Firms need to reap gender dividend by investing in women
Capturing women’s insight in the workplace and embracing their role as powerful consumers is key to economic growth and competitive advantage in 2011, according to a new report.
The report, ‘The Gender Dividend: Making the Business Case for Investing in Women’, published by business advisory firm Deloitte, suggests that governments around the world should give as much weight to demographics and the vital role women play in driving economic growth as they do to analysing regions and industries.
According to the report, the role women play - or don’t play - can affect economic competitiveness. With an ageing population and a shortage of skilled workers looming, economies must be ever more resourceful in making efficient use of all the talent available.
Women make up nearly half the working population in many regions around the world, and make a big impact in shaping household spending and consumer choices. Planning to realise the gender dividend can be reflected in increased sales, expanded markets, and improved recruitment and retention of key talent.
Jane Whitlock, partner at Deloitte, said: “This report shows that failing to capitalise on women as employees, leaders, and consumers has a real impact on the bottom line and the overall success of an organisation.
“To tackle this, investing in women must be taken out of the realm of ideology. Advancing women to more senior roles needs to be viewed as any other business decision – and that involves building a solid business case. When a company proposes to invest in cyber-security, the impact of the bottom line is always analysed and weighed. Investment in women should follow the same rationale.”
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