Making International Women’s Day action oriented!

Today’s is International Women’s Day , an annual day to encourage all of us to strive for a gender equal world, free of bias, stereotypes, and discrimination. A world that's diverse, equitable, and inclusive.

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While I think there has been some progress in this regard, it remains the case that most companies are run by men still.? Only 10% of Fortune 500 companies are run by women, only 7% in Europe.

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Globally, women are paid less than men, with the gender pay gap estimated at around 20 % globally. According to the UN, women earn 77 cents for every dollar men earn for work of equal value – with an even wider wage gap for women with children. At this rate, it will take the next 257 years to close the global gender pay gap.

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That will not stop many companies writing content today which depicts their firm as super focused on gender equality….and I always have a little laugh when I see the Twitter/X bot that analyses each of these companies to see if they truly have pay equality!? Many talk the talk – but they don’t walk the walk!

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Before I started ENA Capital Partners , I was CEO of Turkey’s largest transport and logistics company – with 16000 employees.? I became a leader in an industry dominated by men and in a country not known for gender equality and so unusual was it to see a female CEO back then, I was often written about as? a pioneer as under my leadership, the company became known not only for business excellence but also empowering women.

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You can guess that this is an issue I am passionate about.? I gave a speech at the UN’s Annual Women’s Empowerment Principles (WEPs) event entitled "Being a woman leader in the field of male dominant business? and signed the Principles of Women's Empowerment at the event. ?I was awarded? a special “Woman of the Year” category for 2015, by the IAIR Global Economy and Sustainability organization. ?

So, what should businesses do to really walk the walk in terms of gender equality?

First – stop the gender pay gap and pay women the same as you pay men for the same job!

Second, do whatever it takes to encourage women to take senior roles in the business – and for senior women already there, to mentor rising female stars as they rise.? Create a work environment that supports women and drives diversity.? For example, providing nursery rooms for working mothers and flexible working hours.? We need to embed gender diversity in HR and talent management systems and get rid of bias.? According to a McKinsey study , when a woman’s name was replaced with a man’s name on a resume, evaluators were 60% more likely to say they would hire the applicant.?

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Third, business associations and chambers of commerce need to really drive programs to motivate women to start businesses and be entrepreneurial.? I was the Chairwoman of the TOBB (Turkish Chambers of Commerce) Board of Women Entrepreneurs until 2018, and this was key.? I then created my own business, so I can tell you, it is an empowering experience but women need more advice and encouragement to do this.

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So, this International Women’s Day I really hope we do see less corporate virtual signalling on social media, and more real action – on pay, senior female appointments and encouraging female entrepreneurs.? The world needs it.

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