Women, accounting for half of the labor force in the Philippines, are making waves in the business world, shattering glass ceilings. Next Generation of Women Corporate Directors (NOWCD) Chairman Aurora “Boots” Garcia recently said that the number of women directors in boards increased from 18% in 2020 to 21% in 2023, which shows progress. Hopefully, the numbers would still improve.

The NOWCD forum with the theme “Breaking Barriers: Women Leading in Business and Beyond” was held on June 23 at the BPI Wealth Lounge in Ayala Triangle Gardens. The keynote speaker was Mariana Zobel de Ayala, managing director of Ayala Corp., with powerhouse panelists Robina Gokongwei, chair of Robinsons Retail Holdings; Colonel Francel Padilla, spokesperson of the Armed Forces of the Philippines (AFP); and Dr. Jean Franco, professor at the University of the Philippines’ Department of Political Science. The forum was ably moderated by Julia Abad, executive director of the Far Eastern University Public Policy Center (FEU PPC).

At the forum, Patricia Basilio, FEU PPC data analyst, presented a research paper on gender attitudes. She said that progress has been made in advancing gender equality worldwide, but alarmingly, younger males are becoming more anti-feminist than their older counterparts and female peers.

In the Philippines, a college survey showed that many male college students view gender equality as a “burden” to business. The study also showed that the full potential of women in the workforce remains unrealized due to the presence of gender bias that often perpetuates stereotypes regarding workplace roles (for example, not all men want to be breadwinners, or not all women prefer to stay at home). Also, in both private businesses and the government, there is an underrepresentation of women. The concern is that if unchallenged, these students could carry these biases when they take leadership roles in the future. It is therefore important to engage young people at every opportunity, be it through schools, social media, families, and churches, among others, to help them shift away from their sexist attitudes before they harden.

Keynote speaker Ms. Mariana shared about her experiences in the Ayala Group. She highlighted standout Ayala women leaders like MeAnn Dy, the first woman president of Ayala Land, Inc.; Martha Sazon of GCash; executive vice-president Ginbee Go of BPI Consumer Banking; and Theresa Marcial, head of BPI Wealth.

AFP Spokesperson Francel spoke about her own difficult experiences in the male-dominated military sector. “You need to bring your own chair to get a seat at the table,” she said. Still, there is hope as technology is opening doors. Artificial intelligence is leveling the field, with women topping the military exams. How can men offer help? Her immediate response: “Just letting go. Give [them] a free hand.”

A number of women leaders were also present at the event: former Securities and Exchange Commission Chairman Tess Herbosa, Maritess Pineda, KPMG’s Sharon Daoyon, Aboitiz InfraCapital President Cosette Canilao, Vanee Gosiengfiao of Sanofi, Philippine Bank of Communications President Patricia May Sy (her home made breads are so good!), Karen de Venecia, PLDT director Marife Zamora, and Karen Roa, president of Filipina CEO Circle, among others.

At my table was Karen Roa who recently completed  her PhD in Leadership Studies from Ateneo despite having a full-time job as president of First Metro Asset Management. Even while at the top, one has to learn continuously. When I asked about her thesis, she responded: “The study explores the moral identity traits of Filipino finance executives and examines their influence on ethical leadership behavior. The findings revealed a distinct moral identity profile among Filipino finance leaders highlighting traits such as integrity fairness, responsibility, and respectfulness. However, regression analysis showed no significant relationship between moral identity traits and perceived ethical leadership behavior. This suggests that there is a moral identity within the Philippine context, but it doesn’t translate into observable ethical leadership in organizational settings.” A disconnect seems to exist — a sign that values must be clearly communicated, and reinforced by actions, systems and even culture.

Thank you to the amazing NOWCD Events team headed by Gianna Montinola, supported by Tere and her BPI Wealth Team who ensured quality service from parking, to greetings, to a wonderful lunch setup, and even tokens. Congratulations! Women power indeed!

The NOWCD event was inspiring, with excellent learnings not only from the speakers but the attendees as well. The forum is certainly a push forward towards NOWCD’s goal to develop women to become drivers of visionary and effective boards.

The views expressed herein are the author’s own and do not necessarily reflect the opinion of her office as well as FINEX.

Flor G. Tarriela is a banker by profession and an environmentalist/ gardener.