In most organizations, the number of women reaching management positions is increasing. Also, there are organizations that are led by women CEOs and doing well in Sri Lanka. However, to be selected for management level positions, it is necessary to have successful factors within the organization, which help females to become managers. These factors can be categorized into monetary or non-monetary factors.
The author carried out this report, to identify most demanding and successful factors that are available in the banking industry for women managers. Findings were drawn from questionnaires of women managers of the selected bank, which holds the highest number of women managers in its management positions. Further, these findings are captured through quantitative research method according to the developed conceptual framework. The author identified organizational culture, gender equality, skills and knowledge and company policies and procedures as the key findings of the successful management of women.
1.1.1 Global Women Labour Force
Labour force includes all persons categorised as, employed and unemployed and also armed forces (Bowen & Finegan, 2015). The feminization of the paid labour force has been indicated as one of the social changes in the twentieth century. A liberal commitment to equality between male and female, broadly have been accepted and enshrined in law. The Global Gender Gap Report, (2015) highlighted that the biggest progress towards the gender gap can be seen in the political world in 2015 (Appendix 1). On the other hand, women entrepreneurship has become an important role in the global economy (Appendix 2) and by means of women empowerment, poverty reduction has played an importantly increasing factor in economic development.
However, empirical evidence, suggests that women will choose work if wages are good regardless non-work benefits. During last 20 years, the global women labour force rate has remained constant. Whereas, working women in industrial countries increased by 10% and in developing countries decreased by 7% (Psacharopoulos & Tzannatos, 1989).