WIM and IFC geared to take Lankan women to the world

• Economic contribution of Sri Lankan women is 33.4%
• Female university entrance 66.8%
• IFC expects almost 50% of world’s women to head businesses by 2018

From left: IFC Senior Operations Officer for Sri Lanka and Maldives Graeme Harris, Women in Management Founder/Chairperson Sulochana Segera,Lanka Sathosa Chairman Dr. Rohantha Athukorala and Jetwing Travels Managing Director Shiromal Cooray 

- Pix by Nirmala Dhananjaya

By Hiruni Dabarera

Women in Management (WIM), in partnership with the International Finance Corporation (IFC), a member of the World Bank Group, officially launched the sixth ‘Professional and Career Women Awards 2016’ last week in a bid to take Sri Lankan women to represent senior management in local and international organisations.

The award ceremony will be held on 24 June under the theme ‘Taking Sri Lankan Women to the World’.

“Even though half of the world population is women, the representation of women in decision-making is staggeringly low. If more women are incorporated into decision making, countries would face fewer issues in terms of economic crises, religious issues or wars,” declared WIM Chairperson Sulochana Segera.

According to recent research, Sri Lankan women’s contribution to the economy is 33.4% while only 4.4% are employed in decision-making positions. However, the population ratio of productive women to productive men is 106 to 100. Further, university entrance percentage in women is 66.8% where law, medicine, management and art are female dominated sectors. Hence, it is evident how the return of investment is quite low in comparison to the input on women’s higher education.

“The Financial Times’ ranking denotes that the highest concentration of women in senior executive positions is in North America. Yet, women in China and India make 20% of the list. WIM’s vision is to take Sri Lankan women to represent Asian women leadership in the competitive economy,” Segera asserted. 

This is the second year that IFC has partnered with WIM in order to promote professional women in businesses across Sri Lanka. Graeme Harris, Senior Operations Officer of IFC for Sri Lanka and Maldives, said that by strengthening the role of women in the private sector and encouraging gender smart solutions, IFC hopes to transform markets. 

“This is precisely where our vision aligns with that of WIM. Through this partnership we are working to help build the skills of women heading micro and small-scale enterprises particularly, in the North and East of Sri Lanka. Women owned Small and Medium Enterprises (SMEs) account for eight to 10 million worldwide (over 30%). Women represent the fastest growing market segment. At present women start new businesses at a higher rate than men. It is expected that by 2018 women will account for almost 50% of all new business jobs,” he elaborated.

Gender smart solutions include increased access for financial services for women. IFC stressed on the importance of training mainly credit and business management training that is specifically targeted for women owned SMEs and help to improve their skills, productivity and help them grow. They are also planning to hold workshops for women in Mannar and Batticaloa Districts next week.

Lanka Sathosa Chairman Rohantha Athukorala told the Daily FT that one of the main problems that he faces as a member of the Judge Panel for almost four years is the lack of enthusiasm in Sri Lankan women to own up to their achievements or successes in terms of their profession or careers.

 

“When approached by WIM, women often tend to reply not to associate their names with such award ceremonies. I believe that this is a common feature of women in the Asian region where the majority of societies are patriarchal societies. This is a significant drawback that WIM hopes to address through educational programs and career guidance workshops in future,” he said. 

Athukorala pointed out how the judges were therefore faced with a tough process of selecting suitable winners. “The selection process usually takes about three to four months. We undergo a lot of research and contact organisations to recommend suitable candidates. After being picked by WIM, the candidates will be subjected to four areas of scrutiny,” he explained.

The first criterion is whether the female candidate at hand has been instrumental behind the numbers in her workplace. Next WIM carries out research to confirm whether the team around her respects her as an individual. They will also evaluate what the community has to say about her as an individual. Finally, she will be judged on whether she has the competency to take Sri Lanka to the global platform.  “Traditionally, women in Sri Lanka are accustomed to take a back-seat in the face of success and pass it on to their fathers, husbands or sons. Growing up we were told ‘women should be seen not heard’. WIM is an organisation that works with great zeal and determination to break this stereotypical norm and make women aware of their potentials. Being a former winner has given me the confidence to even reach greater heights within my profession and to become a role model for younger generations,” shared Shiromal Cooray with the Daily FT. 

Over the years the ‘Professional and Career Women Awards’ has recognised a number of female high-profile achievers like Hemas Transportation sector CEO Kasturi Wilson, Prime Lands Managing Director Sandamini Perera and Batticaloa Government Agent P.S.M. Charles. Last year over 55 women received awards across 22 categories. 

Nominations are currently open and will close on 30 May. This year awards too will celebrate remarkable women who inspire others through achievements in their careers, businesses and everyday lives.