure is on to take action, but the opportunity is also there for us all to grasp.”
The latest Women in Business 2025 report emphasises the critical role mid-market firms play, as they account for 90% of global businesses and create two-thirds of jobs worldwide. The costs of inaction are profound, with research from the International Monetary Fund indicating that closing the gender gap in developing markets alone could boost GDP by 23%.
Grant Thornton calls on business leaders to:
- Set bold targets for senior female representation.
Most businesses (63.9%) have no target on the percentage of women in senior management. Without a clear target on this area, these firms are risking a slowing or stalling of their growth.
- Support women throughout their career journeys to retain and develop talent.
Targets for mentoring, networking, and retention targets are particularly effective at driving diversity, yet are among the least implemented strategies by businesses.
Of businesses which set a target on networking, 61.1% have increased the gender balance of their senior teams. Likewise, more than half of firms that set a target on either mentoring (50.7%) or retention (50.7%) increased their gender balance in the last year.
- Exert pressure on external partners to ensure diversity across supply chains.
Over three-quarters (77.6%) of mid-market businesses reported receiving requests from investors, clients, or partners to demonstrate their commitment to gender diversity. Firms that responded to such pressure saw significant change: more than half (56.3%) increased the percentage of women in senior roles in the last 12 months.
“The mid-market is the heartbeat of the global economy, and its potential is only fully realised when we embrace diverse leadership,” says Peter Bodin, CEO of GTIL. This isn’t just about equality – it’s about unlocking unprecedented economic growth. By accelerating action on gender balance, we’re not just opening doors for women; we’re creating a more innovative, resilient and dynamic business landscape for generations to come.”
The message is clear: acting now on gender parity isn’t just about fairness—it’s a business imperative with the power to transform economies.
International Business Report
The Grant Thornton International Business Report (IBR) is the world’s leading mid-market business survey, interviewing approximately 5,000 senior executives biannually in listed and privately held companies all over the world.
Launched in 1992 in nine European countries, the report now surveys around 10,000 business leaders in 28 countries on an annual basis, providing insights on the economic and commercial issues affecting the growth prospects of companies globally.
The findings in this report are drawn from around 5,000 interviews conducted between October and November 2024 with chief executive officers, managing directors, chairs, and other senior decision-makers from all industry sectors in mid-market businesses in 28 countries.
More information: https://www.grantthornton.global/en/insights/articles/About-IBR/
Grant Thornton’s Women in Business report
For 21 years, Grant Thornton has cast a light on issues surrounding gender diversity in senior management among the world’s mid-market businesses, exposing barriers and identifying actions for change.
The 2025 report is available to read at: https://www.grantthornton.global/en/women-in-business/
