Gender diversity: Challenges, Confidence and Culture
Gender Diversity-Challenges, Confidence and Culture
What does gender diversity mean?
Gender diversity at workplace means having equal treatment as well as general acceptance of both males and females working in the same organisation. Diversity adds value to a company because of different ideas, skills set and opinions from diverse individuals.
In 2010, 70% of the new employees in the workforce consisted of women. However, even though women’s presence in the business world is increasing, mostly the compensation, rewards are not as equal which is a problem that all women are currently facing at workforce. According to McKinsey & Company’s 2015 Women in the Workplace study, women are very underrepresented at every level of the corporate hierarchy — with the biggest disparity in senior leadership positions.
A business journal also shows that more than 800 business units from two companies representing two different industries – retail and hospitality – finds that gender-diverse business units have better financial outcomes than those dominated by one gender:
- Gender-diverse business units in the retail company have 14% higher average comparable revenue than less-diverse business units (5.24% vs. 4.58%).
- Gender-diverse business units in the hospitality company show 19% higher average quarterly net profit ($16,296 vs. $13,702) than less-diverse business units.
Not only that the figures show that the higher gender-diverse within the organisation, the better financial performance, but it also allows companies to recruit and retain the actual talents like women. Last but not least, it also allows the company to serve an increasingly diverse customer base!
Therefore, companies should increase gender diversity at workplace as well as creates teamwork that engage employees. Having a close, reliable and supportive relationships among employees and employers realise the power of diversity by allowing employees to express their differences in thoughts, behaviours, skills, knowledge, and talent into different innovative ideas and practices that can drive a company forward dramatically.