ACCA and Talent Corporation Malaysia (TalentCorp) today released a report entitled iRetaining Women in the Workforce' which sought to understand the reasons behind Malaysian women’s low participation in the labour force.
According to the World Bank - Malaysian Economic Monitor November 2012 Report, the labour force participation rate among women in Malaysia falls short at 46% compared to ASEAN countries like Singapore (60%) and Thailand (70%).
To gain a better insight on this issue, ACCA and TalentCorp mooted a joint survey in mid-2012.
The survey revealed the following:
- 93% of female respondents on a career break had considered re-entering the workforce; however 63% find it difficult to do so;
- Only 30% of the respondents' employers have flexible work arrangements policy;
- Only 7% have childcare support facility in place
The report highlights that while there are some within Corporate Malaysia which champions gender diversity and inclusion programmes, the fact remains that this is currently not in wide practice among Malaysian employers.
To move Malaysian employers more swiftly up the learning curve, ACCA and TalentCorp had also formulated the 50 Champions of Gender Diversity Campaign where 50 of Malaysia's leading organisations from a cross-section of multinational corporations (MNCs), public listed companies (PLCs), government-linked corporations (GLCs), government agencies and regulators were carefully selected to participate in the 50 Champions campaign.
This campaign aims to distinguish and laud these 50 leaders and their organisations in Malaysia for gender diversity and inclusion initiatives, which includes rewarding women's contributions in the workplace equitably and supporting women's advancement into the C-suite and the boardroom. At the same time, these 50 Champions will serve as role models for other organisations in the Malaysian environment as the latter strive to improve their own talent development and retention structures modelled on the best practices of the 50 Champions.
ACCA and TalentCorp believe that the findings presented through the report will be useful in innovating and refining gender diversity and inclusion strategies to help achieve full participation by women in the workforce, whether in the public or private sector.
To download the report, click here.