Research shows that gender equality is good for business
Workplace gender equality is associated with a range of positive outcomes for individual businesses and for the national economy.
Increased organisational performance
The annual Gender Equality at Work report, which considered performance of ASX200 companies states that companies with greater diversity among their management and directorships are less volatile, and sustain better than average performance on a range of metrics:
Companies with female chairs had the best performing year share price changes.
Female CEOs had revenue increases above the market average.
Companies with female CFOs were in-line with or above the market average on all metrics assessed.1
Attract talent and retain employees
“When workplaces are equally appealing to women and men, organisations have access to a larger talent pool. Employees value positive workplace cultures and environments that offer gender equality policies and practices, flexible working arrangements and support for employees with family and caring responsibilities.”2
Enhanced organisational reputation
Working to change the social and structural conditions that drive violence is good for business as it builds trust and loyalty and enhances the workplaces reputation by showing leadership on issues the community care about.
Improved national productivity and economic growth
According to the Women’s Gender Equality Agency, “achieving gender equality is important for workplaces not only because it is ‘fair’ and ‘the right thing to do’, but because it is also linked to a country’s overall economic performance.”3
Violence against women was estimated to cost Australian employers $1.3 billion in 2014. These costs include lost productivity, absenteeism, leave and staff turnover, and these costs are often unaccounted for.4
“People and their talents are among the core drivers of sustainable, long-term economic growth. If half of these talents are underdeveloped or underutilized, growth and sustainability will be compromised.”5