Women in Saudi Arabia to transform family businesses
05/07/22
More Saudi women entering leadership positions in family businesses will inspire others according to a recent report published by KPMG.
The findings are part of the KPMG "The Power of Women in Family Business” report. It examines different perspectives of female leaders in the Kingdom of Saudi Arabia and discusses their success, opportunities and challenges.
The report was based on fourteen interviews with female leaders in Saudi Arabian family businesses. The goal was to understand more about the effects of changing demographics on women in family businesses and their influence on the success of their businesses and their families.
The Saudi women interviewed agreed that mentorship and networking are essential components of professional success. It was also acknowledged that finding the correct mentor can be critical to getting management and leadership roles within the family business.
As participation rates of women in the workforce increases, the report found it was increasingly difficult to find a female mentor. It was recommended that successful female leaders seek out promising young women to bring about transformation in their organisations and society in general. It will be achieved by becoming role models and mentors for younger women who will in turn contribute to the future talent pool.
Demonstrating the importance of female mentorship, a recent study found that 67% of females wanted to learn about leadership from other women. They feel comfortable by freely communicating with like-minded businesswomen who wish to develop and thrive just like them. They feel that such participation will enable them to exchange business ideas and build more meaningful relationships.
The report concluded that family businesses with diverse board members provide tremendous benefits to the firms allowing them to have more collective experience with added value.
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