The UN Global Compact has launched an online tool to further promote women's empowerment.
The Global Compact states that empowering women financially across the global economies could see and improvements to global GDP of up to 28 trillion, yes that's TRILLION US dollars by 2025. This is one of many reasons that women's empowerment should be a leading priority for companies globally.
On 15 March 2017 the United Nations Global Compact addressed the empowerment issue by launching the 'Women's Empowerment Principles (WEPs) and a Gender Gap Analysis Tool. The aim of the online tool is to assist global business leaders to identify strengths, gaps and opportunities to improve gender equality and women's empowerment in the workplace and in the markets they work within.
The Principles are as follows:
1. Establish high-level corporate leadership for gender equality
2. Treat all women and men fairly at work - respect and support human rights and non-discrimination
3. Ensure the health, safety and well-being of all women and men workers
4. Promote education, training and professional development for women
5. Implement enterprise development, supply chain and marketing practices that empower women
6. Promote equality through community initiatives and advocacy
7. Measure and publicly report on progress to achieve gender equality
It is being proven now through research that gender diversity and broader diversity across the board helps business to perform better. The recent KPMG Enterprise's 2017 ASX 300+ Report analysed 664 ASX companies representing over 65% of the Australian economy, found that in 2016 companies in Australia's mid-market sector with boardroom diversity, a dominant shareholder, or a long-serving chairperson outperformed their peers. Female CEO's in the ASX 300+ delivered a 9% increase in revenue in 2016, compared to the group-wide average of 0.5%.
Governments across the globe are recognising that women's inclusion drives development. However it has to be asked why the Australian government is so far behind on the implementation of policy that will encourage and increase employer participation and commitment. Equality is a fundamental human right yet we still struggle to implement this precept from the source - all decision making and governance.
Govsource knows that for business to succeed in future growth and diversity that intentional actions are required. Business must take advantage of women's talents, skills and experience and this needs to be reflected in deliberate policy development and business decision making.
Govesource specialises in enhancing this openness in your organisation through inclusion in your corporate policies and operations. A gender and diversity lens needs to be consistently applied to business to continue analysing current initiatives, benchmarks and reporting practices.
Some examples of how GovSource can assist you include assisting with career advancement strategies through formal mentoring programs, organisational audit of gender pay gaps, creating programs to roll out in the community to encourage females to consider traditionally male-dominated roles, employee satisfaction surveys, customised diversity awareness training, course to assist in developing women leaders, job placement experience to disadvantaged groups (single mothers and victims of domestic violence - to assist in these disadvantaged groups reclaiming their economic independence).
It is clear that research is now showing that diverse teams are making better business decisions.
Good decisions start at the source. GovSource.