Equality Means Business!
CAREERS HAVE NO GENDER! Without Gender Equality (SDG#5), we’d deprive the global GDP of USD 5.3 trillion by the year 2025 (Richard & Manyika , 2015). Women have proven that their presence is fundamental due to the unique contribution they make at different levels of the hierarchical structures and in educating promising blossoming generations.
Research cites that “Equality means Business”, it proves evidence that businesses that acquire more women in senior levels are more likely able to shift their core focus from short-term profit maximization to long term prosperity. More often, women can also lead the way on achieving the UN Global Goals (SDGs) resulting in the creation of an improved environment as they tend to prioritize environmental and societal oriented issues and solely invest in Corporate Social Responsibility (CSR).
Therefore, endorsing the Women Empowerment Principals (WEP) to all businesses will definitely generate higher financial returns in the private sector and results in creating improved social governance standards that pave the way towards the 2030 Agenda. The principals emphasize the business case for corporate action to promote gender equality and enhance women social and economic empowerment.
Businesses adopting the WEP take action across all the seven stated principals (Compact, n.d.):
- Principle 1: Establish high-level corporate leadership for gender equality
- Principle 2: Treat all women and men fairly at work – respect and support human rights and nondiscrimination
- Principle 3: Ensure the health, safety and well-being of all women and men workers
- Principle 4: Promote education, training and professional development for women
- Principle 5: Implement enterprise development, supply chain and marketing practices that empower women
- Principle 6: Promote equality through community initiatives and advocacy
- Principle 7: Measure and publicly report on progress to achieve gender equality
The importance of these principals and Gender Equality is magnified by how closely it is connected to attaining other key goals, such as Goal 1 (No Poverty) where women comprise 60% of the working poor globally, Goal 3 (Good Health and Well Being), Goal 4 (Quality Education), Goal 10 (Reduced Inequalities), and finally but not the least Goal 16 (Good and Inclusive Governance).
Women empowerment is smart economics; it shouldn’t be perceived as a desirable aspiration, it should be perceived as an absolute necessity.
Compact, U. N. G., n.d. Women’s Empowerment Principals , s.l.: s.n.
Richard, D. &
Manyika , J., 2015. McKinsey and Company. [Online]
[Accessed 22 April 2018 ].