Issue No. CCXVII; March 28, 2014
THIS ISSUE’S HIGHLIGHTS:
I. WOMEN PRESIDENTS AND CEOs AT THE 2014 GLOBAL SUMMIT OF WOMEN – PARIS
II. WORLD BANK 2014 REPORT: ENGAGE PRIVATE SECTOR IN GENDER EQUITY
III. WOMEN LEAVING HIGH TECH JOBS
IV. DEVELOPING CAREER CAPITAL THE KEY TO BUSINESS SUCCESS
I. WOMEN PRESIDENTS AND CEOs AT THE 2014 GLOBAL SUMMIT OF WOMEN – PARIS
At the June 5-7, 2014 Global Summit of Women hosted by France, women’s leadership at the highest levels of business and government will be featured. For the first time, the Summit is including a Presidents Forum in which the President of Kosovo Atifete Jahjaga will be joined by the former President of Finland Tarja Halonen and the former President of Kyrgyzstan Roza Otunbayeva in a session on “Redefining Leadership.” All were the first women to become heads of state in their respective countries.
Joining the 2014 Global Summit of Women in Paris: Kosovo President Atifete Jahjaga, Former President of Finland Tarja Halonen, and Former President of Kyrgyzstan Roza Otunbayeva
Two of these Presidents – Kosovo and Kyrgyzstan – came to leadership roles after protracted ethnic conflicts, so how did that experience impact what they chose to focus on in their presidency? Their gender was often cited by citizens in their countries as a hopeful element in the move towards peace and democracy. Do they agree with this opinion? Finland’s President came to her post in a much more stable country. What did she focus on during her tenure that differed from her predecessors? She was much more outspoken in her support of women’s issues throughout her presidency. Did this gender-specific advocacy impact on how she was viewed by voters? Above all, how did all three work to rebuild or grow their respective economies? (To view the Summit program, go to www.globewomen.org, click to GSW; to see which women currently serve as Presidents and Prime Ministers, go to www.globewomen.com and scroll down to photos)
At the helm in the business world, four women leading major businesses have been invited to share their views on “Redesigning the Workplace.” Marriott Worldwide’s President for Europe Amy McPherson, Accenture’s CEO for Singapore and Managing Director for the Asia Pacific Lay Lim Teo, Orange/France Telekom’s Deputy CEO Delphine Ernotte Cunci, and IBM’s General Manager for Germany, Austria and Switzerland Martina Koederitz will examine the changes in the workplace that have taken place during their respective careers. Most important, they will look at what necessary redesign of the workplace is needed in terms of culture and practices that will enable more women to succeed and rise to leadership roles like theirs.
Women CEOs Sharing Views on Redesigning the Workplace at the 2014 Global Summit of Women: Marriott Worldwide’s President for Europe Amy McPherson, Accenture’s CEO for Singapore and Managing Director for the Asia Pacific Lay Lim Teo, Orange/France Telekom’s Deputy CEO Delphine Ernotte Cunci, and IBM’s General Manager for Germany, Austria and Switzerland Martina Koederitz
II. WORLD BANK 2014 REPORT: ENGAGE PRIVATE SECTOR IN GENDER EQUITY
A companion study to the World Bank’s 2013 World Development Report was released by the Bank as part of the International Women’s Day celebration. Underscoring yet again the valuable impact of women’s increased economic participation on reducing poverty worldwide, Gender at Work noted that women’s laborforce participation has actually dropped within the last two decades from 57% to 55%. The study notes that women face multiple barriers to full-time employment and that these barriers begin early and continue throughout women’s lives. The report stressed that leaders in business and government needed “bold, coordinated actions to advance equal opportunities for women in the world of work.” World Bank Group President Jim Yong Kim emphasized that “this agenda is urgent. Failure to act represents a huge missed opportunity.”
What actions are needed? Expanding women’s access to property and finance – an imperative to both governments and financial institutions – is a priority. Another one that requires public/private sector partnership is to “mainstream gender equality into jobs and growth strategies.” Given that the business community can move faster and more boldly, the report recommends that the private sector be engaged in innovative solutions that advance gender equity at work, acknowledging that some large multinational companies have already begun to do precisely that. Lastly, the study notes that biases start early in life, so equity solutions must begin with the girl-child. (Source: World Bank Group Gender & Development Update, 3/7/14).
III. WOMEN LEAVING HIGH TECH JOBS
There has been a great deal of emphasis lately in moving girls and young women to science and technology fields – STEM education to improve their access to better paying jobs. A new report by the Center for Talent Innovation in the U.S. indicated that keeping women in such jobs is proving to be difficult. According to this study, 45% of women in tech fields are much more likely than their male peers to leave their jobs within a year. The dismal results are the same whether in the U.S., India or China. That they are stalled in their jobs is the feeling among 25% of US women and 45% among Indian women. Forty-five percent of Chinese and American women stated that they are likely to quit within a year.
Gender bias is cited by these women workers as the major reason for their dissatisfaction. They feel excluded from the workplace social cultures, which are male-dominated; perceive gender bias in their evaluations; and feel unable to walk the fine line between aggressiveness and assertiveness. It should be noted, however, that 80% of these women loved the work that they do and they have ambitions to reach the top in their field – but not in the companies where they now work. (Source: Washington Post, 2/13/14)
At the 2014 Global Summit of Women, special effort has been made to showcase women in leadership roles in technology fields. Most important, outreach to university students through live-streaming of the Summit program, through the Summit’s Youth Forum and 25 students invited to attend the Summit for free to expose them to women in charge.
IV. DEVELOPING CAREER CAPITAL THE KEY TO BUSINESS SUCCESS
More than 89 percent of female professionals around the globe and a similar number of male respondents believe building their “career capital” – those differentiated skills that define and advance their careers – is key to success in the workplace, according to a new study by Accenture. Eighty-four percent of both women and men in the 32 countries surveyed say they are working to increase their career capital in an effort to enjoy greater opportunities for growth, have the ability to influence decisions at work, increase their credibility among colleagues and peers and reach their goals.
The vast majority of professionals surveyed (91 percent) agree that the most successful employees will be those who can adapt to the changing workplace, and nearly as many (89 percent) report that they thrive on or don’t mind change. Respondents also made a number of predictions about women in the workforce, including:
Women on boards: Nearly three-quarters of respondents (71 percent) think the number of women on boards will increase by 2020;
Women at the top: Seven in 10 (70 percent) say the number of women CEOs will increase by 2020; 15 percent believe the increase will be significant.
Women in senior management: Nearly half (44 percent) say their companies are preparing more women for senior management roles than they did last year
“This noteworthy optimism about the progression of women in the workplace is significant for both employers and employees,” said Nellie Borrero, Managing Director, Global Inclusion & Diversity at Accenture. “Attracting, advancing and retaining women depends on providing an environment and culture that develops leaders, empowers women and enables them to thrive.”
The preliminary findings of the report were presented by Stacey Jones, Managing Director for Corporate and Recruitment Marketing at Accenture, at the 2014 Colloquium on Global Diversity at Metlife in New York on February 20-21, 2014. For more from the Colloquium, visit www.globewomen.org/globaldiversity.
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