Fun Fact Friday - Gender Diversity

Did you know that companies with higher levels of gender diversity are more likely to experience greater financial success? A recent study by the Credit Suisse Research Institute found that companies with the highest levels of gender diversity in senior management teams were over 25% more likely to achieve above-average profitability. Additionally, businesses that close their gender pay gaps experience stronger employee loyalty, and performance. It's clear that taking measures to promote gender parity and diversity in the workforce can have a direct impact on a company’s bottom line - yet very few allocate budget to Diversity initiatives!

Gender diversity in the workplace brings a variety of benefits to companies, not just reduced pay disparity. Studies have shown that gender-diverse companies are more successful in achieving their goals and objectives, since they often have better access to partners, customer base, talent, and a wider range of ideas in their Workforce. This can lead to greater innovation, higher employee satisfaction, lower turnover rates and improved customer relations. Moreover, businesses with a diverse range of employees report increased profitability due to the new perspectives and insights they bring to the table. Gender parity is essential for businesses to realise these advantages, as it ensures that everyone has an equal opportunity to reach their fullest potential and contribute equally to the organisation's success.

Unfortunately, there’s still a long way to go before gender pay parity is a reality in most countries and industries. A global research conducted by the Institute for Women’s Policy Research recently revealed that women worldwide (as an average) are still only paid around 80% of what men earn for similar work. This gap is even larger in some countries, with women in Japan earning approx 62% of the median salary of their male counterparts (in the same jobs). It's essential that employers take measures to promote gender equality in all aspects of their operations and address any existing gaps in terms of salaries and benefits.

Happy FriYAY peeps, see you on the flip-side!