Outstanding women in business

Women have become increasingly competitive in the pursuit of key positions at large companies around the world. Globally, research suggests that we’re headed towards equality in terms of the number of men and women occupying top management roles, albeit at a rather slow pace. But today, many women still face obstacles in accessing top executive positions. Business Review talked to 13 women holding key management roles in some of the most successful companies on the Romanian market, who provided insight into their professional journeys and shared their views on what it means to be an effective leader.

By Anda Sebesi

At the moment, Romania’s middle management is dominated by women, with the most recent statistics showing that they hold around 60% of these positions. But when it comes to top executive roles, women’s representation at the national level still remains relatively low compared to men’s. In the last decade, the Romanian women who were still trying to make it to the top have faced several challenges that many of their fellow male executives may find hard to understand. Some of the biggest obstacles for women aspiring to leadership roles range from the lack of female role models in senior and executive positions and the limited access to networking opportunities to the struggle of balancing career and family and dismantling the stereotypes regarding their leadership abilities. All these aspects have kept many women from achieving their goal of becoming company leaders and diminished their ability to advance in business.

“Women still only hold a small fraction of total CEO roles across regions and sectors. The EU recently adopted a law on gender balance in corporate boards that says that at least 40% of non-executive director positions, or 33% of all director posts, must be occupied by the under-represented sex by 2026,” says Francesco Zacchetti, Country Manager at HR services & workforce solutions provider Adecco Romania.

Although women’s ascension to executive roles in Romania has seen some improvement, gender parity is far from being achieved. “Nowadays, it is still difficult for a woman to assert herself in such positions due to existing gender bias and societal expectations. Even if we’ve had more conversations to promote gender equality at work, women still have limited access to leadership opportunities, equal pay or work-life balance,” says Zacchetti of Adecco Romania. According to the European Institute for Gender Equality—established within the European Union—which has devised a Gender Equality Index, Romania is at the bottom of the European ranking, scoring almost 60 out of a total of 100 points.

“In recent years, there have been some positive developments empowering women in the Romanian business environment, such as increasing awareness about gender diversity, initiatives to promote women’s leadership, as well as new emerging support networks and mentorship programmes. However, I believe there is still more room for improvement, especially in changing the mindset and increasing women’s representation in top management roles,” Zacchetti argues.

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Francesco Zacchetti, Adecco Romania: In Romania, women’s representation in top executive positions remains relatively low

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Studies show that, on a global level, the difference between the number of men in top management and that of women occupying similar positions has begun to shrink and that we’re seeing a slow but sure move towards equality. Another piece of evidence that supports this trend are the statistics that show that the number of women signing up for MBA&EMBA programmes is constantly increasing.

“For women to access leadership positions means to be better prepared in terms of skills. That is why these master’s programmes bring benefits not only at the professional level, by providing knowledge that is relevant to any business and obtaining a diploma that certifies it, but also at the personal level,” explains Ileana Botez, the president of Professional Women’s Network (PWN) Romania. She adds that a significant goal that should be considered by women is building solidarity. “It is crucial for women to garner support from other women as the gender gets better represented in leadership positions,” she argues.

The fact that 60% of EU university graduates are women suggests they are more interested in being well prepared for the job market and obtaining higher positions and incomes. “We must work to remove stereotypes and to let go of cultural biases. This is the only way to provide fair representation for both men and women in leadership positions and making use of all their strengths. There will be more and more women role models in management positions, with different successful leadership styles, who will serve as inspiration for the next generations,” adds Botez of PWN Romania.

What determines a woman’s success in business?

Success for women in the Romanian business environment is shaped by a mix of factors, including their ambition, knowledge base, perseverance, skills, qualifications, networking, as well as resilience and ability to navigate gender biases and societal expectations. Besides, women can be significantly empowered through access to resources, mentorship or support communities, elements that help them grow and thrive in the business world.

“Being a successful businesswoman means reaching a high degree of independence that allows her to feel more confident in her own strength and encourages her to reach new horizons of achievement,” says Ileana Botez, adding that each woman has her own definition of success based on personal experience and vision. It may range from the ability to develop a profitable business that operates based on honesty and integrity and contributes to the well-being of the community to offering employees peace of mind and a balance between their professional and personal lives. Additionally, women tend to give more thought to the impact of their business on the environment and on the people around them. “Being courageous, determined, ambitious, resilient, visionary, realistic, passionate, perseverant, trustful, honest, communicative, inspirational, motivated, and empathetic represent the most important skills and human qualities of a successful woman in business,” Botez argues.

The five “Women in the Economy” Galas, the most important and long-lasting event series organised by CONAF (National Confederation of Female Entrepreneurship) in Romania, dedicated to women involved in the business world, have handed out over 77 excellence awards to women who have excelled in sectors like aerospace, medicine, light industry, and literature. “We believe that only work, education, and the quality of being human—in the sense we learned from our parents—can make the difference,” says Cristina Chiriac, the president of CONAF.