Originally published July 23, 2022 , updated on January 17, 2023

Gender equality has evolved dramatically over the last few years. The call for women’s rights to be both recognised and upheld has led society down a path of true and sustainable change. In recent years, there has been a growing awareness of the importance of gender equality. Women are increasingly speaking out about the discrimination and violence they face on a daily basis. 

At the same time, more and more countries are taking steps to promote gender equality. In 2015, the 193 member countries of the United Nations gathered together and committed to 17 Sustainable Development Goals. Goal 5 is purposed around gender equality. It holds the aim to achieve gender equality and empower females across the globe by 2030. 

Since then, progress has been made in some areas, but there is still a long way to go. In many parts of the world, people don’t treat women equally to men yet. They earn less money for doing the same job. Also, they are more likely to be subjected to violence. Also, they often have fewer opportunities to access education and employment. If we are to achieve gender equality by 2030, it is essential that everyone – governments, businesses, civil society organisations, and individuals – takes action to address these inequalities. Only then can we create a fairer and more just world for all.

But to conduct change, we need to understand what exactly needs transforming and why. Below are five facts, both negative and positive, about gender equality in our society today. 

Gender Inequality Grew After the Pandemic

The Covid-19 pandemic impacted everyone in one negative way or another. No one came out unscathed. However, regarding economic factors, women have been hit harder. Mckinsey’s research has found that women’s jobs were just under two times as vulnerable as men’s during this crisis. 

Women are more likely to be in sectors that have been hit hard by the pandemic. Sectors such as retail and hospitality. They are also more likely to work part-time or in informal employment. It makes them less likely to have access to social protection measures. In addition, women are more likely to be responsible for unpaid care work, a major source of stress during the pandemic. 

As a result, women have borne the brunt of the pandemic regarding employment. Research shows that this crisis has accentuated existing gender disparities in the labour market, and we must take action to address these inequalities.

Automation Threatens Many Job Positions

The 2019 Mckinsey report on automation shows that one out of four men and women will have to change their job roles to adjust to widespread automation. But while there is no gender discrimination regarding automation, women will witness a more challenging reality when it comes to altering their positions or finding a new job altogether. 

That’s because the roles that will become more prevalent will be in the technology sector as well as leadership positions. Unfortunately, the long-standing marginalisation of women in the economic sector over the years has deeply hindered women’s chances of obtaining these particular roles. 

Women face several unique challenges when learning new skills and searching for employment. For one, they spend much more time than men on unpaid care work. This can leave them with less time to invest in their refresher courses or network with potential employers. 

Additionally, women often face financial constraints that make it difficult to invest in new skills or take time off needed to search for new employment. Finally, women may not have the same professional networks as men. This lack of networks makes it harder for them to adjust to novel job transitions. While many factors contribute to the gender disparities in the workforce, these are just a few of the challenges that women face daily.

There is a growing recognition of the importance of digital technology and STEM fields in today’s economy. However, businesses continue to underrepresent women in these areas. One reason is that women tend to have less access to digital technology and lower participation in STEM fields than men.

There Is a Lack of Women in Management Positions

In recent years, the percentage of women garnering both entry-level and C-suite job positions has increased. While this is an improvement, the growth doesn’t seem to occur in job roles higher than C-Suite. 

The corporate ladder is anything but ladder-like for women. It’s more like a series of hurdles, with the biggest one coming at the very first step up to the manager level. This “broken rung” is due to various factors. Some of them include gender bias, a lack of mentors and sponsors, and a scarcity of senior-level role models. 

As a result, women are less likely than men to be promoted to managerial positions. And those who do make it to the C-suite often leave companies faster than their male counterparts. The good news is that more and more companies are starting to recognise the need to address this issue. 

By creating programs that promote mentorship and sponsorship, as well as increasing transparency around promotions and pay, organisations can help close the gender gap and create a level playing field for all employees.

Women of Colour

But a deeply ingrained inequality still displays itself in women of colour. They are significantly underrepresented at all levels. The disparities only increase as one moves up the corporate ladder. According to Mckinnsey’s 2019 Women in the Workplace research, women of colour hold up to 18 per cent of entry-level positions. However, their C-suite representation is a mere 4 per cent. 

We can’t explain these disparities simply by a lack of qualifications. Women of colour are just as likely as white men to have the required education and experience for senior-level positions. The root cause of the problem is systemic bias and discrimination. Women of colour are often passed over for promotions. Managers don’t give them stretch assignments that would help them develop their skills. They are also subjected to microaggressions and other forms of bias daily. As a result, they face an uphill battle to reach the top levels of corporate America.

Despite these challenges, women of colour continue to make progress. More and more companies recognise the value of diversity and inclusion. 

Companies That Prioritise Gender Equality and Diversity Outperform Peers

While many still think of gender equality as a women’s issue, economies and businesses need it to thrive. A recent study by McKinsey in May 2020, Diversity Wins, found that companies with a higher level of both gender and ethnic diversity are more likely to have better financial performance. Companies that foster a deeper sense of gender equality and diversity within their workplace and sit in the first quartile are 25% more likely to experience higher profits than companies that lie in the fourth quartile. 

There are many reasons for this. For one, a diverse workforce brings different perspectives and skills to the table, leading to more innovative solutions. In addition, companies that people see as committed to gender equality are often more attractive to top talent. As the world becomes increasingly interconnected, it’s more important than ever for businesses to be able to understand and tap into different markets. Those that embrace diversity will be well-positioned to succeed in the global economy.

The study also found that companies with more women in senior leadership positions were more likely to be profitable and have a diverse workforce. The findings suggest that companies would do well to promote more women into leadership positions. Not only is it good for business, but it’s also good for promoting diversity and inclusion in the workplace. 

Diversity At Workplace

It is important for companies to value workplace diversity. By embracing employees from diverse backgrounds, experiences, and perspectives, companies can tap into a vast pool of potential talent. They can also help drive innovation and creativity. Companies send a strong message that they are open-minded and forward-thinking. 

Businesses that embrace workplace diversity are better able to compete in today’s global market. Additionally, these companies can attract and retain top talent. Workplace diversity benefits employees. A diverse workforce provides individuals with the opportunity to learn from others who have different backgrounds and perspectives. This type of learning can help employees to become more well-rounded and open-minded. In turn, this can lead to improved job satisfaction and increased productivity. 

The benefits of workplace diversity are evident. Companies that embrace this phenomenon will be well-positioned for success in today’s ever-changing landscape. When companies adopt workplace diversity as a priority, they are not only making smart business decisions but also sending a powerful message about their values.

Gender Equality Increases Global GDP

Gender inequality is a global problem but particularly acute in developing countries. The effects of gender inequality are far-reaching and damaging, both to individuals and to societies as a whole. 

At a more systemic level, gender inequality perpetuates poverty and undermines economic growth. It also contributes to social instability and conflict. Given the far-reaching effects of gender inequality, it is clear that addressing this issue is not only a moral imperative but also an economic necessity.

A recent study has found that closing the gender gap could have a significant impact on the global economy. The research found that in a best-in-region scenario, in which all countries match the performance of the country in their region that has made the most progress toward gender equality, it’s possible to add $12 trillion a year to GDP in 2025. 

While the study did not specify how this increase would be achieved, it is clear that closing the gender gap would have a major impact on the world economy. Given the significance of this potential boost to GDP, it is clear that efforts to promote gender equality should be a top priority for policymakers around the globe.

Promotion Opportunities

Women have made great strides in achieving parity with men in terms of education and qualifications. But they still earn less than their male counterparts for the same work. They are also less likely to be promoted to leadership positions and are more likely to be subjected to sexual harassment and discrimination. These disparities exist in nearly every country and sector. They cause a drag on economies and preventing women from reaching their full potential. 

To close the gender gap, we need a concerted effort to change social norms, improve legislation, and increase opportunities for women. Only then can we hope to achieve true gender equality.

Read more about how gender equality can boost global GDP here. 

Nobody should ignore these gender equality facts. Shedding light on the concealed parts of our world today creates both awareness and encouragement to act. If we truly attempt to realise the significance of gender parity and what benefits it can bring the world, we will be able to cultivate a thriving society.

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