Is gender equality needed in business?

Is gender equality needed in business?

Gender is the difference between men and women that is not natural. Differences that are not natural include differences in roles, responsibilities, functions, and even the space in which humans move. It seems that this gender difference is inherent in the human perspective, so it seems as if it is something permanent and eternal. Gender equality is a condition in which all people must receive equal treatment and there is no discrimination against their gender identity.

Gender equality is very important for company performance. However, the irony is that gender equality in various companies has not been evenly distributed. Gender equality has a positive impact on the business scene. The benefits of gender equality itself can improve the performance of the business for the better. Due to the different roles of men and women. Thus, it can have a broad positive impact. Therefore, various initiatives were carried out to encourage companies to create a comfortable work environment for employees who have multiple roles, as well as support changes to achieve gender equality in the world of work. Therefore, a joint role is needed to encourage women’s participation in economic development by boosting productivity, presenting a fair and competitive labour market, and contributing to sustainable development.

To going grow, companies need to create gender-friendly workplaces, develop women-oriented investments, promote diversity practices, and continue to increase the number of women who hold key positions in a company. Gender equality in the work environment can lead to significant productivity gains and business growth. This awareness is widespread despite challenges. For companies, the opportunity to add more women to the board and senior leadership is a major achievement.

Gender equality is at the heart of decent work. If gender equality is implemented, global welfare can increase up to 21.7%. On the other hand, global human capital wealth losses are estimated at USD 160.2 trillion due to gender inequality.

Globally, the 2017 World Economic Forum (WEF) Study indicates that gender equality will increase global gross domestic growth (GDP) by US$ 5.3 trillion. Correspondingly, if the average labour force participation rate, working hours, and work productivity of women were equal to that of men, then the GDP of OECD countries would theoretically increase by 20% and the GDP generated by women would increase by 50%. In the World Bank’s entry-level professional position, women are at 47%. This should be appreciated along with the fact that 57% of university graduates in Indonesia are women. However, the figure drops dramatically for middle and high-level management positions. In middle management, women account for only 20% of the total workforce. The figure is even lower for high-level management, namely 5% for CEO positions and 5% for Board Members.

Many studies have attempted to quantify the potential benefits of reducing gender inequality for the economy. Generally, research finds that small breakthroughs to close gender inequality will show significant results. Instead of being a stumbling block, the condition of gender inequality in Indonesia can be seen as a huge potential for women’s contributions to economic growth that has not been explored. This potential can be explored through efforts to realize gender equality in the economic sector. This means that women and men have the same conditions and potential to contribute to national development and realize their rights as human beings. The manifestation of gender equality is the absence of discrimination between women and men in the opportunity to participate, gain access, and feel the benefits of national development.

However, the role of women may still be considered low for some companies. Even though the role of women is important for the sustainability of the company. Having a different role between men and women can also boost productivity and business growth significantly. Many women are more competent than men. Empowering women is not just to give power. Like men who have power, women naturally also have power with different characteristics from men, so their contribution can add value to the place where they work. The concept of empowerment that women need is not to be given power, but to be given the opportunity.

Based on surveys, it is stated that companies that are in the top 25 percent of gender diversity are more likely to have above-average financial returns. These financial benefits include improving the quality of business performance, expanding the range of human resource talents, innovation, and creativity, making effective decisions, as well as improving the company’s image itself.

But gender equality is still a challenge in developing countries, due to the lack of public knowledge about the importance of gender equality in business performance. But this can be overcome by talking openly about male privileges that women don’t have so that the way men perceive women can change. Changing the mindset of men in seeing women is important, changing men’s views of women can further raise the value of gender equality.

From the statement above, the role of upholding gender equality can have a good impact on business performance, therefore the efforts mentioned above must be carried out by people, so that gender equality is more evenly distributed and so that people stigmatize against gender equality.

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