Manpower Hong Kong released a paper today titled, "The Underworked Solution: Women and the Talent Crunch", revealing that majority (35%) of HK survey respondents felt women would hold 50 percent or more of senior executive or high level management roles at the top corporations in Hong Kong in less than 10 years. In the Greater China region, majority of respondents in China (53%) felt that will never happen and Taiwan (39%) believed that will happen in 10 to 20 years. Globally, the survey found that most survey respondents (48%) felt parity at top corporations will never happen.

With an initiative to understand attitudes and opinions of women in management roles and their perceptions on a woman's ability to move up the corporate ladder, Manpower Inc. (NYSE: MAN) surveyed over 29,000 managers/directors in 33 countries and territories in July 2008, including 402 respondents in Hong Kong. The paper calls for the increased engagement of women in the global workforce as a key component of long-term economic growth and sustainable development.

"To ensure the best possible chance of success in the workforce management amid market downturn times, employers and governments must look ahead to the challenges of tomorrow, and explore how to expand their workforces," says Lancy Chui, Manpower General Manager - Manpower Hong Kong and Macau Operations. "The most effective companies have organized to maximize the role of women in their top leadership. The role of women in the workforce has been on many corporate agendas for some time, and it has yet to be resolved," expresses Chui.

The results of the Women and the Talent Crunch reported that 81% of all Hong Kong survey respondents indicated that they working mothers who had attained top management positions in which both male (80%) and female (81%) respondents made the same comments. Interestingly, in there appears to be more barriers for working mothers in Japan, where 72% of respondents indicated they did not know working mothers who had attained top management positions.

Although Hong Kong women's value proposition in corporate ladder is proven to be significant, results of the paper showed that Hong Kong respondent's attitudes about family limiting a woman's career potential were split almost equally ¡V 44% of all survey respondents said they felt a woman's career potential is limited by having children and 46% said they did not feel that having children limited a woman's career potential while 10% of respondents were uncertain. In the Greater China region, 75% of all respondents in Taiwan felt choosing to have children limit women's career track.

Manpower research has long forecasted a growing talent shortage, with the need for workers likely to grow. Economists say the number of service-sector jobs will grow by at least 500 million between 2004 and 2015, while in many countries the number of young people entering the workforce is shrinking due to aging populations. Many parts of the world are facing an economic time bomb, as there will simply not be enough qualified workers to fill the jobs driving much-needed economic growth in the post-crisis world.

"The current financial turmoil and rising unemployment don't stop the threat. When the global economy starts to rebound, many employers will be looking to replace the staff they let go during more troubled times, and to do so quickly to maintain competitive advantage", views Lancy Chui, Manpower General Manager - Manpower Hong Kong and Macau Operations. "Long-term trends, such as the growing dominance of the service sector, a shrinking working-age population and the resulting talent shortages in key areas of the economy are likely to worsen as the economy inevitably improves" comments Chui.

At the same time, it is a fact that women are underutilized in the global workforce. According to the OECD, only about 60 percent of women are employed on average in OECD countries. According to the International Labor Organization, in 2007 the employment-to-population ratio at a global level was just 49.1% for women, compared to 74.3% for men. "The Underworked Solution" demonstrates that greater engagement of women in the labor force and the economy is one solution.

"The Underworked Solution" says that in order to encourage greater participation of women in the global labor force, governments, employers and individuals must be willing to make fundamental changes.

Chui continues, "These are the problem that both employers and employees need to be cautious. Inflexible work structures are the biggest global barriers to women in the workforce, and so employers must consider shifting their talent management strategies trending towards a truly flexible work practice to ensure women are able to balance their work and home lives, to feel challenged, motivated and reassured of job opportunities. Accordingly, women themselves take initiatives in pursuing further studies and participating in training programs so as to enhance their "employability" and map a clear path towards career advancement".

Today's survey announcement coincides with the publication of the Manpower White Paper, The Underworked Solution: Women and the Talent Crunch. The White Paper calls for the engagement of women in the global workforce as a critical factor for long term economic growth and sustainable development.

About Manpower Hong Kong
Manpower Hong Kong was established in 1964 as a franchise operation. In April 1997, Manpower Inc. achieved wholly owned subsidiary status of the Hong Kong operation and the franchise was purchased outright. Backed by a network of 4,400 offices in 82 countries and territories worldwide, Manpower Hong Kong offers employers a range of services for the entire employment and business cycle including permanent, temporary and contract recruitment; employee assessment and selection; training; outsourcing and consulting. It is an integral part of Manpower¡¦s Greater China region which covers Mainland China, Hong Kong, Macau and Taiwan. In Hong Kong, Manpower Inc. operates under four brands: Manpower, Manpower Professional, Jefferson Wells and Right Management. More information on Manpower Hong Kong is available at www.manpower.com.hk.