Cultural expectations in Asia are holding back the careers of women, according to Howden Singapore CEO Jenny Lim. In recognition of International Women’s Day, she told finews.asia about how such norms act as an impediment to female success and how to overcome them.
Women are rapidly, making up a larger portion of the global workforce. But their representation in the top roles is disproportionately lower. A recent MSCI report found that women account for 6.8 percent of CEO roles in listed companies on the MSCI ACWI Index.
While some of this could be because of biases in hiring practices, there are also factors attributable to the decisions of individual women themselves. In Asia, Jenny Lim, Singapore CEO of specialist insurance broker Howden, believes that culture is a major driver.
«In general, I have noticed that at entry to middle management levels, there is usually a balanced gender ratio. But at more senior levels, the ratio starts to tilt to men,» she said in a conversation with finews.asia.
Traditional Values
According to Lim, she believes that a major reason for the shift in gender balance in more senior roles is due to the common Asian belief that women need to take care of their families.
«In Asian culture, women are expected to prioritize family: it’s important to be a dutiful wife and mother. This has inadvertently led to women dropping out of the career ladder climb at the time when they are starting a family, which is likely to be around the same time when they could be positioned as senior leaders,» she explained.
«In some parts of Asia, there is also a strong culture of authority and obedience, so in a male-dominated environment, I feel that women tend to be trained to execute instructions, and they literally don’t know how to aspire bigger.»
Imposter Syndrome
With fewer and fewer women in more and more senior positions, Lim said that this will lead many to develop imposter syndrome, a behavioral health phenomenon described as self-doubt of intellect, skills, or accomplishments.
«Then a vicious cycle is formed: because there are fewer women in senior roles, women are less comfortable in senior roles given the lack of peer support, she added.
Ending the Cycle
Based on her own personal experience, Lim said that a focus on networking and learning is one of the best ways for aspiring career women to break out of this cycle.
«As they progress to mid-career, they should seek opportunities and overcome any imposter syndrome, as no one is ever perfect or 100 percent ready. At a senior level, women should play up our strengths to complement the team, and more importantly start to give back and support and uplift other women,» she noted.
Diversity Efforts
In addition, corporations also have a role to play in encouraging greater participation of women in the workforce. At Howden, for example, it provides flexible working arrangements, mental health support, and inclusive benefits. More than 60 percent of its leadership team in Singapore is currently female.
«The future is bright for women in finance, but it requires all of us. All business functions and individuals within an organization have a role to play – from inclusive hiring practices to ensuring mentorship is accessible to all employees to receive career guidance and support. True equity requires commitment and action from the top,» Lim said.
