01/03/2023
“Gender equality at the Asian workplace”
On this World Women's Day 8 March 2023, we would like to share with you some of our views about Asia in terms of gender equality at the workplace. Despite decades of acknowledging females are under-represented in senior positions and company boards at work and politics, different Asian countries have progressed in different paces accepting and promoting women at the workplace according to differing attitudes/ beliefs, urbanization and economic development, social support and infrastructure for women, education levels for females, government and legal protection measures, market forces and activism. While many economies are facing aging, labor pools eroding and skills shortages, increasing women representation at work will help relieve many of these pressing issues.
According to a report by the Hong Kong Census and Statistics Department, women in Hong Kong earn, on average, 22.2% less than men in full-time employment. Furthermore, only 18.2% of board members in Hong Kong's top 50 listed companies are female, which is below the global average of 20.6%.
A McKinsey study from 2018, in Asia Pacific alone, advancing women’s equality could add US$4.5 trillion to Asia’s total GDP by 2025, a 12% increase. So how shall we approach and achieve gender equality, so that female workers will remain productive and stay in the workforce? Here are some suggestions:
Key areas to prioritize gender equality by policy makers at government and company levels are:
1. Focus on higher female workforce participation by providing support to women’s caregiver roles. To have the right work life balance is the key. Women shall not be forced to choose between having children or quitting their demanding jobs; or vice versa, keeping their demanding jobs and not having children.
2. Addressing the underrepresentation of women in leadership positions and provide equal promotion opportunities. Women leaders are overworked and under-recognized. According to McKinsey 2022 report, 43% of women leaders are burned out compared to 31% of men leaders.
3. Using digital technology to increase work flexibilities to women. Providing remote and hybrid work and giving women flexibility. Women also tend to get less microaggressions when working remotely according to McKinsey.
4. Changing attitudes towards women’s role in society and workplace by education, open discussions, putting Diversity and Inclusion guidelines into company policies, setting examples by senior management and training managers.