Companies need more women leaders for better working boards

MARCH 8 was International Women's Day - an annual worldwide movement that celebrates the socio-economic roles and contributions of women. While it is hard to imagine gender inequality in a developed society like Singapore - where females enjoy equal access to education, and comprise close to half of the resident work force - achieving gender parity in corporate leadership roles remains a challenge.

A recent study by the NUS Business School's Centre for Governance, Institutions and Organisations was particularly illuminating: female directors of Singapore Exchange-listed companies are on average paid markedly less than their male counterparts, indicating a gender pay gap of 43.2 per cent.

While the disparity could partly be explained by the types of director roles that women typically held - where they were less likely to serve as committee chairs or lead independent directors, which come with more responsibilities and pay - clearly, advancing gender parity on boards is not just about the number of seats but the quality of those seats and the associated remuneration.