Female business leaders participate in the Vietnam Women Entrepreneurs Forum 2020. (Photo: VNA) Hanoi (VNA) - According to a new report by the International Labor Organization (ILO), businesses in Vietnam are facing a shortage of talent. This situation can be addressed by recruiting and assisting more women in management positions.
Barriers by gender stereotypes
The research report "Paths to success: Women in business and management in Vietnam" was published at the workshop "Gender equality in the workplace - creating sustainable values" by the Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with the Vietnam Business Coalition for Women's Empowerment (VBCWE), Investing in Women project (Australia) and the ILO held online on November 17.
The report emphasized that women benefit businesses and gender diversity as a smart business strategy that increases profitability and productivity, increases talent retention, and fosters innovation.
At the meeting, Ms. Valentina Barcucci, ILO economic-labor expert, said: “Among women participating the labor market, 10 percent have graduated from university, while this rate among young men is only 5 percent. Currently, the proportion of women working in science, engineering, technology and mathematics (STEM) is 37 percent and it will continue to increase.
"The good news is that Vietnamese women are better prepared to take on decision-making positions in businesses. The talented community continues to expand," said Ms. Valentina Barcucci.
The report shows that businesses need to achieve a certain percentage of female leaders in order to take advantage of the benefits of a gender-diverse environment. The report shows that development and advancement in women's careers in Vietnam are still influenced by gender stereotypes. The proportion of women in management positions is low, and even less at the top management levels, a phenomenon commonly referred to as a "leaky pipeline."
Among the enterprises surveyed in Vietnam, 63 percent said that the company has women in management level, 73 percent confirmed that they have women in middle management position but only 15 percent responding that there are women at the top level of management and administration.
“Research results show that there are certain prejudices. 54 percent of the interviewees agreed with the view that women with the same skills and qualifications as men are more likely to be promoted or appointed to the highest level of management than men. Gender stereotypes in managers' thinking can be a barrier for women when they strive to hold leadership positions,” said Ms. Valentina Barcucci.
Reducing gender inequality
The fact that women often spend twice as much time as men do unpaid household chores while working in society is about the same as men, which makes it difficult for women to pursue their career.
Mr. Hoang Quang Phong, Vice President of VCCI acknowledged that gender inequality remains a big challenge for the country's sustainable development.
“Even when women make many essential contributions to society and the economy, they are not really appreciated in the labor market and have not benefited from equal economic growth. with men,” according to Mr. Hoang Quang Phong.
Vietnam is making positive changes towards reducing gender inequality in opportunities between women and men in the labor market. The revised Labor Code, which will take effect from January 1, 2021, marks important strides in reducing the gender gap in retirement age and discrimination in the workplace. The draft Socio-Economic Development Strategy of Vietnam for the period 2021-2030 also calls for narrowing the gender gap in the political, economic and social life of the people.
Ms. Valentina Barcucci said that although businesses are ready to close the gender gap they cannot do it unilaterally. Top leaders need to put the facts and findings of this report into action.
Also within the framework of the seminar, Power Generation Corporation 3 (EVN Genco3) was awarded the Economic Dividends for Gender Equality (EDGE), bringing the total number of enterprises in Vietnam to receive this certificate to eight./.
