GlobeWomen.com
Linking BusinessWomen Worldwide
GLOBEWOMEN ENEWS
ISSUE NO. LXII, JULY 30, 2007
THIS ISSUE’S HIGHLIGHTS:
I. VIETNAM’S WOMEN CORPORATE CEOS: LEADING ASIA’S NEWEST ‘TIGER’
II. UNICEF REPORT – GENDER BIAS LEADS TO POORER FAMILIES
III. AGING POPULATIONS AND GLOBAL IMPLICATIONS
IV. U.S. WOMEN AND THE SOCIAL COST OF NEGOTIATIONS
I. VIETNAM’S WOMEN CORPORATE CEOS: LEADING ASIA’S NEWEST ‘TIGER’
The largest company in Vietnam, Vinamilk – a dairy processor -- has a female
CEO and four of the company’s board members are women. The largest publicly
traded financial institution in the country, Sacombank, has a woman running the
management team. The ninth richest person in Vietnam is the chairwoman and CEO
of Ree Corporation, a home appliance, construction and real-estate company.
The agency charged with privatizing state-owned companies, the State Capital
Investment Corporation, is now headed by a woman. In all, Vietnamese women are
in charge of companies representing more than 30% of the country’s stock-market
capitalization, compared to the U.S., which only has 2% of Fortune 500
companies headed by women.
This equal footing in business is a result of the Vietnam War, when many women
served in combat or worked in dangerous support units. Gender roles were
abandoned for survival. There are historians, however, who date Vietnamese
women’s more equitable status far earlier to pre-Chinese colonization of the
country, when they speculate that Vietnam may have been a matriarchal society.
Two sisters named Trung are credited with raising the army that defeated
Chinese occupiers, a feat for which they are honored with plaques and statues
in temples all over Vietnam. (Source: Wall Street Journal, 7/19/07)
“The Global Summit of Women is looking forward to showcasing Vietnamese
businesswomen’s talents and expertise at the 2008 Summit, which will be hosted
by Vietnam in Ho Chi Minh City (formerly Saigon),” remarks Irene Natividad,
Summit President. Now Asia’s newest ‘tiger’ economy because of its fast
growth, Vietnam hosted the APEC meetings in November, 2006.
II. UNICEF REPORT – GENDER BIAS LEADS TO POORER FAMILIES
In a recent survey of family decision-making in 30 countries around the world,
UNICEF found that inequality at home between men and women leads to poorer
health for the children and greater poverty for the family. When women are
excluded from family decision-making, the children tend to be malnourished.
The State of the World’s Children 2007Report found that where men control the
household, less money is spent on healthcare and food for the family, resulting
in poorer health for the children. When women’s income increased, they spent
their monies on more food for the family, whereas an increase in men’s income
made no significant difference, according to the report.
“There is no tool for development more effective than the empowerment of
women,” stated former UN Secretary General Kofi Annan. He adds: “
Discrimination against women of all ages deprives the world’s children – all of
them, not just the half who are girls – of the chance to reach their
potential.” The UNICEF report points to a greater lack of opportunities for
girls and women in education and employment, which contribute to disempowerment
and poverty. UNICEF estimates that gender equality in family decisionmaking in
South Asia would lead to 13.4 million fewer malnourished children.
(Source: BBC News, 4/30/07)
III. AGING POPULATIONS AND GLOBAL IMPLICATIONS
For the first time in history, there are almost 500 million people over the age
of 65,
and this group now outnumbers children under the age of five. According to the
report, Why Population Aging Matters: A Global Perspective: “Societal aging
may affect economic growth, the sustainability of families, the ability of
states and communities to provide resources for older citizens and
international relations.” European countries, Japan and Korea are already
facing these consequences. The U.S. is looking at a giant brain drain when 75
million ‘baby boomers’ begin to retire soon. Replacing them will be a talent
pool of only 45 million available workers from the next generation.
With people living longer, many have indeed postponed retirement and
remain engaged in the workplace. One third of people in their 60s and 11% of
those over 70 still work, and it is expected that these numbers will increase.
According to the OECD (Organization for Economic Opportunity), “We can no
longer afford to waste the valuable resources that older workers offer to
business, the economy and society.” The OECD recommends that governments
ensure that pensions and other welfare arrangements encourage rather than
discourage work. Employers must end discrimination and adapt work practices
for a diverse workforce that includes older employees (Source: International
Herald Tribune, 6/13/07)
IV. U.S. WOMEN AND THE SOCIAL COST OF NEGOTIATIONS
The persistent gender gap in salaries, as well as disparities in how
women and men rise to the top of corporations may be due in part to women not
negotiating pay, promotions or benefits as assertively as men, according to
early studies by Professor Linda Babcock of Carnegie Mellon University.
Currently, U.S. women earn 77% of men’s salaries, and Prof. Babcock points to
women not pushing for a better deal at various stages in their careers.
Her most recent research, however, offers a different explanation. She
found that women’s reluctance to negotiate was based on an accurate view of how
they would be treated if they did. The bottom line is that both men and women
were more likely to subtly penalize women who asked for more. “What we found
across all studies is men were always less willing to work with a woman who had
attempted to negotiate than with a woman who did not,” states Harvard Prof.
Hannah Bowles who worked with Babcock on the current research. “They always
preferred to work with a woman who stayed mum. But it made no difference to
the men whether a guy had chosen to negotiate or not…. Yes, there is an
economic rationale to negotiate, but you have to weigh that against social
risks of negotiating. What we show is those risks are higher for women than
for men.” (Source: Washington Post, 7/30/07)
2007 COLLOQUIUM FOR WOMEN DIRECTORS
“ENHANCING SHAREHOLDER VALUE: EMERGING TRENDS AFFECTING CORPORATE GOVERNANCE”
Harvard Club, New York City, September 20-21st
The Colloquium is open to women corporate directors and executives who are
board-ready. Click to www.globewomen.com for information on program and
registration.
|
