Female Talent Seen As Untapped Resource in Emerging Markets
Speaking live from The Economist‘s second annual The Ideas Economy: Human Potential Summit, a thought leadership event focusing on talent development, global job trends and competition, Hewlett discussed the challenges and opportunities professional women face in marketplaces still largely dominated by men.
“Women are doing better in the emerging world,” Hewlett said, comparing the U.S. with rising economies such as India and China. She noted that 15% of CEO’s in India are women, whereas only 3% of CEO’s in the U.S. are women. The reason behind this disparity, Hewlett explained, is that professional women in rising economies often have better support systems from their friends and family that enable them to succeed. 58% of professional women in India live with their parents or some form of relative. In China, as an unintended consequence of the “One-child policy,” young women are backed by the full resources of their family, which enable them to achieve unprecedented prosperity. While women in the U.S. are as equally educated and highly talented as their global peers, some foreign cultures are better positioned to offer “shoulders to lean on” for women climbing the corporate ladder.
However, Hewlett reminds us – there is still substantial inequality for professional women here and abroad. Regardless of origin, “Women do wonderful on the lower career ladder but stall out higher up…” as they pass middle management and strive for top positions. “This has nothing to do with having children…it’s a myth,” she says. “At age forty, 41% of professional women in this country do not have children.”
Hewlett explains that the fundamental reason women do not hold more executive positions is because power tends to be handed over to similar successors. Managers and CEO’s hire proteges in their own image, typically white, middle-class men. Hewlett’s research suggests that approximately 93% of all leaders are such “pale males.”
Ultimately, Hewlett recognizes that things are slowly moving in the right direction. She advocates an advanced form of mentorship, coined “sponsorship” that will allow women to obtain equal ground with male professionals at a more substantial rate. As women progressively climb the corporate ladder, they will benefit from reaching out to higher-up male or female sponsors, or “…individuals in high ranking positions at least 2 levels above them, in a position of power…decision makers” that can help them make the right career decisions.
Hewlett’s latest book, “Winning the War For Talent in Emerging Markets: Why Women Are the Solution,” co-authored with Ripa Rashid, further explores the relationship between women and the global workforce.