UAE Female Leaders Put More Trust In Their Companies Than The Global Economy
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The first KPMG UAE Female Leaders Outlook stated that the UAE’s female leaders possess strong entrepreneurial vision, are realistic about growth expectations, and believe they are equipped with the necessary skills to drive digital transformation in their organizations, has revealed.
The study, which drew responses from almost 700 global female leaders around the world, including the UAE, found that 76% of UAE female leaders were confident about the growth expectations for their company, while just 35% were confident in the growth prospects of the global economy.
Interestingly, 2018 KPMG Global CEO Outlook reported that 90% of the predominantly male chief executives interviewed were confident of their company’s growth prospects, while 67% were confident in the growth prospects of the global economy.
Furthermore, 75% of UAE female leaders expected an overall growth in headcount over the next three years, while only a quarter (25%) said they expected a shrinking or steady employee base. This result supports the opinion shared by the survey’s global female leaders: that artificial intelligence (AI) implementation will create more jobs than it eliminates.
Clare McColl, Partner and Head of Indirect Tax at KPMG Lower Gulf, stated that KPMG’s first ever UAE Female Leaders Outlook shows that female leaders generally have a very realistic outlook to achieve sustained growth. “Female leaders refer to the data and information available to assist in making tough decisions at the senior level– relating to technological disruption, managing resources or maximizing operational efficiencies,” McColl added.
In terms of the benefits AI will bring to organizations over the next three years, UAE female leaders came across as pragmatic: 18% believe that new technology will reduce operational costs while 13% think it will help improve data analysis capabilities. Only 14% indicated their organization has no plans to implement AI over this period.
Almost all female leaders in the UAE believe they are in their jobs on merit, through networking, strong communication skills and/or a thorough knowledge of new technologies. Only 3% ranked female leadership quotas as a crucial factor for their personal success, and when asked if women’s enablement programs are a good method of bringing more women into the business world, 79% backed such initiatives compared to 83% globally.
“Looking ahead, I feel that female leaders in the UAE are receptive to technological challenges and have a clear understanding of their strategic direction. They are confident about growth and based on their positivity and flexibility, I believe that they will achieve their goals,” McColl concluded.