Finance And Accounting Career Paths Improve For Women

Finance

Finance (Photo credit: @Doug88888)

The career outlook for women in finance and accounting has improved over the past decade,  with more than four in 10 (42 percent) chief financial officers (CFOs) interviewed said the ability of women in the finance field to advance through the ranks is better now than 10 years ago. Just 4 percent of executives said there are fewer opportunities for women.

CFOs were asked, Compared to 10 years ago, in general, are there more or fewer opportunities for women to advance through the ranks in accounting and finance?” Their responses:

Significantly more 12%
Somewhat more 30%
No change 53%
Somewhat fewer 3%
Significantly fewer 1%
Don’t know 2%
101%*

*Responses do not total 100 percent due to rounding.

Companies like Renault-Nissan Alliance for example, recently reported their progress in closing the gender gap in other fields apart from Finance & Accounting for managerial capacities, and in the past year the organization has particularly accelerated recruitment and advancement of women in key growth markets. Russia and Brazil are among Renault-Nissan’s most successful regions for female recruitment and advancement into management positions. In Russia, Renault’s third-largest market, women account for 19% of the workforce and 25% of managers. In 2013, 40% of all new Renault recruits in Russia were women, up from 35% in the previous year. At Nissan, women account for 15% of the workforce in Russia and 27.7% of managers, one of the highest ratios within the company.

 

Managerial Implication:

While many organizations have made great strides in promoting female professionals in accounting and finance to the executive ranks, there is more to be done and ensuring a diverse staff and attracting and retaining top talent should be an ongoing priority. One way to help women at work could be the offer of attractive work/life balance programs as incentives.

From: Robert Half

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