For the last 22 years, Grant Thornton has been monitoring and measuring the proportion of women occupying senior management roles in mid-market companies around the world, with findings published each year in the Women in Business report.
In today's climate, diversity, equity and inclusion (DE&I) and gender equality initiatives are under scrutiny. Although many large corporations have scaled back, the mid-market continues to demonstrate commitment that is not simply aspirational, but pragmatic.
This year, the report explores how DEI initiatives drive gender equality within businesses and the impact of staying committed — keeping visibility in focus.
Investing in gender diversity is investing in growth
Gender-balanced leadership propels businesses towards sharper decision making, facilitates innovation and expedites growth. Moreover, visibility plays a critical role in this cultural change. When women see leaders who reflect their own aspirations, advancement feels attainable. At the same time, investment in gender equality attracts future talent and helps firms outperform peers, powering global economic advantages.
The trajectory of leadership representation
Global female representation has climbed 13.4pp in the past 22 years, even with occasional setbacks along the way.
From a Singapore perspective, within mid‑market businesses, the share of women in senior management stands above the global average. Between 2025 and 2026, there has been a slight dip in the proportion of women in senior management. Encouragingly, however, the number of businesses with no women in senior management has declined by 1.0pp, indicating a step in the right direction.
Gender parity in mid-market leadership will not be reached until 2051.
Each year of stalled progress diminishes opportunities for women and constrains commercial growth. Bringing women into senior management is only the first step. Sustained, deliberate action is required to ensure they remain and thrive.
Female CEOs
CEOs often drive strategic decision-making, therefore having visible role models at this level helps embed diversity into the DNA of businesses.
Globally, 23.8% of CEO positions are now held by women, a 2.1pp increase from 2025. This demonstrates the potential of a highly influential role as a catalyst for lasting change.
Conversely, in Singapore, only 20.2% of businesses are led by a female CEO, below the global level. While women may be advancing in senior leadership and account for 36.1%, reaching the CEO role remains the hardest barrier to cross.
Recommendations for long-term success
Use impact to accelerate gender parity and business success
Demonstrating that gender-balanced leadership and inclusion drives stronger growth will build commitment that advances parity, while unlocking commercial opportunities.
Elevate diverse voices to advance gender parity
Embracing diverse perspectives and holding stakeholders accountable strengthens gender equality, fortifies your ecosystem and drives resilient performance.
Increase visibility to unlock opportunity and attract talent
Showcasing initiatives help inspire talent, win investment and sharpen your competitive edge in the marketplace.
