Lack of progress in Asia Pacific board diversity a cause for worry
A comprehensive Asia Pacific study by Korn Ferry, the preeminent global people and organisational advisory firm and the National University of Singapore (NUS) Business School’s Centre for Governance, Institutions and Organisations (CGIO), revealed that companies with greater female representation in the boardroom tend to be more profitable, but women still remain under-represented across Asia Pacific boards, with most countries showing little or no progress.
According to the findings, three countries in the Asia Pacific region, namely Australia, India and Malaysia, showed significant improvement in broadening women representation on boards across the companies. A combination of government initiatives has contributed to the increase in these countries.
Alicia Yi, Managing Director, Board & CEO Services, Korn Ferry explains: “It is clear that governments and regulators play an instrumental role in shaping the board diversity landscape. Whether it is through targets, quota or disclosure requirements, these measures are needed to help enterprises make a deliberate choice in considering female candidates alongside men for senior positions. The benefits to sustainability, talent retention, strategic growth and sustainable success are significant.”
Building Diversity
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