The 2022 MENA Women in Work survey by PwC shows that 40 percent of working-age women in the Gulf Cooperation Council (GCC) are in employment, compared with 64 percent across OECD countries. From a standing start, this presents the region with an uphill struggle when it comes to achieving parity in leadership positions.
The good news is that more women in our region than ever are heading out to work, gaining their independence, and building successful careers – even in senior roles. As a female CEO in the GCC and throughout my career journey, I have seen good progress in the representation of women in the boardroom and am proud to see females in leadership positions in Oman.
I am also encouraged that in my sector – financial services – many companies actively support and empower women in all kinds of areas. From human resources to ICT, finance, and the Board Room, women are appearing in senior posts.
The critical word here is ‘empowering’ – and I am pleased that at Al Ahlia, there is a concerted, strategic commitment to empowering women to unleash their full potential. But to build a corporate culture that genuinely succeeds in empowering women, there is a common hurdle: unconscious bias.
Within our region, hiring managers and recruitment teams often still struggle to overcome their own personal and collective bias – as is explained in an analysis by McKinsey. It suggests that the pandemic may have amplified biases against women, for example, when colleagues see young children playing in the background on video calls, when co-workers consciously or unconsciously assume that women are less committed to their jobs or when managers are evaluating women in performance reviews.
In the age of remote working and Teams meetings, there is less opportunity for visibility on women’s performance. This means it can become easy for historic prejudices to return to the subconscious.
Collectively, we must work to reverse unconscious bias and reaffirm the positive contribution of a balanced and diverse workplace. Most of us realise (or should by now) that companies with gender-diverse boardrooms achieve better outcomes. The evidence is overwhelming – and anybody doubting it can carry out a quick Google search to find the facts.
According to the Corporate Governance Institute, diverse boardrooms are good for culture and performance. The institute also proves that a higher level of gender diversity on FTSE350 boards positively correlates with better future financial performance. But it’s about more than money.
Women bring unique perspectives and experiences that can help companies make better decisions, increase innovation, and improve operational and financial performance. By excluding women from leadership roles, companies are missing out on valuable resources that could help them succeed in today’s global marketplace.
To tackle this head-on, we must take a multi-faceted approach to overcome the challenges of representing women in the boardroom. This includes addressing unconscious bias in recruitment, offering flexible work arrangements, providing mentorship and sponsorship opportunities, and advocating for equal pay and opportunities.
We must also create a culture of inclusivity that values and welcomes diverse perspectives. Of course, some might say, “we’ve heard all this before and little changes.” – which is why we must be vocal and visible. We must move beyond platitudes and backroom policies to become active advocates – we must stand up to champion the values of diversity and encourage others to join us.
All of our colleagues must engage because engaging in the inclusivity debate is crucial to driving progress forward. Companies must be proactive about creating a diverse and inclusive workplace and hold themselves accountable for progress. This includes setting diversity targets and regularly reporting on progress. It also means partnering with women’s networks and supporting initiatives that promote gender equality.
By taking a multi-faceted approach and embracing diversity, we can create a workplace that values and welcomes everyone. Now – as the world around us changes and through the post-pandemic challenges we all face – It is time to work together to create a future where women have equal opportunities to lead and succeed. It is time to break down unconscious bias, call it out when we see it, and create true equality in the workplace.
The future is bright, and I am optimistic that when we work together, we will achieve true gender equality in the boardroom.
