May 1st is International Workers’ Day, a public holiday in China and many countries around the world. Some people that aren’t resting, however, are the business women in Beijing. The number of Chinese businesswomen is growing rapidly, but, as CCTV reporter Martina Fuchs finds out there is still a glass ceiling for women trying to access the boardrooms and gain high-level executive positions.
Meet Jennifer Mao-Jones. Jennifer’s full-time job is to work for one of the oldest U.S. law firms in its Beijing office. In her spare time, however, Jennifer heads 85 Broads, a worldwide network for high-caliber women.
"We have more women coming out of universities with better academics and better credentials than men, consistently. this is happening across the board in China. At 85 Broads the mission statement and the idea is that if we get a lot of great, high-achieving and intellectual women in the same room then great things can happen. Our goal is to change the course of history for future women throughout the world and in our communities," she said.
It’s not an easy job to be a business woman in Beijing, with the number of women in leadership and C-level positions still extremely low compared to their male counterparts. At a recent conference in Beijing to empower women, female executives say Beijing’s corporate world needs a shake-up.
"Well, it’s a pyramid. Any time you get to a certain level on a pyramid there are less and less people that are peer to you. So for a lot of women executives it becomes very lonely. You may be the only woman executive or maybe two women executives so you only have yourself or another to compare maybe to all the other male executives that have many many many peers that can support you. So it’s very hard once you get to the pyramid at the top to stay top, engage, and get on to the next level," said Su Cheng Harris-Simpson, Exec. Dir. Greater China, Weconnect International.
Anita Tang is Managing Director of Royal Roots Global, a business strategy advisor focusing on the U.S.-China business space.
"That’s kind of in our DNA. Men are just like this, women are like that. I can’t explain. Women tend to multi-task. And men they only do one thing at a time. We have to look for an environment in which we can multi-task but in which we can always focus in what we do. So this is something a woman leader will have to pay a lot of attention to. We cannot always multi-task. If we do, then we have to make sure that the most important task we do is successful and focused," said Anita Tang, managing director of Royal Roots.
That’s why it’s hard to believe that, according to Deloitte, the proportion of female members on the boards of companies in China is only 8.0%. That compares to 16.1% in the United States, and 16.0% in Germany.
Empowering Women is still an 'Unfinished Business'. Not just here in Beijing but around the world. So what should companies do to get more women to the very top of the corporate ladder?
The Hong Kong Stock Exchange, for example, has introduced a rule that requires listed companies to report on their board diversity.
Making boardrooms more varied would also be good for business. A number of studies by Ernst & Young, McKinsey and others have shown that companies with more women in leadership roles perform better financially.
