Breaking the Male Cartel in the Workplace

The following excerpts are from an article featured in the Financial Times on Thursday, April 24, 2008 written by Helen Mees.

“…Women have become the engines of global growth over the past decade, according to the Economist magazine.  This is especially true in east Asia... In the Philippines, 89 percent of companies have women in senior management positions.  China, Hong Kong, Indonesia, Taiwan, and Singapore follow closely in terms of women in top jobs.  Even in India, where more than half of all girls and women are illiterate, a higher share of women hold senior management positions than women in countries such as Germany, the Netherlands and Portugal.  In Europe, the percentage of women on corporate boards remains in single digits and the same applies to female professors and government officials. 

When China and India are on the rise and Europe’s population is ageing, human capital cannot afford to be wasted.  Europe must increase labor participation considerably.  A society that ignores the talent of half the population will not prosper... According to a recent study by McKinsey, the management consultancy, companies with a higher proportion of women in senior management positions are on average 48 percent more profitable than rivals.  Diversified management means better management.

Male dominance in the marketplace works like a cartel: it impedes proper functioning of the market barring talented women from top jobs.  The old boy network should be busted like any other cartel.  But women, too, must adjust.   Top jobs require more than two days a week and do not coincide with school hours.  Assuming the responsibilities that have long belonged to men requires that women let go of the tasks that have prevented them from advancing.
…Isn’t it time we reaped all the fruits that women have to offer?”