Asia still failing to produce more female executives

Although Asia has seen a rise oin the number of women executives, it is still too early to celebrate the full and active participation of women at the workplace. 

A new survey by McKinsey & Company shows that Corporate Asia is still failing to tap the huge pool of talented women. The survey shows that some 50 per cent of graduates in Asia are women, but only a fraction of that number make it to middle management, let alone the top.

There are numerous challenges facing women aspiring to climb up the corporate ladder. For instance, many face the burden of balancing work and domestic responsibilities. Some feel discouraged by a lack of female role models. Some women are reluctant to promote themselves. A lack of pro-family public policies or support services does not help.

It would be unfortunate if the full potential and skills of women remain untapped. This is an oversight that could affect companies’ growth aspirations given the acute talent shortage in the region, according to the McKinsey report entitled “Women Matter: An Asian Perspective”. The report is based on surveys in 10 Asian countries and the gender composition of women on company boards and executive committees. 

The study finds that, despite the low representation of women at senior levels, gender diversity is not yet high on the strategic agenda of most Asian companies, and few senior managers believe this will change any time soon. 

In fact, this challenge facing women is not exclusive to Asian or developing nations. Western female executives have yet to successfully to break through the real or perceived glass ceiling. The proportion of female board members or executive committee members in Europe and the US is still lower than one fifth the total for men. 

In Asia, however, the survey shows that in the 10 countries that the survey was conducted in, women accounted for only 6 per cent of seats on corporate boards, and 8 per cent of seats on executive committees. 

When compared with Europe and the United States, the comparative figures are 17 per cent and 10 per cent, and 15 per cent and 14 per cent respectively.

Higher female representation at the senior levels in corporate Asia will require effort from the government, companies and workers themselves. Women can be encouraged to become motivated if they have received training. Companies must also promote gender diversity by encouraging a more receptive attitude towards female executives.

At any rate, the effort to break the glass ceiling must also come from women. First of all, education is still an effective way for women to rise to the top. It does not hurt for aspiring female executives to further their studies in areas they are interested in. In many cases, Asian mothers try to provide their daughters with the best education possible, to equip girls with a body of knowledge that is essential in the corporate world. Indeed, many Asian mothers are well aware that education is the most workable ticket for their daughters’ success.

Women should also not be shy about seizing promotion opportunities. Some women are reluctant to accept promotion because they feel they have to choose between career and family. In fact, Sheryl Sandberg, who recently became the first female board member of Facebook, and who is a mother of two, proves that women can perform both tasks, and she rejects the idea that women have to choose either work or children. 

In addition, it would be wrong for women to use their femininity togain advantage. Women don’t have to prove anything more professionally than their male colleagues. If a woman is good at what she does in her work, she should stand an equal chance of rising through the ranks. Women should realise their own potential instead of trying to get promoted by other means. The challenge for women should not be seen as a liability but an opportunity to improve themselves and prove their critics wrong.

Gender diversity in the workforce should also encourage corporate efficiency. The perception of women executives could give a competitive edge to the business. In a world where women increasingly enjoy the rights to education and employment, and often outshine their male colleagues, there is no excuse for them not to dream about being at the top of the ladder.