At a recent roundtable discussion among Filipina leaders and professionals organized by professional networking service LinkedIn, thought leaders agreed that diverse hiring is essential in the face of a looming global economic slowdown.
Photo from LinkedIn
“It is critical to put together gender-neutral hiring panels and training for hiring managers and team leaders on removing biases and fair hiring practices that encourage flexibility,” said LinkedIn Asia Pacific manager Feon Ang at the event, where she exchanged insights with women business leaders in the Philippines towards bridging the local gender gap.
“It’s a win-win situation – improving workplace diversity and gender parity throughout all levels of organizations, especially in leadership positions, not only levels the playing field for women but also works best for business outcomes.”
“When businesses have people with varied strengths, backgrounds, and viewpoints, they are better able to cultivate the creativity, innovation, and resilience they need to survive and thrive,” she added.
Ang cited a recent McKinsey research that showed that diverse executive teams were 25% more likely to provide an above-average boost to their companies’ profit margins. Meanwhile, roundtable attendees said that companies could benefit from the empathy, determination, and appreciation of multiple perspectives that women executives bring to the workplace.
LinkedIn contributed data to the 2022 Global Gender Gap Report of the World Economic Forum, showing that the Philippines outstrips its Asia Pacific neighbors in terms of Filipinas in leadership roles: in 2022, close to half or 43% of Philippine leaders are women – up from just 34% in 2015.
The Philippines also ranks fourth globally and first in the Asia Pacific region in terms of women’s representation in leadership positions. Nevertheless, LinkedIn cautioned that the glass ceiling remains, with data showing that Filipino men are 26% more likely to be promoted than women.
