Yesterday morning I participated in the “Ring the Bell for Gender Equality” event at the opening of the Mongolian Stock Exchange. A global event sponsored by the IFC and other partners*, the event highlights how economies and individual companies benefit from efforts to close gender gaps in their operations and governing structures.
Earlier I had dug out my notes from a survey of listed companies conducted in 1996. Only 25 of the 249 companies we surveyed counted women as general directors. Today, women lead around six percent of the top 100 listed firms – that is, fewer than 20 years ago. This does not mean that there has not been progress. The last time the World Bank Group enterprises surveys were done, Mongolia had a similar or larger share of firms with women in top management. This number is higher than the region’s average, but such leadership roles were more heavily weighted to smaller firms. Whereas 31 percent of medium-sized firms – that is, those with 20-99 employees – had female top managers, only 17 percent of firms with over 100 employees had women in senior management.
Getting to equal at the top requires more systematic scrutiny of the factors that support or hinder women’s economic empowerment throughout their lives. No one is born a CEO.
So, where are the gender gaps?