Closing the gender gap requires ensuring that women are supported at home and throughout their careers. (Silvia Razgova /The National)
Closing the gender gap requires ensuring that women are supported at home and throughout their careers. (Silvia Razgova /The National)

The gender gap will remain until opinions change



Women in the Middle East continue to lag behind men on pay and career development, just like they do in many other parts of the world, according to a new study. This is not surprising, but societies around the world need a huge cultural shift if they are to address this properly and that can hardly occur overnight.

But recognition of the issue is a good start because it can help bring about policy changes in many countries, including the UAE, where the government has supported women’s entry into the workplace and participation in the development of the country. As a result, society is now more encouraging to ambitious women than, let’s say, three decades ago.

In addition to their work, most women are also wives and mothers and shoulder the responsibility of caring for their children. Those who don’t like the idea of handing on their responsibilities to nannies or maids often work until they have children and then leave – and are unlikely to return to the workplace until their children are settled in school.

Such challenges continue to be seen only as “women’s issues”, despite the huge effects they have on society as a whole, including the increasing dependence on domestic workers and the cultural cost that comes with it. One could even argue that the higher divorce rate is the inevitable consequence of many women failing to balance work and home.

Therefore, to address the problem we need first to look at it as an issue for society as a whole and not as a separate issue that only concerns women.

The government’s efforts to introduce a quota for women in executive positions is only useful if it leads to a shift in decisions affecting women’s work flexibility, promotion and retention.

Women in leadership positions should understand other women’s needs and introduce flexible measures to accommodate working mothers. Otherwise, the quota system will only have a marginal influence on the lives of many women in lower positions.

But while quotas are a good step, it should be supplemented by family-friendly policies, such as more generous maternity leave, workplace-sponsored nurseries and organisational flexibility to support women.

Quota targets should be made public, with progress reported annually, to ensure that public and private organisations alike are following up with the government’s guidelines in regard to the number of women at board and in senior executive level.

But this is not enough. It’s not until men themselves start to look at this as an issue that affects them, as it affects their mothers, wives and sisters, that discrimination in the workplace will lessen.

Even though discrimination in the workplace is less visible nowadays, it exists, as many women still confirm. Women are still expected to be as committed to their work as men and then go home and lead a full family life.

Research at the Centre for Gender in Organisations at Simmons College in Boston explained this as “second generation gender bias,” by which women are still unconsciously judged against standards developed in male-dominated work settings.

Unconsciously, many men – sometimes even women – in leadership positions don’t consider women’s family needs when evaluating their work commitment and performance.

This is unfair on women, especially for those who try hard to balance their work and home responsibilities while being challenged by inflexible working hours.

If such a situation persists, family responsibilities should be re-evaluated. The cultural shift should go beyond the acceptance of women’s changing role in society from stay-at-home mothers to changing men’s attitudes towards domestic work. If women are not offered full support at the workplace, they can at least find support at home. Childcare should be accepted into the set of things that men do along with women.

It’s important to recognise men’s role in the process of change. Men need to take equal responsibility for the promotion of women’s deserved rights, at home and in the workplace and at the top and the bottom of the income scale, for the sake of families and for the sake of the labour market.

Equality in the workplace will never be achievable without equality at home. Such a goal can hardly be reached by official legislation. The question is, can we make that cultural shift?

aalmazrouei@thenational.ae

On Twitter: @AyeshaAlmazroui

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

If you go:
The flights: Etihad, Emirates, British Airways and Virgin all fly from the UAE to London from Dh2,700 return, including taxes
The tours: The Tour for Muggles usually runs several times a day, lasts about two-and-a-half hours and costs £14 (Dh67)
Harry Potter and the Cursed Child is on now at the Palace Theatre. Tickets need booking significantly in advance
Entrance to the Harry Potter exhibition at the House of MinaLima is free
The hotel: The grand, 1909-built Strand Palace Hotel is in a handy location near the Theatre District and several of the key Harry Potter filming and inspiration sites. The family rooms are spacious, with sofa beds that can accommodate children, and wooden shutters that keep out the light at night. Rooms cost from £170 (Dh808).