Gender Equality leads to higher profitability, smarter decision-making, better value
creation, increased employee retention and satisfaction, higher market value, and improved
Innovation. These are some of the clear facts why it is so important to implement gender diversity in any organisation.
Yesterday’s OECD Forum Series 2021 Building a gender equal recovery, had one very clear message, gender equality is crucial for fulfilling all 17 sustainable development goals. We cannot achieve the SDGs, the global agenda for people, planet, and prosperity, if we do not bring along women which represent half of our population.
Governments are understanding the urgent need to put gender equality on top of their agendas. US President Joe Biden signed an Executive Order establishing the White House Gender Policy Council. The council, seeks to advance the equality of opportunity while combating unconcious biases and discrimination against women. These types of initiatives and efforts are what is needed at the very top of every country. To have clear agendas to increase economic support for women at home, promote gender equity in leadership, prevent all forms of gender-based violence and bolster initiatives to empower women.
The OECD showed very interesting data that highlighted how the recent pandemic really put women in disadvantage. Since the pandemic women have had to face many challenges trying to juggle between home and their careers. This will have a big impact on mental health as women are working longer hours or have lost their jobs. It is important to pay attention to how this evolves, as women are in most households, the main caregivers in their families and this could have a negative ripple effect on our society.
Gender pay gap is still a huge problem in every country between men and women. The disparity in how men and women are paid is very clear, women are still being paid less than men due to no attributable reason other than gender. What really struck me at the OECD forum, was the fact that in the Healthcare sector two thirds of the workforce is represented by women, yet they are still being underpaid, even though they are the ones in the front line of this pandemic. With the long hours, women have to juggle their work, mental health, and homelife. This is unsustainable. Only 11 countries out of 26 take in consideration gender tools as part of the response of this pandemic.
An increase of Women representation in every organisation is key for success. Only 30% of leaders in the workforce are women and that’s interesting as 15% of companies with female representation are more profitable than their peers, according to the OECD. Data is clearly showing us why we need a shift on the way we operate. In order to build stronger and resilient economies, we need women to take their seat at the table and be part of the solutions that we need to get to the other side of this pandemic.
By Maria Blanca
