KUALA LUMPUR – The number of women holding senior leadership positions in Malaysia has increased to a record high of 37%, despite the Covid-19 pandemic affecting global economies, according to Grant Thornton’s annual Women in Business report.
Grant Thornton Malaysia national tax practice leader Seah Siew Yun said the number is also above the global figure of 31%, surpassing the important 30% threshold, which, according to research, is the minimum representation needed to change decision-making processes.
“Seeing the proportion of women leaders in Malaysia rise from 31% last year to 37% this year is encouraging.”
The report said the number of women in operational executive-level manager roles has increased year-on-year, with the proportion of female chief finance officers rising by 12 percentage points (pp) to 41%, female chief marketing officers (+14 pp to 36%) and female chief information officers (+3pp to 20%).
However, the proportion of women holding chief executive officer positions has declined by 5pp to 10%, the report said, noting that this has been trending downwards since 2019.
The number of women in leadership positions in the Asean region also showed positive growth, from 35% last year to 38% this year.
The report said Malaysian businesses are taking positive action to improve the gender balance of their leadership team, including creating an inclusive culture (54%), ensuring equal access to developmental work opportunities (48%), and providing mentoring and coaching (47%).
“Recognising the importance of gender-balanced leadership team, more businesses are now walking the talk, and it is encouraging to see more businesses placing a priority in creating an inclusive culture in their workplace,” said Seah.
She said the number of businesses taking such initiatives has increased from 17% last year to 54% this year.
While the number of women in leadership roles has grown, she noted the pandemic’s impact on women, particularly working mothers.
The report revealed that 56% of respondents in Malaysia agree that in their respective organisations, the new working practices due to the pandemic will benefit women’s career trajectories in the long-term.
“Breaking the 30% barrier certainly does represent progress – having grown from 23% since 14 years ago when we first started tracking this – but these gains can easily be lost.
“Reassuringly, 85% of businesses in Malaysia say they are taking action to ensure the engagement and inclusion of their employees against the negative backdrop of the pandemic.” – Bernama, March 8, 2021
