Gender | Zigguratrealestate

Ziggurat Realestatecorp

Sep 61 min read

Philippines places 70th in 2024 Gender Index

The Philippines ranked 70th out of 139 countries in the 2024 SDG Gender Index by Equal Measures 2030. The Philippines scored 67.52 out of 100, one of the lowest in the region.

Despite this, the country scored slightly above the Asia and the Paciﬁc average score of 66.48 and the world average score of 66.13. This index assesses progress on gender equality and provides a snapshot of where the world stands on the vision of gender equality outlined in the United Nations’ 2030 Sustainable Development Goals (SDG).

Based on the report, no country has achieved the promise of gender equality envisioned in the 2030 Agenda.

Source: Business World

Ziggurat Realestatecorp

Aug 233 min read

Women comprise 40% of leaders in firms

Women comprised 40 percent of executive leadership teams (ELT) among companies listed on the Philippine Stock Exchange from 2020-2022, research released on Tuesday by the Philippine Business Coalition for Women Empowerment (PBCWE) showed.

The research, titled "Census on Women in Leadership Roles in Philippine Publicly Listed Companies," highlighted the critical role that gender diversity plays in the country's corporate leadership landscape.

According to the census, from 2020-2022, two-fifths of ELTs in publicly listed companies (PLCs) are women, with the number of female chief executive officers (CEOs) also seeing a gradual increase.

In addition, the census claims that many women in ELTs continue to occupy functional or support roles, adding that the data indicates there has been an improvement in the representation of women in line or operational roles.

The number of women on companies' boards of directors also grew, reaching 21 percent in 2022, while female chief executive officers remain underrepresented at just 13 percent.

The census noted that despite some progress in diversity, there was a need for concrete gender targets, as only 2.0 percent of large firms and none of the small and medium-sized firms have set specific gender diversity targets. Furthermore, most firms have broad diversity policies that must be complemented by concrete targets in order to be measured and achieved.

"'The Census on Women in Leadership Roles in Philippine Publicly Listed Companies' is more than just a report; it's a call to action for the Philippine business community to embrace gender equality as a driver of sustainable growth," said Ma. Aurora Geotina-Garcia, founding chairperson and president of the Philippine Women's Economic Network and chairperson of the PBCWE's Governing Council.

"This study is a vital resource for organizations committed to strengthening gender equality in the workplace," she emphasized.

Geotina-Garcia said that women in corporate boardrooms comprise only around 1 percent a year, adding that there are two schools of thought on how to increase representation: regulators should make women representation mandatory or make women representation voluntary.

"Ideally, the desired representation of women in boards should be around 30 percent. We have countries who've actually imposed quotas, including Malaysia, which is [a member of] Asean, and countries like France," she said, referring to the Association of Southeast Asian Nations.

However, if regulators impose quotas for gender diversity, companies would have the tendency to deliberately and intentionally recruit females, or they would just comply by putting their wives or daughters in their ELTs.

"It doesn't necessarily follow that if you put a female relative on the board, that they're incompetent. So, the understanding should be that, yes, you put them on the board to meet the quota, with the assumption that they have the ability to contribute to the board," she explained.

The other approach is to make it voluntary, but making it voluntary will make the increase slower, and will take a lot of effort and time before gender equality in the workplace will happen.

"In my view, make it mandatory but not penalize them immediately. Give them time to comply. And then eventually, they don't consciously and intentionally say that when we start looking for board members, we should also deliberately have a goal of [hiring] women," she added.

For his part, Securities and Exchange Commission (SEC) Commissioner lawyer Javey Paul Francisco said, "We at the SEC are uniquely positioned to lead by example. We are committed to implementing policies that enhance corporate governance and champion gender equality, ensuring that our actions contribute to a more equitable and effective business environment."

He added that amid the challenges that lie ahead, the journey toward gender equality is far from over.

"Our vision is a future where gender equality is a given; where it is not just a matter of social justice but rather a strategic necessity and a smart business move leading to greater employee retention, enhanced creativity, and overall better business outcomes," he said.

Source: Manila Times

Ziggurat Realestatecorp

Apr 32 min read

Gender inequality cited as barrier in achieving work flexibility in PHL

Some 53% of women responding to a study said gender inequality is hindering their ability to access flexible work, according to the Avon Global Progress for Women report.

The beauty products company said some 18.6% of respondents also said they were hindered in starting businesses by gender inequality.

In a statement, Avon said respondents cited childcare responsibilities as among the factors obstructing their career and entrepreneurship goals.

“This research shows that we’re still a long way off gender equality. …we need to do more to create opportunities for women to contribute to the economy, participate in work, and realize their potential,” Avon Chief Executive Officer Kristof Neirynck said in a statement.

Global research company Censuswide surveyed 7,000 women from the UK, Italy, Romania, Poland, the Philippines, Turkey, and South Africa. The survey was conducted in December.

Globally, respondents who cited gender stereotypes as a barrier to equal opportunity totaled 89% in the latest sudy, up from 86% a year earlier. Those who perceive representation in business to favor men also increased 5 percentage points to 61% between studies.

Respondents citing gender pay gaps totaled 52% in the latest study, against 46% previously.

Avon, referring to a United Nations study, said women earn a third of the global income generated by labor and estimated that for each dollar earned by men, women earned 51 cents.

According to the Global Gender Report 2022 of the World Economic Forum, the Philippines was 19th out of 146 countries in the Global Gender Gap Index.

In the Avon report, women who cited difficulties in rising to senior positions accounted for 57% of all respondents.

WORKPLACE AS A REFUGE

Despite harassment and micro-aggressions in the workplace, some women described work as a place of refuge.

In the Philippines, 44% out the 1,000 respondents said they have seen a colleague who appeared to have suffered signs of domestic abuse, including physical injuries.

About 48.79% were confided in by a colleague about being abused by a partner at home.

The Philippine National Police recorded 13,122 cases of violence against women in 2023, 59% of which turned out to be in breach of the Anti-Violence Against Women and their Children Act.

Source: Business World