Building faster economic growth - think women!
Introduction
The world economies are falling apart in most places. Already, it has been projected that 2024 would experience a slow economic growth in many places. Each country is battling with the effects of inflation. In some places, the price of goods and services have more then doubled. While world leaders and various governments try to find solution to their economic challenges, one important area is being overlooked - economic inclusion for women.
There are are always more men in the workforce than women. Sometimes, there are sectors that suffer greatly from this economic discrimination. In such sectors, men account for more then 80% of the participants. Balancing the gender discriminations in the various sectors could be one big way to boost economic growth.
This presentation is based on a Worldbank report which analyzed the benefits of economic inclusion for women. Let us look at 4 critical areas that the world is failing to utilize the female workforce in the quest to grow various economies.
Women are being ignored
The world is probably making a huge mistake by not offering women more economic opportunities. Here are 4 things that everyone that puts women aware from the workforce should seriously thing about:
- Women constitute half the global population. source
The above is a telling statistic, isn't it? Population has an amazing way of influencing the economic growth of any place. If a certain population has more active workforce, they are able to add to more economic growth because each contribution counts. The power of duplication of effort makes more people in the workforce a valuable asset of economic growth.
Having half of the world's population in the female gender means that there is a lot of workforce to be tapped into. Unfortunately, this huge numbers of workable women are left out of most sectors. With the men taking up most of the decision-making roles in more organizations, it is not hard to see why the world economy might not grow as fast as it should - it basically is operating on half power.
So those that make laws should consider making laws that allow all gender equal access to economic opportunities. The more people there are in the workforce, the better or faster the economic growth.
- in at least 65 countries, women are barred from lucrative professions in transportation, manufacturing, construction, water, energy, and mining—sectors that often offer higher remuneration source
The above figure is sadly the reality. Perhaps, it is worse than that. There are professions that are often thought of as 'for men only'. Its not about being incompetent physically or intellectually. Its just a matter of gender discrimination. Women can fill those roles and perform efficiently in whatever objective the position requires. But when they are systematically screened out during hiring, then it becomes difficult for them to participate in certain jobs.
Taking the transportation sector as an example. In most countries, driving jobs are strictly for men. The men occupy almost every taxi driver's sit there are. If the two genders apply for a driving job, the man will likely have more chances of securing the job than the woman. Its systematically becoming the norm everywhere. But then, its better to allow women the same well-paying jobs that men enjoy. That is a great way to multiply the workforce and foster economic growth.
- Yet governments hold the power to enact meaningful change. By reforming laws, and putting in place strong enforcement mechanisms, they can effectively combat gender discrimination. source
This is where change should begin. It should begin from law-makers and various administrative positions in government. In countries with really poor statistics of women in the workforce, there are always laws that prohibit women from doing certain types of jobs. The various governments need to start reviewing their labor laws and policies that restrict women from accessing economic opportunities with the male gender.
Making such laws would be a great first step towards opening up the way for more women to be hired. This should be the case especially in those sectors where women are usually isolated. Beyond making such labor laws, implementation seems to be a recurring challenge. Companies, especially HR departments need to follow the laws made to protect women from economic discrimination.
The world has half of its population in the female gender. So when governments start to identify the female sector as one with big potential, then they could implement laws that encourages more women to take up roles in various sectors.
Many women are already taking bold steps to break the jinx especially in sectors dominated by the male gender. Some women have taken up professional careers in the energy and transportation sectors. These are worthwhile efforts that should not only be appreciated, but also encouraged.
Conclusion
Gender inequality in the economic setting remains a big deterrent of economic growth. People in positions of leadership should do their best to help create a better enabling environment where women are allowed to take up roles in any sector and receive same rewards as those of the male gender.
Posted Using InLeo Alpha