Gender diversity good for businesses: UN-ILO ReportDate: 24 May 2019 Tags: Reports & Indices
According to recently released report titled “Women in Business and Management: The business case for change”, companies that improve gender diversity especially at the top perform better and rake in higher profits. It also noted that countries that increase women employment see better economic growth.
It was released by United Nation’s (UN) International Labour Organization (ILO). Its findings are based on a survey of nearly 13,000 companies across 70 countries. It also had analysed data from 186 countries between 1991 and 2017,
Key findings of the report
- Gender diversity is smart business strategy and companies that improve gender diversity perform better and reported higher profits hikes between 5 to 20%.
- Growing number of women at top has made it easier to attract and retain talent. Besides there are improvements in creativity, innovation and openness. Moreover, effective gender inclusivity enhanced their company’s reputation.
- Countries that increase women employment also see better economic growth. Thus, it is necessary to look at gender balance as bottom-line issue, not just a human resources issue.