Dubai — Women in the Arab region are contributing notably to its economic growth and development. With the rise of female board appointments, women can play a crucial role in making strategic decisions, applying governance and over seeing risks. According to CTPartners Executive Search Inc. (AMEX: CTP), a leading performance-driven executive search firm serving clients across the globe, surveys show that these powerful tasks can be attributed to women as they are ready to take on more responsibilities and accept challenges. CTPartners have further stated that Arab women in the region, especially from UAE, Saudi Arabia, and Qatar are making powerful corporate leaders and board members. With an exemplary educational background and a strong sense of economic growth, they are highly competent individuals who offer a mix set of skills, experiences and backgrounds. This is evidently reaffirmed by a recent study conducted by Arabian Business on the 100 most Powerful Women in the Arab region. Sheikha Lubna Al Qasimi, UAE's Minister of Foreign Trade topped the list, with Saudi Princess Ameerah Al Taweel and Sheikha Al Bahar, CEO of National Bank of Kuwait in tow within the top ten. Women are even acting as leading entities in their family businesses in the region. A prime example would be Sarah Belhasa, Vice Chairman of Saif Belhasa Group of Companies. CTPartners believes that changes in the economy today have stirred demands for directors with insights into new customers, technology, distribution channels and global markets, which have induced the search for diversity within boards through the inclusion of more women. This gives the opportunity to create a boardroom with varied perceptions, which leads to better-informed discussions and more effective decision making. A recent study by Accenture also shows that changes in the current geo-political and economic environment trigger a vivid view of inclusion and diversity through the blend of an array of capabilities, cultures and perspectives. The study covered a vast range of women employment related topics in the Arab region. A total of 3,900 business executives from medium to large organisations across 31 countries took part in the survey. The key findings are as follows: l 71 percent of women stay in their jobs due to flexibility in work arrangement. l Women have made significant advancements in the career front in the past decade. Although equality with men in terms of seniority and pay scale may take another 10 years. l Companies are taking initiatives and investing in their female employees to support career advancement. l 80 percent of UAE women are ready to take on more responsibilities as opposed to the 58 percent that constitute the rest of the world. l A lack of opportunity and clear career path has been cited to be the greatest obstacle toward career development for women, four times as often as family responsibility (10 percent) has been mentioned. l 36 percent of women have stated that they have not faced any impediments to career growth. l 74 percent of professionals in the UAE, both men and women proactively manage their careers and actively ask for rewards and promotions incentives. One of the key outcomes from the survey is that women are more eager than ever to strive and achieve their best and the results clearly portray the support companies are providing to attract, grow and retain high caliber employees. These findings are supported by a recent CTPartners white paper “Women on Boards” which highlights and encourages boards to keep an eye out for up-and-coming director talent: women who have demonstrated a successful track record in their executive roles and who therefore have the expertise to make meaningful contributions. CTPartners as a search firm makes it a priority to get to know these women as they ascend in their careers. — SG
