Despite high levels of education and professional experience, women in Bosnia and Herzegovina still occupy only one in four senior management positions in companies. At the current rate of progress, women in BiH will need more than a century—approximately 109 years—to achieve full gender equality, according to a new study presented today by the Women on Boards Adria association and UN Women in BiH.
The study, “Women on Boards in Bosnia and Herzegovina: Advancing Gender Equality in Corporate Decision-Making”, is based on an analysis of 2,717 medium-sized and large companies that together generate more than 85 per cent of the country’s total revenue, making it one of the most comprehensive overviews of BiH’s corporate economy to date.
“This research provides a realistic picture of the state of the corporate economy in Bosnia and Herzegovina, and it is not a favourable one. In nearly three-quarters of the companies analysed, there is not a single woman in management structures. Our research aims to answer why. The findings clearly refute the frequent and incorrect assumptions that there are no qualified women or that women avoid leadership positions,” said Biljana Braithwaite, founder of Women on Boards Adria.
Key financial indicators show that striving for gender equality has no negative impact on business performance. Furthermore, as many as 88 per cent of company owners included in the study stated that women in leadership positions had a positive impact on business operations, particularly through improved communication, greater transparency, more responsible management, and more effective conflict resolution.
“This study confirms that women are not absent from leadership due to a lack of skills, but primarily because of the way systems are designed. UN Women works to change these systems by promoting transparent governance, gender-sensitive policies, and the economic empowerment of women as the foundation for equal access to decision-making processes. Ensuring the full participation of women in leadership is not just a matter of fairness; it strengthens economies and benefits society as a whole,” said Jo-Anne Bishop, UN Women Representative in BiH.
The study also highlights a pronounced phenomenon of symbolic inclusion (so-called tokenism). In companies that do have women in leadership, this most often means only one woman, while just 0.61 per cent of companies have five or more women in management positions. Compared to the European Union average, where women hold around one-third of managerial positions, in BiH, they occupy only one in four.
“Gender equality is not an optional political choice for the European Union. It is a fundamental value embedded in our treaties and reflected in legislation, external action, and enlargement policy. Ensuring equal participation of women in economic and corporate decision-making is essential for democratic governance, economic resilience, and long-term competitiveness. It is also an economically sound decision, and the European Institute for Gender Equality has estimated that closing gender gaps in Europe by 2050 could contribute an additional three trillion euros to the EU economy,” said Aude Maio-Coliche, Ambassador for Gender Equality at the European External Action Service.
Although the Law on Gender Equality in Bosnia and Herzegovina sets a target of at least 40 per cent representation of the underrepresented sex in decision-making, this provision is not binding and does not предусе sanctions for non-compliance. In addition, entity-level company laws do not contain provisions on gender balance in management and supervisory boards.
“For us, gender equality is not a separate issue, but an integral part of labour and social security policy. Through the Draft Labour Law, which we have submitted to the Government of the Federation of BiH, we are for the first time systematically strengthening the protection of women in the labour market, especially in the private sector, where they have for years been exposed to discrimination, insecure contracts, and pressure. The law provides special protection for mothers and women planning parenthood. Pregnancy testing, denial of rights, and pressure during pregnancy and parental leave are explicitly prohibited, with clear penalties for employers who violate these rights. In this way, equality becomes a systemic obligation rather than a matter of goodwill, because a labour market that discriminates against women cannot be stable or sustainable,” emphasised Adnan Delić, Federal Minister of Labour and Social Policy.
The study further points out that the key issue is not only whether women have a seat at the table, but also which table they are seated at. Most women who are present on boards are members of management boards, while their participation in supervisory boards, where strategic decisions are made, is significantly lower.
The study concludes that closing the gender gap in corporate decision-making is essential for unlocking the country’s full economic potential and calls on decision-makers and the business community to introduce binding measures, transparent appointment processes, and to strengthen mentoring and development programmes for women.
