For decades, empirical evidence has indicated that companies where women were well represented in the workforce typically performed better than their peers with low gender diversity. One of the reasons for the beneficial outcome is that a wide diversity of perspectives facilitates better decision-making.
Businesses around the world have learned the benefits of gender equality and diversity. Diverse work teams led by agile leaders who take an inclusive approach are better positioned to unlock the full potential of employees.
To achieve this goal, companies need to build teams that truly represent diverse cohorts and local communities in India.
Organizations that encourage diversity are also able to attract young talent eager to work in democratic environments with a transparent work environment.
PROBLEMS AND ADVANTAGES OF GENDER EQUALITY
Significantly, NASSCOM’s March 2020 report on trends in diversity and inclusion in India’s technology industry reveals that women made up more than 35% of the workforce in the technology segment in FY2020 .The increase in the number of women in the workforce may not be a coincidence, as many companies are making concerted efforts to improve gender diversity through various means, including the use of technology, to eradicate biases in their hiring process.
According to a report by the McKinsey Global Institute, promoting women’s equality can potentially increase annual global GDP to $12 trillion by 2025. However, to achieve this goal, the public, private and social sectors should ‘act to reduce the gender gap in the workplace and society. .
As well as being a crucial social issue, women’s empowerment and gender equality are fundamental human rights. Recognizing the importance of gender equity, one of the goals of the UN Sustainable Development Goal is dedicated to gender equality.
GENDER EQUALITY PROMOTION INITIATIVE
Accordingly, the Women’s Empowerment Principles (WEP) have been formulated as guidelines for companies to promote gender equity and women’s empowerment in the marketplace, workplace and community .
Announced by UN Women and the United Nations Global Compact, the WEPs are designed as international human rights and labor standards, based on the recognition that businesses have both an interest and a responsibility in promoting gender equality and the empowerment of women.
WEPs are a primary means for businesses to meet the gender equality aspects of the UN’s 2030 SDG agenda. By participating in WEPs, companies demonstrate their commitment to working collaboratively with multi-stakeholder networks to foster favorable business practices that empower women.
In addition, companies that promote women’s empowerment have curated programs focused on retaining female staff returning to work after an extended break, offering maternity support and encouraging women’s career development.
Many organizations are promoting digital literacy and skills because technology is now perceived as a game changer for women’s empowerment.
Among other technological devices, computers and smartphones have facilitated the participation of girls and women in various activities, personal and professional, while helping them to overcome family and social restrictions.
BENEFITS OF ICT AND STEM
The fundamental role of ICT (information and communication technology) in gender empowerment is a globally accepted fact. ICT is seen as an enabler that improves women’s economic empowerment in terms of earning capacity, position in society and greater participation in decision-making at home and in the workplace.
However, these steps do not mean that the barriers against women’s empowerment in the workplace have been removed. Many reports note that although men and women can start their careers at the same age, career progression among women tends to be slower. Men in senior positions are typically younger than their female counterparts in similar roles.
Given the various initiatives by multiple entities like the UN, NASSCOM, the corporate world and the Central Government, it is hoped that greater representation of women in the workplace along with greater gender diversity will soon become a reality. basic
Article by: Midhula Devabhaktuni, Co-Founder and CMO, Mivi
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