Factors Affecting Career Development of Women Employees in the Banking Industry in Kenya

Abstract

Despite banking being a female-dominated industry, women are still under-represented in management and senior management. Thus, the present study seeks to examine the relative importance of individual, interpersonal, and organizational variables for women’s advancement in management in the banking industry in Kenya. The study was guided by the following specific objectives: To evaluate the factors that would contribute to women’s career advancement in the banking sector in Kenya; (2) To assess the current organizational practices affecting women's career advancement in the banking sector in Kenya; and (3) To analyze the possible organizational practices that would be supportive of women’s career advancement in the banking sector in Kenya. A case study design was used to undertake the study, focusing on all the commercial banks in Kenya that are licensed by the Central Bank of Kenya to undertake banking business whose number stood at 42 as at 31 December, 2013 (CBK, 2013). There were two respondents from each institution, the head of the human resources function and another senior officer of the opposite sex. The study was undertaken in Nairobi since all the commercial banks have their head offices strategically located in Nairobi and lasted two months, from August to September, 2008. A representative sample of 21 banks participated in the study. The study findings reveal a considerable understanding of the qualities that are part of work environments that are supportive of the career aspirations of women (and men). These include: top management support and commitment to the exercise, the explicit use of gender in decision-making in recruitment, career planning and employee development, the development of policies and procedures consistent with the goal of supporting women, the provision of rewards for providing the required support and achieving agreed upon goals for women's advancement, and becoming a model (in the wider community) of what can be accomplished through commitment, resources and effort. In view of the findings, the following recommendations are made:- Family-friendly policies: Eight items including: a good corporate daycare centre; a referral service to agencies providing domestic or childcare help when needed; part-time work arrangements which still permitted promotion; Time off work: Five items including: flexible vacation arrangements; a shorter working week; flexible working hours to manage personal and work life better; Career development programme: Three items including: support in career counseling, career planning and career pathing; psychological and health counseling; formal mentoring programme to develop skills of junior managers and professionals; and Training and challenging work: Three items including: financial support for management development outside the organization; challenging work assignments; training for career mobility.

Keywords: Career development, Women, Banking industry