Data for Female Participation on Boards and in C-suite Roles, and Steps to Address Institutional Factors Causing Gender Inequality

21 Mr Saktiandi Supaat asked the Minister for Social and Family Development with reference to the speech at the CBD Leadership-in-Action event (a) what number and percentage of the 25.3% of female board directors mentioned are (i) executive directors and (ii) non-executive directors respectively; (b) what proportion of senior management or “C-suite” roles of the top 100 SGX-listed companies are performed by female executives as of June 2024; and (c) what further steps can be taken to address possible institutional factors that cause gender inequality in specific roles, levels and sectors.

Mr Masagos Zulkifli B M M: The Government works with the Council for Board Diversity to encourage board diversity, particularly women’s participation on boards. Currently, women’s participation on the boards of the top 100 SGX-listed companies is 25.3%, a more than three-fold increase from 7.5% in end 2013. Of the 25.3% of women on the boards of the top 100 SGX-listed companies, 19 women or 9.1% of them are Executive Directors, and 189 women or 90.9% of them are Non-Executive Directors.

The Ministry of Social and Family Development (MSF) will continue to work with the Council for Board Diversity and stakeholders to better support women to fulfil their leadership potential. To enable us to better understand the current landscape of female leadership in the private sector, MSF is conducting a study to determine the proportion of women in C-suite positions, such as Chief Executive Officers and Chief Financial Officers.

The Government is committed to ensuring both men and women are able to achieve their career aspirations to the fullest. This includes addressing challenges that could limit their ability to participate fully and progress in the workplace.

To better support women in entering and thriving in the workforce, we are taking a stronger stance against workplace discrimination through the upcoming Workplace Fairness Legislation. We also continue to work closely with the tripartite partners to encourage family-friendly workplace practices that help employees better manage their work and caregiving responsibilities. The Tripartite Guidelines on Flexible Work Arrangement Requests, which will take effect on 1 December 2024, will help employers and employees engage in open discussions about flexible work arrangements so that mutually beneficial arrangements can be found.

Beyond legislation and policies, stakeholders, such as educational institutions, employers and the community, also play important roles to support and empower women to pursue and fulfil their career aspirations and leadership potential without being hampered by stereotypes. For example, in the area of science, technology, engineering and mathematics, or STEM, we are heartened to see an increase in female participation in STEM education and workforce. Almost four in 10 students enrolled in STEM courses in our Institutes of Higher Learning in the past five years are female. According to a report published by the Boston Consulting Group and the Infocomm Media Development Authority in 2020, women make up 41% of the tech workforce, well above the global average of 28%.

It takes a whole-of-society effort to foster fair, inclusive and progressive workplaces. The Government will continue to work with industry and the community to shift mindsets and enable women to fulfil their aspirations and leadership potential.