Gender Diversity
Reports and research have repeatedly shown the concrete advantages of creating gender-diverse workplaces.
Financial Performance & Greater Profitability:
McKinsey & Company research has consistently demonstrated a significant correlation between gender diversity on the executive team and financial performance. Top-quartile companies in gender diversity on the executive team, for example, are more likely to outperform bottom-quartile companies.
Research by MARKET INSPECTOR also pointed out that firms with a higher proportion of women in management have a greater return on investment.
Better Returns: Studies have shown that firms with more women on their boards financially outperform firms without.
Continuous Effort: Just as a watering can needs constant refilling to nourish a garden, achieving genuine gender diversity requires ongoing effort. It’s not a one-time fix. The work is never finished, because society is always changing.
Diverse Perspectives: Gender-diverse teams have access to Wider variety of attitudes and experiences to draw upon, which helps achieve more thoughtful and balanced decision-making. This variety of thoughts promotes innovation and creativity so that businesses can cope with evolving market conditions and innovate new products and services. Fewer Groupthink:
Diverse groups are also less likely to fall victim to “groupthink,” where members uncritically accept the majority view without weighing alternatives.
The World Economic Forum and Global Gender Gap Report 2024 – As shown by this year’s index results, the scale and speed of progress are deeply insufficient to achieve gender equality by 2030. Resourcing gender-equality efforts is crucial to avoid the rollback of hard-earned progress, and to ensure that pathways to growth, prosperity, innovation, and sustainability are levelling the ground for all persons.
The European Institute for Gender Equality has some very interesting notes for each country’s performance for this year’s index.
Article collated by Sonny Cutting for The Entrepreneurs Blog.
