ILO Report: Gender Diversity good for business and Economy

May 24, 2019

According to a recent report released by United Nation’s (UN) International Labour Organization (ILO), Companies that improve gender diversity especially at top perform better and rake in higher profits.

Key Highlights

About: The report released by UN’s ILO is titled as “Women in Business and Management: The business case for change.”
Based on: The report findings are based on a global survey conducted by ILO of about 13,000 companies across 70 countries. It also analysed data from 186 countries from a period between 1991 and 2017.
Key Findings of Report
Companies that improve gender diversity (i.e. equitable representation of people of different genders) especially in their management perform better and reported higher profits hikes in between 5% to 20%.
An analysis of data from 186 countries for period 1991-2017 showed that Countries that increase women employment see better economic growth.
As per 57% companies, growing number of women at top made it easier for company to attract and retain talent.
Over 54 % companies agreed that with effective gender inclusivity they improved in creativity, innovation and openness and enhanced their company’s reputation.
Significance: The report results are eye-opening as it shows that companies should look at gender balance as a bottom-line issue and not just as a human resources issue.

About International Labour Organization (ILO)

It was founded on 29 October 1919 and is headquartered in Geneva Switzerland.
It became United Nations first specialised agency in 1946.
ILO has 187 member states. 186 of them are out of 193 UN member states and plus Cook Islands.

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