The number of women in senior positions in Emirati companies has risen to 8.9%

The United Arab Emirates has implemented various measures in its struggle to achieve gender parity in the boardroom of its companies. The results show that this year, compared to 3.5% in 2020, the growth of women in senior positions has increased to 8.9%, according to a study conducted by Aurora50.

The report found that 77 of the 868 positions in companies listed on the Abu Dhabi Stock Exchange are held by women. This is largely due to the Securities and Commodities Authority's move last year to introduce a quota requiring all companies listed on the UAE bourse to appoint at least one woman to their boards. 

The co-founder of Aurora50, the company commissioned to conduct the study, said: "It is great to see such progress being made in UAE boardrooms, but we know that much more can be done to accelerate the pace of change. We hope this report will help women in the region to rise to the top with confidence". 
 

But it is also important to her that this development is not only reflected in their numbers on boards, but also in the direction and growth of corporations, and she stressed that, "it is vital now that boards that embrace greater diversity must also ensure that they do so through inclusive leadership to reap the rewards of increased performance and profitability".

The study interviewed sixteen women on independent boards, with the aim of understanding the steps that aspiring female candidates for important positions within Emirati companies need to take. Above all, it focuses on the keys to proactive board participation and a timeframe of no more than fifteen years to achieve the goal.

The five key steps they need to take, according to the report, are: 

1. Plan: women should plan their careers from the start, building on their technical skills, which, together with experience and independent thinking, will enable them to develop a set of skills that are highly relevant to board directors.

2.    Build: this is the phase of their career where women should aim for deep and thorough learning of their craft, gaining valuable experience for the boardroom in the process.

3. Branding: all of them should also focus on their personal brand, creating awareness of who they are and making their worth for their intended position known. 

4.    Sustain: this is a phase focused on balance, with the aim of continuing to build their career on a solid foundation.

5.    Giving: finally, once they have reached the top, women should help others to reach the positions they have managed to occupy, giving them a hand and collaborating in their personal and professional growth. 
 

In all of this progress of women in the upper echelons of business in Emirates, Maryam Buti Alsuawaidi, Executive Director of the United Arab Emirates (UAE) Capital Markets Regulatory Authority, has had a lot to do with it, and after reaping these results she said: "I am delighted with the news that for two years the market has seen growth in the number of boards of directors held by women. Now 59.1% of listed companies have at least one woman on the board and 8.9% of all board members of listed companies are women".

She continued that, "the regulatory requirement to have at least one woman on the board of every listed company mandated by the SCA a year ago has clearly had the desired positive impact, as it has in other countries that have established similar mandates".

"Gender diversity on boards has a positive impact on a company's future success and earnings by creating diversity of thought, while inclusive leadership encourages more women to join, thrive and succeed in listed companies at all levels," she explained. 

Emirates thus demonstrates that its commitment to the growth of women in corporate leadership is real. A development that has more than doubled since last year and is set to continue to grow.