A Southeast Asian is facing a wake-up call as it scans the world in its efforts to bridge the gender gap, an expert told CNBC.
The World Economic Forum predicts that it could now take 195 years to achieve gender equality in the region, 59 years longer than the world average.
Sharmini Wainwright, general manager of recruitment agency Michael Page Australia, told CNBC that companies have a big responsibility to bridge this gap.
“Maybe it’s a good time to wake up here,” Wainwright said Thursday.
India, in particular, has a long way to go in this regard, he said, noting that the pandemic and other cultural and demographic issues made it an “incredibly difficult year” for the country. Currently, only 13% of India’s top executives are women.
“There’s a long way to go,” Wainwright said. “Big Indian companies (need) to really drive change.”
The findings are presented as part of a broader WEF study on the impact of the pandemic on the gender gap. It is now estimated that it will take 135.6 years to achieve gender equality, a generation longer than previously thought.
Western Europe led the way in gender equity, with an estimated gap that would close in 53 years, followed by North America (age 62) and Latin America and the Caribbean (age 69), according to the ‘study.
Thailand leads Asia-Pacific
However, other parts of Asia-Pacific showed signs of progress. Most notably, Thailand saw that more than half (53%) of senior executive positions were held by women in 2020.
Those senior women executives it used to be a combination of international talent and own production, especially within multinational companies in the manufacturing and supply chain sectors.
“What you have is an economy and a market that is moving very fast and chasing talent very aggressively,” Wainwright said.
She added that it was also the result of concerted efforts made in recent decades by certain industries, such as manufacturing, to attract and feed a leading women’s oil pipeline.
“Now, 20 years later, you’ve seen the benefit of that, of the people who have really taken the opportunity to enjoy exceptional careers in this industry and who are really getting into leadership roles,” he said.
More women are needed in the upper chair
Still, few women today hold the top leadership position, that is, the role of chief executive.
According to the report, the top three jobs held by senior women executives were the chief financial officer, the director of marketing and the legal director.
Wainwright described this as the next “great breakthrough to come” and asked the men to be better allies.
“How do we get to this number one place? It’s still a long way to go,” he said.
“This conversation is about both men and women. They are the ones who are usually in the most influential positions to make a change, to make a decision.”