the project already indicate that females hold 38.6% of managerial positions across the five countries. The average percentage of female directors for the countries is 28.1%. According to their report an average of 55.1% of female participants from all five countries considered their organisations an equal opportunity employer.

Changing trends and needs of women in business Michele Human, a legal specialist at Liberty Life indicated that the special needs of women are often ignored despite the fact that globally they control about US$20 trillion in consumer spending. That figure could reach US$28 trillion in the next five years. According to her young, dynamic South African women can move quicker through the corporate ranks and, with current employment equity forces in South Africa, it becomes easier for more women to be getting into the corner office and board rooms of big organisations. The changing trends in women empowerment have also resulted in their financial needs changing significantly. Women need different financial plans from those of men because they live longer, they are more likely to suffer from an illness or dread disease, and they are still likely to be paid less. Human stated that this means that women need to devote more time to their financial planning. They need to save more, invest wisely, and pay special attention to life assurance cover against life’s unexpected events. When considering their financial needs, women should bear in mind that approximately 20 percent of women never get married; 50 percent of all marriages end in divorce; and 75 percent of women will spend the last one-

50 Management Today | August 2011

third of their lives single, either through divorce or widowhood. Human says if a woman is working and contributing to the family financially she needs to protect her potential future income in the event of her dying too soon or becoming disabled and being unable to work. However, the dark cloud of discrimination still hangs over women in the workplace. Reality shows that women still earn less than their male counterparts. Not only do they earn less but they also save less, spend more of their money on the household and still depend on their partners or husbands to provide for their retirement, if any. Business women need to become more accountable for their own lives in the workplace and home environment.

Conclusion Women have always been good networkers and mentors to other people when facing critical decisions in life. They tend to be natural managers and leaders from an early age by learning to perform certain chores in the home environment and community. These qualities can be applied to their advantage in the workplace. However, any fears and insecurities about being treated differently in the workplace because of their gender, should be kept out of the workplace. They should focus on their expertise and not on their gender and take ownership of their responsibilities. Being a natural manager, a woman should just be herself and not try and act differently in order to be accepted. According to Santie Botha, Businesswoman of the Year, 2010, a women should not just be doing a job, she should have a career. If a woman is serious about her career other people will be serious about her career and support her.

References

Businesswomen’s Association of South Africa. BWA South African Women in Leadership Census 2011. http://www.bwasa.co.za/ Census/2011CensusResults/ tabid/14840/Default.aspx

Canadian Cooperative Association. 2011. http://www.coopscanada.coop/ en/orphan/CCA-Gender-Statement-of- Practice.

Human, Michele, legal specialist Liberty Life. Talk on August 16, 2010 at 10:12.

Memela, S. 2008: ‘Oprah’s African women don’t love themselves. http:// www.thoughtleader.co.za.

Olivier, B, 2007: What makes a leader? http://www.thoughtleader.co.za

South Africa: In-depth PESTLE Insights. Published 04/2011.

University of South Africa. Analysis report exploring the implementation of gender equity legislation at Unisa in 2010. [Unpublished].

United Nations Population Information Network (POPIN). http://www.un.org/ popin/

Women leadership in Africa Pilot study, compiled by Da Vinci in conjunction with Frontier Advisory. 2011. Management Today. Vol.14 (3 & 4).