IDENTIFYING THE PACE OF INDONESIAN WOMEN IN REACHING TOP MANAGEMENT POSITION IN THE BANKING AND INSURANCE SECTORS

Abstract

ABSTRACT Women’s participation in the economy has significantly increased over the years. In most countries around the world, the upward trend of women’s employment continues up to this point. Unfortunately, the increased share of women in the workforce is not followed with an increase in job status, job opportunities, and job qualities. Women are underrepresented in formal sectors as the percentage of share in top management position is still far below the men’s percentage. The above trends also happen in Indonesia. Because of those facts, this research aimed to describe the employment position of Indonesian women in the banking and insurance sectors, and to identify both the common factors and the most frequently stated factors describing the pace of Indonesian women in reaching top management position, in the banking and insurance sectors. This research utilized a qualitative method of analysis. Focus Group Discussion (FGD) had been used to collect the data. The participants of the four FGD sessions were women employed in the banking and insurance sectors with middle and lower managerial positions. Both internal and external factors were explored in this research. Internal factors included the human capital theory and individual determinants. External factors comprised the Indonesian government efforts, work force state of affairs, and social and cultural attributes. Combined efforts of Indonesian women, Government of Indonesia (GOI), and companies in Indonesia are important in accelerating Indonesian women’s pace in reaching top management position.