Retaining women in workforce key challenge for Malaysia, says World Bank
KUALA LUMPUR : Retaining female employees is a key concern for Malaysia to address in its push to boost women's workforce participation, says a World Bank senior economist.
Shakira Teh Sharifuddin said women's workforce participation in Malaysia is highest between the ages of 15 and 29, indicating that many enter the workforce after finishing school.
However, she said many women leave the workforce in their late 20s or 30s to care for children or elderly family members, and unlike in many countries, few return.
'This is Malaysia's biggest challenge – keeping women in the labour market,' she said at a panel discussion on creating family-friendly workplaces here today.
Fellow panellist Amy Baum, a specialist in women's economic empowerment at UN Women, said workplace culture must evolve to support women.
She also highlighted how an increasing number of companies are offering family-friendly policies like on-site childcare, flexible work hours, and shared parental leave.
TalentCorp chairman Wong Shu Qi said both the public and private sectors must collaborate to build inclusive work environments suited to organisations of different sizes.
She said the economic impact of gender inclusion is clear.
'Increasing women's participation in the labour force could boost Malaysia's GDP by 7% to 12%. This is not just a gender issue, it's an economic one,' she said, adding that inclusive workplaces also drive innovation and improve business performance.
The labour force participation rate for women stood at 56.2% in 2023, according to the statistics department. The LFPR for female graduates in 2023 was higher at 83.2%.
In 2023, women, family and community development minister Nancy Shukri said the government aspired to increase labour participation by women to 59% by 2025.
Earlier, UN Women, LeadWomen, and TalentCorp – supported by Australia's department of foreign affairs and trade – launched the Malaysia Women's Empowerment Principles Corporate Action Lab (WEPsCAL) at a hotel here.
WEPsCAL is a cohort-based programme that helps companies develop gender equality strategies. The first group includes 11 companies from various industries, such as AirAsia Aviation Management Services Sdn Bhd, and QSR Brands (M) Holdings Bhd.
WEPs, a globally recognised framework, guides businesses in adopting gender-inclusive policies across their operations.
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