The presence of women in managerial positions in the stock market is still low, only 12% of these positions are led by themwhich reduces the capacity for innovation and increases the profitability of companies, as highlighted by the study “Women in companies: drivers of change”.
Of the 182 companies listed on the Mexican Stock Exchange (BMV) and the Institutional Stock Exchange (BIVA), only 12% of those who hold relevant positions are women, reveals the study carried out by the Mexican Institute for Competitiveness (Imco) in collaboration with the Center for Research on Women in Senior Management (CIMAD) of the Pan-American Institute of Senior Management of Business School.
Fátima Masse, director of the Imco Inclusive Society, commented, during the presentation of the study, that in order to define the relevant addresses, the regulations of the National Banking and Securities Commission were taken as a basis, which highlights three positions: the general, finance and legal areas.
Thus, the analysis found that as the hierarchical level and strategic decision-making capacity increases, women lose participation. An example of this is that 36% of the workforce are women, but when it comes to management positions it decreases; in the legal directions occupy the 21%, in finance 8% and in general management 10%, that is, only seven women are in general management positions,
Meanwhile, 68% of the companies analyzed do not have women in any of their three directorates.
“It is not only that we are not seeing women at the top or in the highest governance body of companies, but we are also losing them along the way,” Masse stressed.
She specified that this lack of women in leadership positions, particularly in the difference in legal and finance management, is the reflection of the bias that exists in educationbecause in careers such as law there is usually a greater presence of women, while programs that have to do with numbers have less participation of them.
“If we want to attack this situation, we have to intervene at all levels, from the moment women begin to be trained.”
In relation to the participation of women in management by sector, 40% of them are concentrated in financial services18% in industry and 15% in services and consumer goods, while in telecommunications services there is not a single woman in these positions and in public services only 2 percent”.
Few women on boards
The study also reveals that of the 182 companies only 11% of the board of directors seats they are occupied by women, that is, there is one woman for every 10 members of the council.
This percentage remains at 11% for companies listed on the stock market and increases to 13% for companies on the debt market.
“If we continue like this, until the year 257 we would be talking about parity, that is to say to have half of men and women in the administration rabbits. This is not acceptable, we cannot wait 35 years to achieve this parity”, commented Yvette Mucharraz, director of CIMAD.
In addition, the independent directors they have the smallest participation within the councils, they represent 9% of the total, while only in the capital market they are 8% in the debt market 10 percent.
Although it is known that having 30% women on the board of directors increases innovation, generates a greater financial impact and increases the profitability of the company by 15%, only 3% of the companies analyzed in the stock market and 4% of the debt market have at least 30% of women on their boards of directors
Regarding the sectors, the financial sector has a greater participation of women with 43%, while in public services there are no women on the boards.
“These organizations miss the opportunity to consider different perspectives, which would allow the organization to innovate, within the organization in terms of personnel management and abroad in terms of the goods and services it offers,” Masse points out.
What can be done?
Specialists highlight the need to strengthen regulations with a gender perspective that broadcasters have to comply with and include indicators such as the composition of the workforce by hierarchical level, as well as the reporting of inclusion policies.
They also propose to develop programs for interns and that they have the opportunity to be considered for higher positions. As well as align study plans with the needs of the labor market to develop skills, which allow to face the current demand for jobs with the aim of promoting the specialization of young women.
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