Women in the financial sector still feel under-represented, but the key to getting them into the boardroom may be easier than you think.
According to a report by eFinancialCareers, both male and female professionals believe providing flexible working arrangements can help move more women into senior leadership roles.
A roundtable hosted by eFinancialCareers revealed while companies are hiring an equal amount of male and female candidates at entry level, many are facing retention challenges further up the organisation.
George McFerran, managing director of eFinancialCareers APAC, said the talent shortage at the top level could be a result of women dropping out of the labour market in their 30s and 40s.
“For most this choice is driven by family reasons rather than because they lack the skills, qualifications or experience needed in financial services,” he said.
The local government has announced it will be making a bigger effort to help companies provide better work-life balance so professionals can focus on starting families, as a bid to increase the country’s declining birth rates.
However, McFerran said companies still have a role to play and must not only provide these flexible arrangements but also raise awareness of it in the office.
“Our survey also revealed that over four in 10 (43%) respondents did not know whether their firm had gender diversity programmes or targets and over two thirds (38%) said their firm didn’t have them at all,” he said.
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