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Introduction

Investing in gender equality is a proven driver of performance and a competitive advantage. This year's Women in Business research, generated by our global team, shows that mid-market firms who are maintaining their gender equality initiatives and plan to implement new ones were the most likely to report significant growth in revenue and staff numbers. Investors are looking for gender-balanced leadership, or a commitment to achieving it, and employees view it as a reason to join or stay.

Despite many large organisations retreating from diversity, equity and inclusion (DE&I) in 2024/25, mid-market leaders remain committed: 92.7% have DE&I initiatives in place, and three-quarters continue to prioritise gender equality. This commitment is grounded not in ideals, but in business pragmatism. Gender-balanced leadership drives sharper decision-making, strengthens innovation and accelerates growth. But, to unlock these benefits, leaders must invest visibly in female talent and clearly communicate the commercial value of diverse leadership.

Visibility matters

When women see leaders who look like them, they believe advancement is possible. When future talent sees gender equality embedded in strategy, they choose to join and stay. And when the data explicitly shows that firms investing in gender equality initiatives outperform their peers, the global economy benefits.

Yet the continuing conundrum is that change remains slow. Data from this year's report shows a small drop of 1.1pp to 32.9% of women in senior management.

We've seen the percentage reduce and bounce back in previous years, but neither businesses nor the women who work within them can afford a further drop.

For more than 22 years, we’ve demonstrated the tangible business value of increasing women’s representation in senior leadership across the midmarket. Diverse leadership teams don’t just reflect fairness — they deliver stronger performance, foster innovation and build resilience. While progress has been made, recent global declines put these gains at risk. Mid-market leaders now face a pivotal moment: to act with conviction and embed gender diversity as a core business strategy. This isn’t just about equity — it’s about competitive advantage and sustainable growth. The time is now to take a wider view and to make sure we maintain progress.

Hilary Haynes Chief people officer, Grant Thornton International