What do we know about the global gender pay gap? Well, you should know that women, on average, still make only 80 cents for every $1 a man makes. But, this tired statistic is only the tip of the metaphorical iceberg.
Gender inequality in the workplace is not harming only women. It is hurting the companies they work for, and the global economy as a whole. The McKinsey Global Institute estimates that narrowing the global gender gap could add $12 trillion to the gross domestic product.
Increasing women’s roles can have a similar effect on your organization. A study of gender diversity of firms in S&P’s composite 1,500 list demonstrated this effect. The study found that female representation in top management leads to an average increase of $42 million in firm value.
Gender diversity, like other diversity, helps to improve your company’s creativity and decision-making. These increases, in turn, help drive productivity and company success in totality.
We know that the fewer women there are in your organization, the harder it will be to claim success. But, how do we get more women in the workplace?
How do we decrease gender inequality in the workplace?
Decreasing gender inequality is one of those things (like trying to look cool while drinking a juice box or avoiding politics during Thanksgiving) that is much easier said than done.
Here at The Olson Group, we believe in the power of employee benefits. This belief extends to tackling this problematic gender pay gap. Your business can use its employee benefits to close any gender gaps within the organization.
Each of the following four benefits is capable of reducing specific barriers for women entering the workplace.
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Learn more about flexible work arrangements and their potential benefits to your company.