Latin America Projected to Top World’s Highest Rate of Professional Working Women by 2025
Latin America is forecasted to be "the world's highest proportion of professional working women of 2025," Mercer, a consulting firm, reported Wednesday, Jan. 27. The country's rate for women's representation in the workforce is projected to increase from 36 percent in 2015 to 49 percent after a decade.
Mercer's projections were based on a survey conducted in 42 countries of Asia, Australia, Europe, New Zealand and the Americas. The consulting firm surveyed 583 organizations which employ an average of 3.2 million people.
According to the report, women hold 28 percent of profit and loss roles in the world's economy with Latin America ranking first, 47 percent. The list is followed by Asia, 27 percent, Australia and New Zealand, 25 percent, the U.S. and Canada, 22 percent and Europe with 17 percent.
As stated by the Voice of America, the study also showed that Latinas will most likely be promoted in their jobs in every level than their male counterparts especially in executive positions. In fact, Mercer said that they are now expecting Latinas to overtake 44 percent of executives in 2025 which is 17 percent more than today's rate.
The 10-year forecast also showed that New Zealand and Australia will only increase up to five percent, Europe will remain flat at 37 percent and U.S. and Canada will just improve by just one percent.
Meanwhile, Asia is expected to take the lowest proportion of professional working women with figures only rising to 28 percent within 10 years, as posted by the Irish Times.
Globally, the rate of women working professionally is expected to comprise 40 percent by 2025.
Patt Miligan, Mercer's global leader of When Women Thrive, said that what causes women's workplace progress to struggle is the failure to build "talent pipelines."
"While leaders have been focusing on women at the top, they're largely ignoring the female talent pipelines so critical to maintaining progress," Milligan said. She also shared that though most college graduates are women, women oftentimes don't have the opportunity to participate in the workforce as compared to men. The current promoting, hiring and retention of women are what limit them to be more productive than what is expected from them.
Miligan said, "The traditional methods of advancing women aren't moving the needle, and under-representation of women around the world has become an economic and social travesty," She also added that if executives want to have a change it's urgent for them to take action today.
Founded in 2014, When Women Thrive was established with a purpose to help other organizations grow through "active and productive participation of the women's workforce."