RHB Merge Malaysia

For International Women’s Day (IWD), we discuss the barriers faced by women and what you can do to make a change.

We know of successful women in every field, including social, economic, cultural, scientific, and political spheres. In every story, they have had to overcome barriers that would not have existed had they been men. They succeeded despite these barriers and insurmountable odds. Imagine how many more successful women there would be if these barriers were removed.

Mary Anning was an unsung hero of fossil discovery, a pioneer in palaeontology. As a little girl, she received very little formal education as women weren’t encouraged to pursue education. Despite that, she taught herself geology and anatomy and made some of the most important discoveries in palaeontology. In 1823 Mary was the first to discover the complete skeleton of a Plesiosaurus, a finding disputed by (of course) male scientists. They stole credit for her finds. They were astoundingly dismissive to the point of not even inviting her to a meeting to discuss her own discovery!

While significant progress has been made toward gender equality over the past century, the changes we’ve seen have not been consistent or widespread enough to close the gender gap once and for all. The playing field is not yet level to allow unhindered access for all.

Gender gap issues impose barriers that slow social progress, economic growth, and human rights. This isn’t just fluff. The gender gap exists on multiple levels, throughout their entire lives. It doesn’t just impact their daily lives – it has a far-reaching impact on the economy, too.

Ask any successful woman what her largest obstacles were and she will likely mention the gender bias. Although women have made great strides in pursuing education, there are still challenges related to access to quality education and gender stereotypes influencing subject choices. Gender bias in STEM education and underrepresentation in certain fields persist. How many times have we heard terms like “male-dominated field”? Marie Curie, a pioneering scientist in radioactivity, wasn’t even allowed to enrol in university because she was a woman. She had to join a clandestine educational facility called The Flying University, which admitted women as a form of rebellion against the Russian empire. Where would we be without her contributions to science and medicine?

Gender bias is pervasive and even impacts women’s progress in the arts. At 61 years old, Tom Cruise is still churning out Mission Impossible films, but as soon as a female actress hits a certain age, she gets mostly mum and aunty roles, or “eccentric older woman” at best. That’s why we Malaysians are especially proud of our own Oscar winner Michelle Yeoh. A trailblazer, she has starred in countless action films, performing her own stunts. Her achievements have paved the way for women to demand the roles they want. She told the world in her Oscar speech, “Ladies, don’t let anybody tell you you are past your prime.”

Women are a valuable untapped resource in the labour force. According to the Department of Statistics Malaysia (DOSM), the labour force participation rate ¹ for women was just 55.5% for women, compared to 80.9% for men. Female representation in professional and technical work was just 40.6%. They were paid less, too. For every RM100 in pay received by men, women received RM96.21 for the same work. As we move up the career ladder, we see fewer women in leadership roles. Female representation in legislation, senior official and management roles was just 24%. Their representation in parliament was even lower, at 14.9%.

Source: Department of Statistics Malaysia (DOSM)

To truly move forward and make Malaysia a developed nation with progressive values, we must acknowledge the significance of these gaps and take tangible steps towards equality and inclusivity.

Empowering women economically benefits communities and nations by increasing productivity and driving sustainable economic progress. By providing women with equal access to education, employment, and entrepreneurial opportunities, we can unlock an abundant pool of talent and innovation.

Enacting change at the workplace

As a business owner, employer, manager, or even as an investor, you have the power to enact huge positive change. Here are some things you can do.

1. Break the stereotype

At home, society has imposed certain expectations on a woman that a man can never fully comprehend. Her opportunities to advance in her career are severely limited by this perception. She is still expected to perform most of the housework, care, and child-rearing duties, while also contributing to household income. A simple example is if she quits her job to stay home, no one bats an eyelid. If her husband does the same, they get all kinds of questions. This gender stereotype “ceiling” also restricts her chances of taking on leadership positions or branching out into entrepreneurship.

Caregiving is a shared responsibility. After all, both parents share the kid, right? At the workplace, advocate for policies and programmes that redistribute unpaid care and domestic work, including parental leave, childcare support, and flexible work arrangements. In some countries, parents are allowed up to 12 months of parental leave each. They can utilise this in turns so there will be one parent at home with the child for the first 24 months, which is a crucial bonding period. Not only will this promote a cultural shift, it’s also good for the family and sets a good example for future generations. This also alleviates the financial burden of childcare, which can be very costly. And it’s perfectly fine for dad to be a full-time caregiver – it doesn’t in any way make him “less” of a man.

2. Provide equal opportunities for leadership

Companies can provide leadership development programmes and mentorship for women to support their advancement. A target for female representation in leadership roles can be an integral part of an organisation’s sustainability plan to promote diversity and inclusion in key decision-making roles. This is the perfect opportunity for businesses to leverage the strengths of every person in the organisation.

Organisations can also push for a change in workplace culture by highlighting the importance of equal opportunities for career growth and advancement regardless of gender. This can be cemented in the form of policies that directly address workplace discrimination and disparities in pay.

3. Address gender-based violence

Women face higher rates of physical, sexual, and psychological violence compared to men. Gender-based violence, including domestic violence, sexual assault, and harassment, reflects power imbalances and entrenched misogynistic attitudes. While the government has recently enacted laws to address this, you can contribute to addressing this issue by implementing policies to prevent and respond to gender-based violence. These policies and procedures will ensure access to justice and protection.

4. Create alternative pathways to education

In this part of the world, women still face barriers to accessing quality education and vocational training, limiting their economic opportunities. Cultural norms, discriminatory practices and poverty restrict their participation in the workforce.

Your business can take a vocal stand in encouraging women and young girls to pursue careers in traditionally male-dominated fields. If the company provides courses, the company can use its social media posts to promote it.

You can provide vocational training, financial literacy courses, entrepreneurship support, and access to credit and markets to empower women – whichever is connected to your business. Emphasise the role of continuous learning and professional development in building a robust financial foundation. An added benefit is that the training can be a fantastic avenue for identifying talent for your business that would otherwise go unnoticed.

If you are keen on upskilling yourself, RHB provides personal financing-i* to help fund your educational journey, with rates as low as 3.04% per annum.

5. Promote awareness of women’s health issues

Your workplace policies should support women’s health, including reproductive rights, access to healthcare, and maternal wellbeing. Encourage your employees to prioritise their mental health, as it can impact decision-making, career progression, and overall financial resilience. A simple example is to allow menstrual leave, as it can be painful, and physically and mentally draining.

6. Invest in women-led businesses

As part of your research in diversifying your investment portfolio, consider including companies with strong diversity and inclusion practices. Research suggests that companies with diverse and inclusive workplaces tend to be more adaptable, innovative, and resilient.

Diversity brings a wider range of perspectives, experiences, and ideas to the table, which can lead to more creative problem-solving and decision-making processes. A study ² by Boston Consulting Group (BCG) found that companies with above-average diversity on their management teams reported higher innovation revenue compared to companies with below- average diversity.

In implementing these steps, we can create a more comprehensive approach towards a society that embraces diversity and inclusion and ensures equity and equality.

*RHB Personal Financing-i Terms & Conditions apply.