What You Should Know
The Facts Surrounding Gender Diversity In The Workplace
In an effort to realize the most effective work environment, a series of gender diversity studies have sought to quantify the impact of women in business. The principle of collaboration between genders has been shown to improve the work environment, increase productivity and result in superior business decisions. In order to establish and maintain a leading edge, businesses need to incorporate women. In so doing, these businesses cultivate a culture of inclusion resulting in engaged employees operating at maximum productivity.
Gender diversity studies have validated women in the work place and support the principle of collaboration as well as the premise that all women have a right to lead and to contribute at the highest level. Did you know…
In 2017, the World Economic Forum calculated the pay disparity gap between men and women would take until 2186 – 170 years – to close.
Companies with a higher percentage of women in executive positions have a 34% higher total return to shareholders than those that do not.
Companies with the most women directors outperform those with the least on return on invested capital by 26%.
On average, companies with the highest percentages of women board directors outperformed those with the least by 53%.
On average, companies with the highest percentages of women on board directors outperformed those with the least by 42%.
On Average, companies with the highest percentages of women board directors outperformed those with the least by 66 %.
Women are nearly half the work force and hiring pool.
50% of women enter the work force compared to 80% of men and are typically represented by low paying jobs despite an increase in education.
In a study of the financial performance of U.S. companies from 2011-2016, those with at least three women on the board had median gains in return on equity 11% higher, and earnings per share 45% higher, than companies with no women directors.
Globally, women comprise 15% of all board seats, up from 12% in 2015
Companies with a female CEO or board chair have almost twice as many women on the board as companies led by men.
The global giants on diversity in the board room are:
- NORWAY – 42%
- FRANCE – 33%
- SWEDEN – 32%
- NEW ZEALAND – 28% (FROM 18%) / 11% OF BOARD CHAIRS (FROM 5%), REPRESENTING THE STRONGEST GROWTH SINCE 2015
Regionally, countries in the Americas and Asia Pacific region have progressed the least and, in regard to women chairs are at the same level at either 4 or 5%
Globally, women hold an average of just 21% of senior management roles and only 9% of CEO jobs.
The number of women holding CEO positions among Fortune 500 companies in the US was just 4.2% in 2016.
In the United States, According to the U.S. Department of Education, for the school-year 2016-17, women were projected to earn 57.3% of B.A.’s, 58.3% of M.A.’s and 52.2% of doctoral degrees (Catalyst) yet, the number of women chairs hovers at 4% in the Americas, one of the three regions who have progressed the least along with the EMEA at 5% and Asia Pacific at 4%.
Ethnicity and gender interact to create especially large pay gaps for minority women. In 2013 “women of all major racial and ethnic groups earned less than men of the same group, and also earned less than white men.
- HISPANIC WOMEN EARNED ONLY 61.2 PER CENT OF WHITE MEN’S MEDIAN WEEKLY EARNINGS. (BUT, 91.1% OF HISPANIC MEN)
- MEDIAN WEEKLY EARNINGS OF BLACK WOMEN WERE ONLY 68.6 PER CENT OF WHITE MEN’S EARNINGS. (BUT, 91.3% OF BLACK MEN)
When paid and unpaid work are combined, women in developing countries work more than men, with less time for education, leisure, political participation and self-care.
Almost 90 per cent of 143 economies studied have at least one legal difference restricting women’s economic opportunities. 79 economies have laws that restrict the types of jobs that women can do and husbands can object to their wives working and prevent them from accepting jobs in 15 economies.
Women bear disproportionate responsibility for unpaid care work. Women devote 1 to 3 hours more a day to housework than men; 2 to 10 times the amount of time a day to care (for children, elderly, and the sick), and 1 to 4 hours less a day to market activities.
It is calculated that women could increase their income globally by up to 76 per cent if the employment participation gap and the wage gap between women and men were closed. This is calculated to have a global value of USD 17 trillion.
Women farmers control less land than men, have limited access to inputs, seeds, credits, and extension services and only 20 per cent of landholders are women. Then discrepancy affects benefit from new economic opportunities.
Gender-Diverse business units in the retail company have 14% higher average than the less diverse.
Gender-diverse business units in the hospitality company show 19% higher average quarterly net profit than less diverse units.
Globally, women are paid less than men. Women in most countries earn on average only 60 to 75 per cent of men’s wages.
Men and women are equally ambitious, with 73% of men and 67% of women aspiring to reach a top leadership position.
Just 22% of men compared to 44% of women believe that equally capable men and women are not paid or rewarded equally.