Vietnamese banks need more women in leadership roles: IFC
VOV.VN - National banks should have more women in leadership roles as a way of promoting inclusive and high-productivity growth, according to a new study conducted by IFC in partnership with the State Bank of Vietnam.
The study themed “Mind the gap: Getting more women into leadership in Vietnam's banking sector” showed while women make up 60% of the entry level workforce in local banks, less than a third make it to senior and top management positions.
The study revealed there was strong recognition of the value of gender equality within the banking sector, especially on how gender diversity in senior positions could help banks to attract and retain skilled workers while simultaneously expanding a robust base of female management talent, thereby boosting workforce productivity and financial performance.
"Promoting gender equality and women's representation in leadership positions is important to the State Bank of Vietnam. This report, resulting from the close cooperation between the State Bank of Vietnam and IFC, provides a snapshot of where women and men are in the banking sector, the challenges that women face and introduces ideas and recommendations to have more women in leadership and management positions," the State Bank of Vietnam confirmed.
The study also highlighted that while 80% of people felt safe at work, nearly one in five had witnessed bullying, with similar responses among both men and women. Based on surveys of nearly 40,000 employees from banks, as well as sit-down interviews with senior and middle bank managers, the study also showed that women wanted better support in terms of work-life balance.
"Lack of gender diversity in leadership in the banking sector is a persistent problem globally," said Thomas Jacobs, country manager for Vietnam, Cambodia and Lao PDR of IFC.
"While Vietnam is doing better than some other countries in terms of women in bank management, this report clearly shows more should be done to turn commitments into practical steps enabling women to move into leadership positions. We know that gender balanced leadership leads to better financial returns and other benefits for employees, investors and business," he noted.
As a first step and part of efforts to help tackle the gender gap in banking, supported by the State Bank of Vietnam, IFC is setting up a special initiative for Vietnamese banking institutions to learn from successful global practices, with a focus on talent development, succession planning, and creating more flexible and inclusive workplaces.
