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Number of female CEOs doubles in Brazil in five years, but representation is still a challenge, Bain survey finds

Bain & Company has just released the researchNo shortcuts: the path to female representation at the top and the value for companies, which seeks to understand the business community's perception of women's presence in corporate management and explore the main barriers they face to reach the top. The consultancy still points out the necessary actions to create a favorable environment for the rise of female talent in Brazil.

"We need to emphasize that there has been an evolution, and women's representation in leadership positions has virtually doubled in the last five years, but it is still far from equality. Faced with increasing questioning about the validity of diversity investments, the research highlights the importance of diverse leadership for sustainable business growth, exposes the barriers to women's advancement, and suggests actions to accelerate this progress," notes Luiza Mattos, partner at Bain responsible for the study, leader of the Health and Customer Experience practices in South America, and head of the Women at Bain affinity group.

According to an analysis by Bain based on the 250 largest companies in Brazil, between 2019 and 2024, the number of women CEOs increased from 3% to 6%. The percentage of executive women increased from 23% to 34%, and the percentage of women on boards increased from 5% to 10%. Based on this data, it is possible to see that women begin to lose representation in leadership positions when they reach middle management, as shown in the graph below.  

Advantages of diversity

The research shows that the implementation of concrete actions aimed at diversity favors gender equality and, additionally, strengthens competitiveness, demonstrating that inclusion is an essential driver for sustainable organizational success.

There is also the perception that companies with diverse leadership are more innovative and open to new solutions. Additionally, they are, on average, 1.8 times more identified as companies more focused on action, with an emphasis on value creation and reducing bureaucracy. Other perceived advantages are the incorporation of the customer's voice into decisions and the attraction of talent.

Lack of aspiration is a myth

Women aspire to and believe they can reach the top just as men do, and both consider the desire to participate in strategic decisions and generate impact as the main factors of influence. However, men seek leadership 1.7 times more than women to meet social and family pressure and are 1.3 times more motivated by the associated status. Female employees are 1.2 times more motivated by the opportunity for personal development and work-life balance.

Generally, people tend to evaluate their own gender more favorably compared to the opposite. Men consider women more positively in aspects of teamwork, but show less recognition in areas related to problem-solving. On the other hand, women tend to rate men's leadership performance in team development as significantly lower. Another difference lies in the perception of fairness in the selection and promotion processes, which shows significant disparities between men and women, especially in more senior positions.

Four actions to boost the presence of women in leadership positions

To increase gender equity and ensure a more inclusive corporate environment, Bain emphasizes that it is necessary to invest in four strategies that address structural and cultural challenges, promoting practices that boost diversity and the appreciation of female talent:

  1. Use data to support decisions:define DEI strategies and monitor results, whenever possible linking them to business indicators to maximize impact;
  2. Review processes and initiatives with leadership impact:design a specific action plan for senior leadership, with effective, long-term actions, accompanied by clear goals that guide the organization;
  3. Communicate with intention and build an inclusive environment: intentionally publicize diversity goals and advances, promoting an inclusive leadership narrative and a culture of equal opportunities for all;
  4. Engage leadership and promote co-accountability:identify allies and promote deep leadership engagement, bringing leaders closer to solutions, with shared accountability from everyone, including the board of directors

In conclusion, Bain's survey points out that the implementation of concrete actions aimed at diversity favors gender equality and, additionally, strengthens competitiveness and business innovation, demonstrating that inclusion is an essential driver for sustainable organizational success.

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