Gender equality is the ability for people to access and enjoy the same rewards, resources and opportunities regardless of their gender. For example, this includes women being paid equal to men, as well as having access to the same opportunities as men. Gender equality is essential for the success of any organization.
By supporting gender equality, your organization can benefit from reduced turnover and a greater potential to hire qualified candidates. Furthermore, a study by McKinsey & Company estimated that Canada could stand to gain $150 billion in GDP by 2026—equivalent to 0.6 per cent a year—by narrowing the gender gap.
This topic is especially relevant today, as the COVID-19 pandemic disproportionately impacted women. In fact, as of April, female participation in the Canadian workforce dropped to 55 per cent for the first time since 1986.
Consider the following steps to support gender equality:
- Promote work-life balance — If possible, allow employees the flexibility of picking their hours. Consider a program to help pay for all or part of your employees’ child care and eldercare. To reduce the burden of child care on mothers, encourage the use of parental leave for fathers.
- Reassess senior management job requirements — Assess whether your senior position job requirements might result in fewer applications from women. For example, you may be able to reduce the amount of experience required from 15 years to 10 years.
- Provide mentorship opportunities — Develop a mentorship program that is open to the entire company. Don’t limit matches to same-sex pairs. Prepare mentors to address questions related to salary and inequality.
Contact The Hull Group today for more information.
In 2018, women earned an average of 13.3% less per hour than men.