South African women have come a long way in the boardroom; however, they still have a lot of work to do when it comes to making their mark and claiming ownership at board level.
In a rapidly evolving world, one would think that considering all the milestones we have passed and overcome as a nation and country, gender equality in the workplace is automatically observed.
At the Beijing Conference of 1995, women’s rights came to the fore. Here delegates prepared a declaration and platform for action aimed at achieving greater equality and opportunity for women. In South Africa we have our Bill of Rights, which was intended to promote the rights of women as equal citizens. This legislative environment is very much in line with a global trend that indicates that the advancement of women who hold leadership positions is linked to a legislative framework or environment and not a voluntary action of society.
Even with these milestones of women making their mark across various industries being very prominent and continuously encouraged, the success of gender transformation according to Stats SA and other relevant sources tells a different story.
Other than government, corporate SA shows an 80/20 split in the job market focused mainly on levels of directorship such as executive and board levels whereby men dominate the workplace.
According to the Stats SA 2015 survey, the gender gap is higher in the private and semi-private sectors. The percentage of senior posts held by females in state-owned enterprises is only 24%, with 76% being held by men.
Similarly, in chapter institutions this number is only 25% of senior leadership positions being held by women, with 74% held by men.
The most alarming, however, is when we look into the JSE Top 40 listed companies and find that only 3% of these CEOs are women.
“South Africa has a long way to go in establishing and promoting the future of female leaders. This clearly indicates the importance of gender mainstreaming as well as BEE transformation at board level,” says MD of Transcend Talent Management, Zanele Luvuno.
According to a report released by PwC, Executive Directors 2014, only 13% of women hold executive roles in the basic resource sector, in comparison to the 87% of males who occupy the same space. It highlights the amount of work still to be done and also the fact that the gap between male and female at board level continues to grow.
Another area of concern to be pointed out is the financial services industry, where the positioning is 85% male and 15% female split. Given these facts, it is evident that women in the workplace have a long way to go and grow, especially at board level.
Research has further pointed out that women at board level play a vital role in the dynamics of the organisation, bringing to the table more productivity, a visible increase in companies’ bottom lines and seeing better corporate governance. With there being a business case for women in leadership positions, why then has corporate South Africa been so slowly to transform?
The Businesswomen’s Association of South Africa indicates that women are mostly appointed in non-executive directorship positions, only 9,2% of women hold chairperson positions and only 2,4% of women are appointed as CEOs.
An argument for keeping women out of leadership positions has been our desire to have children and our responsibility to our families. Being the ever-increasingly independent beings that they are, women have become accustomed to a work/life family balance and are able to single-handedly juggle all these responsibilities.
By not empowering women, we not only deprive the economy but also deprive households of opportunities, where in this day and age run households as single parents and mothers, providing for their families. The facts continue to unravel of how male candidates have owned the corporate leadership space over decades and have been given preference over more senior opportunities.
Transcend Talent Management offers unique and tailored solutions to boards and companies to help align and place qualified women into leadership positions. Being headed by a successful female promotes the placement of women at directorship levels and into transactions so that we may start to be drivers of initiatives such as black industrialisation. Managing Director Zanele Luvuno focuses on partnering clients with the appropriate black partner to create the perfect fit and relationship for long-term success.