KPMG yesterday released a new edition of its flagship publication: “The Global Female Leaders Outlook – Qatar Edition”, which sheds a special light on the perspectives of female leaders from Qatar and around the world on the COVID-19 pandemic, its global impact on business and its likely implications on the position of women in the workplace.
Contrary to the belief held by many analysts of a disproportionate effect of the pandemic on women, the KPMG survey found that female leaders hold a less pessimistic view and see in this crisis a potential for creating new opportunities for women as a result of improved digital communication, advances in technology and changes in stakeholder expectations.
Barbara Henzen, Partner and Head of Tax and Corporate Services at KPMG in Qatar, said: “This new edition of Global Female Leaders Outlook presents a unique perspective on the topical issue of COVID-19, approaching it from both a business angle and a gender viewpoint.
For the first time we saw the participation of prominent female leaders from Qatar, who have shared their views on the findings of our global survey and their own experiences in responding to the crisis, therefore adding an insightful local perspective on the topic”.
Speaking about the findings of the report, Henzen said: “The survey results demonstrate the resilience of female leaders in the face of the crisis.
They have taken on the necessary investments to digitalise business operations, and are adopting a longer-term view on the relationship with their customers to build a strong basis for success, while continuing to seek alignment with the expectations of the wider stakeholder community.
“While we are still far from gender diverse boards and management, the survey reveals that some deep technological and cultural changes are happening in the workplace as a result of the pandemic’s disruption, which can potentially drive towards greater gender equality in the future,” she added.
The survey results show that the majority of female leaders are adopting new ways of working in response to the disruption caused by the pandemic. About 80 percent of the respondents confirmed that the pace of digital transformation has accelerated in their organisations as a direct response to the disruption.
And while the majority of respondents expect the impact of the pandemic on their businesses to last over the next few years, about 53 percent believe that building long-term relationships with clients is the most important measure to mitigate the negative effects and position their businesses for success.
Also, as many as 58 percent of female leaders said that making a positive impact on the world is their top motivator. The report also showed that the importance of environmental, social and governance (ESG) components continues to grow on the business agenda and is primarily driven by new stakeh o l d e r v a l u e s a n d expectations.
Female leaders seem to be steering their organisations towards aligning with stakeholder expectations. In fact, 58 percent of the surveyed leaders confirmed that they want to lock in the sustainability and climate change gains that were achieved as a result of the pandemic, and 48 percent said that their response to the pandemic has caused their focus to shift toward the social component in ESG.
The COVID-19 pandemic has accelerated the adoption of new digital communication and collaboration tools that enable flexible working.
These technological changes are conducive to a better work life balance for female leaders and may lead in the long run to deeper cultural changes that support gender equality.
The KPMG survey corroborates these emerging trends, with 65 percent of respondents confirming that remote working has caused their company to make significant changes to policy to enable the emerging work culture and about half of the respondents stating that their potential talent pool has increased due to the flexibility that remote working can offer.
