Advancing Woman’s Equality Could Add $12 Trillion to Global Growth

Advancing Woman’s Equality Could Add $12 Trillion to Global Growth

Gender inequality in 2016 and beyond is inexcusable. Half of the world’s working-age population are not realizing their full potential, due to gender discrimination.

A recent McKinsey report finds that $12 trillion could be added to global GDP simply by advancing woman’s equality!

I believe this should be a top priority for business and political leaders alike. Let’s work together to equalize opportunity and compensation and end once and for all the issue of a woman being paid less for the same job as a man.

In addition to economic discrimination in order to take advantage of women, prejudice denies women equal access to leadership positions that are top-paying and influential.

Consider for a moment the composition of the S&P 1500 boards of directors:

EY graphic showing the percentage of female directors at S&P 500 companies in 2014

In other words, the business world remains dominated by men and according to McKinsey, this inequality is costing the global economy trillions of dollars a year.

My own research has shown that teams and companies led by women are better managed, more innovative, and less susceptible to the dark side of the hubris of success.

Personally, I am a champion of all forms of equality starting at home and extending to our workplaces, boards and all levels of leadership. This is more than pure idealism! If you analyze the bottom line you too will see its profitable!

Screenshot 2016-05-09 12.07.11.png

If you find yourself resistant to gender equality, consider why that may be? Is it because you are sexist? insecure or simply just prefer to dominate? Perhaps your gender bias is invisible to you. The best way to know for sure is to look at your results. Are genders on your team or in your company balance around the 50/50 mark, or more like 60/40, even 80/20?

This one change, of accepting nothing less than gender equality could add millions to your bottom line.

Read McKinsey Global Institute’s Report Executive Summary > here or access the full report > here

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