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Gender inequality across international markets: The opportunity costs for business

20th Apr 2021

Mélanie Chevalier, Founder & CEO of Creative Culture explores the disparity in gender equality around the world, and how brands should be careful to not fit into the one-size-fits-all trap.

At Creative Culture, we have a mission to help companies support and promote diversity, equity and inclusion (DEI) around the globe, wherever they operate. An essential factor for success of DEI policies for businesses has been the need for a strong business case to support these and to ensure DEI remains at the heart of a company’s global proposition. An important element to remember is that cross-cultural sensitivity is essential to ensure long term success.

The business case

We know that gender-based inequalities of pay and opportunity pervade societies around the world still to this day. However, despite some progress, an IBM survey from 2019 taken by 2,300 organisations across nine countries shows that only 18% of leadership positions were led by women, and 79% of them admitted not having fully prioritised gender-balanced leadership.

And, across the globe, we’re leaving a lot of money on the table by allowing the gender gap to continue. In fact, McKinsey & Company’s Global Institute report found that narrowing the gender gap could add between $12 and $28 trillion to global GDP.

McKinsey further shows that company profits and share performance can be close to 50% higher when gender equality is closer at the leadership level and that executive level women have a huge and positive impact on a company’s culture. They are more likely than their male colleagues to embrace employee-friendly policies and programmes and to champion all forms of diversity.

So, what are we waiting for?

Read the full article on Creativebrief.

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