COMMITTEES
FACTOR f+m
| Premio Factor f+m Primera Edición |
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Factor f+m Awards First Edition |
| AmCham Costa Rica | ||
Debido al alto nivel de interés en la primera edición de los Premios
Factor f+m: Mujeres y Hombres Liderando Juntos hemos decidido extender
el periodo de nominaciones al 12 de abril 2013, esto, con el fin de dar
oportunidad a compañías cuyos procesos internos de selección de
candidatos aún se están llevando a cabo. Los instamos a seguir enviando
sus nominaciones a mhuebner@amcham.co.cr
Tomo esta oportunidad para invitarlos a asistir el día 21 de marzo a un almuerzo ejecutivo de nuestra serie Women in Leadership con la participación de la señora Pamela Jeffery, fundadora del “Women’s Executive Network” de Canadá y “Canada’s Most Powerful Women: Top 100 Awards”, actualmente la premiación más prestigiosa para mujeres líderes en Canadá. Los temas a discutir incluyen el liderazgo de las mujeres en juntas directivas, las tendencias mundiales actuales, el progreso en la posición de la mujer, pasos claves para el avance de la mujer y cómo retener a mujeres en organizaciones. El evento será en el Hotel Intercontinental. Les estaremos haciendo llegar más información.
Due to the exceptional interest in the first edition of our “Factor f+m Awards: Women and Men Leading Together”, we have decided to extend the nomination period to April 12th, 2013 to provide companies that are still selecting candidates with enough time to complete their internal processes. We encourage you to continue submitting your nominations to mhuebner@amcham.co.cr
I would like to take this opportunity to invite you to our Women in Leadership Executive Luncheon, an event featuring distinguished speaker Pamela Jeffery, founder of Canada’s “Women’s Executive Network” and “Canada’s Most Powerful Women: Top 100 Awards”, Canada’s most prestigious awards for female leaders. The event will take place on March 21st at the Intercontinental hotel at noon. We will be sending out the invitation shortly.
Pamela will discuss topics such as women’s leadership at the board level, global trends, key steps for the advancement of women and how to retain women in organizations.
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FORMULARIOS EN ESPAÑOL |
FORMS IN ENGLISH |
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| • Corporate Leader of Distinction Award | • Corporate Leader of Distinction Award | |
| • Future Leader Award |
• Future Leader Award | |
| • Inspirational Leader Award |
• Inspirational Leader Award |
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THE FEMALE FACTOR - WHY AMCHAM & ITS MEMBERS CARE
There is no doubt that the role of women as business leaders is increasing in the global economy. Furthermore, research demonstrates that there is a strong correlation between gender diversity in leadership and firm performance. Companies with a higher representation of women in top management positions consistently report better financial performance than companies with lower female representation in their leadership. Diversity in leadership has also been proven essential for fostering innovation and positively influencing decision-making processes.
However, in spite of the increasing female labor force participation globally, women continue to have low access to leadership positions. In the private sector, women represent 15.7% of board members in the United States, 10.3% in Canada, 6.8% in Mexico and 1.9% in Chile.
However, in spite of the increasing female labor force participation globally, women continue to have low access to leadership positions. In the private sector, women represent 15.7% of board members in the United States, 10.3% in Canada, 6.8% in Mexico and 1.9% in Chile.
Recognizing and promoting qualified women enable firms to respond successfully to the new global trends of women both as powerful consumers and as a highly educated half of the population.
WOMEN AS CONSUMERS
It is estimated that women control approximately US$20 trillion in consumer spending and influence 80% of purchasing decisions globally. By 2014, women are projected to control US$28 trillion, approximately 44% of the current global GDP. This has important implications for companies that produce the goods and services women are known to spend on: food, education, health care, childcare, clothing, consumer durables and financial services. This global dynamic is also mirrored in Latin America, where more women are becoming more educated and therefore becoming more savvy consumers.
WOMEN AS TALENT
Global efforts such as the Millennium Development Goals have ensured that more women have access to education worldwide. As a result, in many regions, including Latin America, women are more likely to attend college than men. Consequently, the participation of Latin American women in the labor force has risen significantly in the last two decades - up from 34.5% in 1980 to over 54% by 2010. These same trends are observed in Costa Rica. By 2008, Costa Rican women were over 50% more likely than men to obtain Bachelors and Licenciatura degrees, and were almost equally as likely to obtain Master's degrees. As a consequence, there are more highly educated women entering the Costa Rican workforce. For example, women account for more than 50% of the workforce in industries such as Hotels & Restaurants, Financial Services, Education, Public Administration, as well as Social and Health Services.
Global efforts such as the Millennium Development Goals have ensured that more women have access to education worldwide. As a result, in many regions, including Latin America, women are more likely to attend college than men. Consequently, the participation of Latin American women in the labor force has risen significantly in the last two decades - up from 34.5% in 1980 to over 54% by 2010. These same trends are observed in Costa Rica. By 2008, Costa Rican women were over 50% more likely than men to obtain Bachelors and Licenciatura degrees, and were almost equally as likely to obtain Master's degrees. As a consequence, there are more highly educated women entering the Costa Rican workforce. For example, women account for more than 50% of the workforce in industries such as Hotels & Restaurants, Financial Services, Education, Public Administration, as well as Social and Health Services.
WOMEN AND TOP LEADERSHIP IN COSTA RICA
Despite the fact that women in Costa Rica make up more than 50% in several industries, the little data that is available shows that women have more access to leadership opportunities in the public sector than in the private sector. Costa Rica ranks 28th of 134 countries in the World Economic Forum's Global Gender Gap Index 2010, and does relatively well in the areas of Political Empowerment, Educational Attainment and Health & Survival. However, Costa Rica ranked 98th of 134 for Economic Participation and Opportunity for women, demonstrating the need for greater opportunities for women in corporate leadership. In 2009:
• 46% of Costa Rican public sector leadership positions were held by women
• 23% of Costa Rican private sector leadership positions were held by women
Why does Costa Rica rank so poorly in economic empowerment of women, and why are so few women in positions of leadership? According to an AmCham Membership survey carried out in February 2012, the three biggest challenges facing companies in recruiting and retaining women are:
1. Work-life balance. The female employee puts priority on her family
2. Qualifications. Difficulties in finding qualified women
3. Work-life balance. The husbands of the female employees want their wives to put a priority on their family
Despite the fact that women in Costa Rica make up more than 50% in several industries, the little data that is available shows that women have more access to leadership opportunities in the public sector than in the private sector. Costa Rica ranks 28th of 134 countries in the World Economic Forum's Global Gender Gap Index 2010, and does relatively well in the areas of Political Empowerment, Educational Attainment and Health & Survival. However, Costa Rica ranked 98th of 134 for Economic Participation and Opportunity for women, demonstrating the need for greater opportunities for women in corporate leadership. In 2009:
• 46% of Costa Rican public sector leadership positions were held by women
• 23% of Costa Rican private sector leadership positions were held by women
Why does Costa Rica rank so poorly in economic empowerment of women, and why are so few women in positions of leadership? According to an AmCham Membership survey carried out in February 2012, the three biggest challenges facing companies in recruiting and retaining women are:
1. Work-life balance. The female employee puts priority on her family
2. Qualifications. Difficulties in finding qualified women
3. Work-life balance. The husbands of the female employees want their wives to put a priority on their family
In addition, in-depth research carried out by Professor Susan Clancy of INCAE Business School and shared with AmCham in 2011 concluded that there are three main reasons why women are so poorly represented in corporate leadership:
1. Gender Stereotypes and Biases - male and female employees do not consider women to be strong or competent for certain leadership roles
2. Work-Life Conflict – female and male employees put a priority on their families
3. Women's Choices that Limit Career Opportunities – many women choose to have families at about the same time as their careers start to take off
AMCHAM’s Factor f+m TASK FORCE
Representing American and Costa Rican companies, AmCham recognizes that women are one of the most significant potentials for transforming our companies, country, and the economy as a whole. To succeed, organizations need to have men and women involved in leading public policy and private business. The real power comes from working together and using our collective gender skills and strengths to solve complex issues and accelerate growth and innovation. Without this, we believe that AmCham’s members will miss out on a significant opportunity to maintain their competitiveness and continue to contribute to the country’s development.
The goal of the Factorf+m initiative is to enhance the competitiveness of businesses through gender parity, and specifically, through women’s participation in leadership roles in AmCham and its member organizations. To support its members, AmCham has introduced the triple “A” program: Awareness, Action and Award:
• Factorf+m Awareness program includes our “Women in Leadership” speaker series - breakfast and luncheon events highlighting prominent local and international women in different industries addressing key issues of interest to AmCham’s members, including the changing role of women as talent and as consumers.
• Factorf+m Action:
o Best practice forums and mentoring and coaching program
o National women’s leadership event, 2014
• Factorf+m Award program is an AmCham event commencing in March 2013 which will recognize women who are role models in leadership positions in Costa Rica and men who have proactively sponsored and supported access to leadership for women.
If you are interested in joining the Factorf+m initiative, please contact Juletta Broomfield, Factorf+m Task Force Lead at amcham@amcham.co.cr or Cell: 8851-4012 or Cathy Reuben, AmCham Executive Director at creuben@amcham.co.cr or 2220-2200.
The information in this document includes data prepared by Sanola A. Daley and Arturo Condo of the INCAE Business School to serve as input for the development of the Factor f+m initiative of the Costa Rican-American Chamber of Commerce.
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