Women of the East Confronts Hurdles to Top Jobs
India is a male dominating country and is always biased with the women. But, it’s not the only problem of India but the whole of Asia face the same. It’s been revealed that Asia’s women face more obstruction than those in the West in penetrating the top ranks of corporate management.
The survey of 1,500 senior managers and research of 744 exchange-listed companies across the region by McKinsey & Co., a management consulting firm, suggests that increasing the number of women in high-level positions can improve companies' financial performance and countries' economic expansion an insight by Kathy Chu and Evan Ramstad, on The Wall Street Journal. The research was conducted on the women corporate boards and executive committees across 10 Asia-Pacific markets to reveal the problems faced by the fastest growing companies, which are struggling to recruit the high-level managers they need to expand.
An intimately watched metric amongst investors and analysts conforms in the Asian companies that, the highest proportion of women on executive committees posted on an average return on equity, of 22 percent in the year 2007 and 2009 as compared with 15 percent for those with no female executives on committee, McKinsey's analysis shows."Women tend to be stronger in terms of collaboration and people development, while men tend to be stronger in individual decision making," says Wang Jin, a Shanghai-based principal at McKinsey who helped author the report. "By having more women at the senior level, companies are helping to improve organizational health as well as financial performance".
Asian nations largely lag behind the West, with the proportion of women on corporate boards and executive committees. Female Executives accounts for only 6 percent the least of seats on corporate boards in the markets studied compared with 17 and 15 percent in Europe and U.S. in 2008. Japan has recently shown a remarkable achievement. Nissan Company promoted Fumiko Hayashi to head of auto sales and the mayor of Yokohama is Ms. Hayashi, both the women have make it to that level.
Asia, "there's a much stronger barrier in terms of the expectation that women have to (stay home) to take care of their families," says Ms. Wang. The gender gap in the workplace is pretty minute with regards to private company. Women held one in five senior management positions in the private companies as compared to men according to the 2012 report by accounting firm Grant Thornton. So, the Asian nations are prone to have a higher percentage of women in senior management than in the West. In the Southeast Asian countries, almost a third of senior management positions belong to women as compared to 18, 24 percent in North America and Europe.
The question arises what’s the problem behind it. It’s been found that 30 percent of senior female managers quit their jobs willingly due to family commitments and the other reason would be lesser population of women at the workforce in Asia. It’s sad to know that India, among the most populated countries, has only a third of women working, which is like one of the world's lowest female labor participation and in Taiwan and Malaysia it’s less than 50 percent.
But still in Asian companies with more women employees, women aren't making it to the top levels of management. China has uppermost female workers in the world, at 74 percent but less than 10 percent of executive board and committee members are women. Eastern company’s value gender diversity less than in the West and Asia's wealthier countries have workplace gender gaps the more. And this problem is never addressed as countries are moving faster and they don’t have real good time for it.
But now days the government is taking responsibilities and in Korea, cabinet minister tried to improve this gender equality by providing subsidies and loans to the companies to build child-care facilities, and subsidizes companies for family friendly policies that help women juggle work and family life. In a recent visit to South Korea, Norway's minister of trade and industry, Trond Giske, presided at a workshop to educate South Korean government and corporate officials on its policies that encourage women to stay in the workforce. Norway requires companies to appoint women to 40 percent of board-level positions.
Now, everywhere in Asia, governments and the corporate sector are trying to boost the ranks of women in senior positions. In Malaysia, the government set a target in 2004 to have 30 percent of women at the decision-making level in the public sector and the goal exceeded by 2010. So, women climbing the corporate ladder do not completely depend on the changes done by the government or the company’s but it also depends on the societies and their way of thinking.
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