Women in a Changing Economy

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Women in a Changing
Economy

• Maram Habash Shalini Warrier

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Our key messages

• Women are a force of economic growth that can no
  longer be ignored.
• Todays economic crisis could have been averted,
  or at least minimized, if we had recognised the
  force of women earlier
• The effect of the credit crisis on women has been
  devastating
• The time to act is now. It is vital that women
  play an active role in rebuilding our fallen
  economic system.

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Women as an economic force

• Contributed more to the expansion of the world
  economy than new technology or the emerging
  markets of China and India.
• Strong correlation between financial performance
  women in leadership roles
• Dividends for wider community women re-invest
  more than 90 of their income
• Control resources of the household
• Single biggest-and least acknowledged- force for
  economic growth on the planet.

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Could Females have changed the World Today ?

• There has been talk on whether if Lehman Brothers
  had
• been Lehman sisters- would we be in the same
  mess?
• Half of the human capital have not been
  channelled into the economy and excluded from the
  decision-making process
• Male biology and uncontrolled emotional responses
  may have played a part in the credit crunch

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The impact of the Economic Crisis on Females

• Unfortunately not enough attention is being paid
  to the
• devastating effects the crisis will have on women
• Evidence shows twice as many women are being made
  redundant during the economic downturn
• Women leaving the workforce will jeopardize
  gender equality in the workplace
• Dropping out of the educational system
• Change in the female consumption patterns in the
  developed world.
• Limited access to finance

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Riding the storm

• The crisis has encouraged advocates of boardroom
  diversity to reiterate the business case of
  female involvement
• Many corporations and governments realize now is
  the time to accelerate and re emphasize the
  commitment to the advancement of women
• An opportunity to capitalize on the contributions
  women make as leaders, entrepreneurs and
  employees.
• Being more risk-averse and reluctant to take on
  huge amounts of debt is considered a strength
  now.

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Time to act

• Create opportunities for women in the workforce
• Attract them
• Retain them
• Train them
• Policies and practices that enable them to excel
• Raise awareness and capitalize on the economic
  power of women
• Strong Sponsorship
• Design products programs
• Easy access to finance
• Support the unprivileged females to have control
  over their destiny and have a better future

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Women as employees Why

• Significant enhancer to financial performance
• Drivers of global growth
• Untapped talent pool
• Loyalty

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Women as employees What are we doing

• We have created an inclusive environment that
  supports
• our female workforce
• Talent Management Process
• Targeted development and leadership programmes
• Mentoring programmes
• Employee Networks
• Role Models
• Hardwiring
• Flexible Working Arrangements
• Inaugurated kids crèches in selected countries
• Introduced Happy Friday/Thursday
• Awareness commitment

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Women as customers Why

• Major economic force
• Most effective way of achieving sustainable
  economic growth
• Higher repayment rates
• More risk averse

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Women as customers What are we doing

• The Diva Account
• - Offered in Africa and the Middle East
• - Account comes with exclusive benefits
• Attractive interest rates on saving account
• Life Protection Plan
• Dedicated desk for ladies financial needs
• Preferential interest rates on all loans
• All Women Branches
• Primary goal is to provide financial
  independence to women customers
• Provide workshops for women on financial
  planning and investment
• Create interests groups like yoga classes

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Women as customers What are we doing

• Microfinance
• 80 of the Banks microfinance portfolio is women
• Since 2006 we have provided USD285m across 15
  countries
• On track with our CGI commitment to reach USD500m
  by 2011

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Women in communities Why

•  

• Sustain our business growth
• Empowering women is the key out of world
  poverty
• Women reinvest 90 of their income in their
  families and communities

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Women in communities What are we doing

• Pledged to economically empower 5000 women across
  Asia over three years (Dec, 2008 at CGI)
• Agreed to be a founding member of Women Can
• GOAL Programme

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Conclusion

• We need to do whatever it takes to take part in
  this new era and learn from the crisis.
• We have to capitalize on the contributions women
  make as leaders, entrepreneurs and employees.
• Leaders need to embrace the differences across
  gender and culture and be open to new
  perspectives
• Realize and harness the powerful and positive
  effect that womens empowerment and leadership
  can have on the global economy

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• Thank you

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References

• GroundBreakers
• Using the strength of women to rebuild the
  economy.
• By Ernest and Young
• This mess was made by men. Now let the women
  have their say
• By Ruth Sunderland
• Iceland calls in women bankers to clean up
  'young men's mess'
• By Sarah O'Connor in Reykjavik
• Get women on board, bailed-out banks urged
• By John Willman, Business Editor
• The real victims of this credit crunch? Women
• By Ruth Sunderland
• Women will lose out in scramble for new jobs

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References

• Women losing jobs twice as fast as men
• By Isabel Oakeshott,
• Downturn 'hitting women harder'
• Unknown
• HR must ensure fair treatment of women during
  credit crunch
• By Guy Logan
• Women's strength will rebuild the world economy
• By Franco Capaldo
• Women needed to solve financial crisis
• Kate Burgess