Vienna, 30 October 2018

CRIF Austria survey shows that "Women are gaining ground"

Although women are still underrepresented in decision-making positions in Austrian companies, they are steadily closing the gap on their male counterparts according to a survey carried out by the business information service CRIF Austria. Whereas in 2010 only 30 % of Austrian companies were run by one or several women, by 2014 the figure had risen to 34.3 % and by 2017 to 36.6 %. By the same token, the percentage of male-led companies declined from 64.6 % in 2010 to 57.9 % in 2017.

“Although this is a welcome trend, at large companies, and especially at publicly held companies, women are still in the minority despite being equally well qualified”, explained CRIF managing director Boris Recsey. “Women are paid less for doing the same work, have fewer chances of promotion and eventually hit the glass ceiling not just in Austria, but also in other European countries.”

This is despite the fact that women are demonstrably better managers. According to the CRIF analysis 71.5 % of insolvent Austrian companies in 2017 were managed by one or more men – compared to 20.9 % that had one or more women at the helm. Last year the proportion of insolvent companies as a percentage of the total number of companies was approximately 0.77 %. The gender differences were also apparent here: Of 1,000 active companies just 4 that were managed by women had to file for insolvency, the figure for male-managed firms was 10 out of 1,000. According to Recsey companies with a female management generally also survive longer on the market because women consistently reinvest profits and take fewer risks.

About the Survey

The total number of companies was defined as all enterprises active on the cut-off date of 31 December in the years 2010, 2014 and 2017 that can be matched to a trade category and which have at least one active authorised signatory. Companies with a foreign legal form and those in the course of formation were not included. The total number of insolvent companies was defined as all Austrian enterprises over which insolvency proceedings had been opened and not rejected between 1 January 2017 and 31 December 2017. The gender was then established of the authorised signatories at these companies who had been active at either the time the insolvency proceedings were opened or the year before they were opened.

About CRIF

CRIF is a global company specialising in credit bureau and business information, and the development and maintenance of systems to support decision-making processes. Established in Bologna (Italy) in 1988, CRIF has an important international presence operating across four continents (Europe, America, Africa and Asia). In Austria CRIF is a leading consumer credit reference company and a key player in providing business information. CRIF Austria is the most popular and most frequently selected partner for credit information for retailers, e-commerce and the telecommunications industry. In addition CRIF also supports banks, leasing firms and insurance companies with innovative solutions. More than 6,300 banks and financial institutions and 55,000 business clients use CRIF services worldwide on a daily basis.