Women as the next Smart Business Strategy
Women may well be the dominant source of economic growth in the near future – and organisations that are able to capitalise on the roles women play as economic actors will most likely have a competitive advantage as the world pulls out of the global recession. Deloitte research suggests that investment in women is the next source of substantial economic growth, for firms and countries, with direct correlations between increases in women in the workforce and increases in National GDP. In fact, a positive and often double-digit difference was found in productivity between those organisations with more women as leaders compared to those with less.
Fully integrating women into both the workplace and the marketplace can yield a significant return – what is termed the Gender Dividend, perhaps because great value derives not only from women as leaders, but also from the diversity of thought that women can help provide, as well as the use of a talent pool which, in many instances goes underutilised. A steady benefit is earned by making wise, balanced investments in developing women as workers and potential leaders, as well as understanding women as consumers and their impact on the economy and the bottom line. Done right, the Gender Dividend should be reflected in creating a better strategic position in terms of the broader socio-political environment; an ability to compete successfully in a global market; significant cost reductions in unwanted turnover; building a Talent Brand among female Talent; increased sales, expanded markets, increased innovation and improved recruitment and retention of a key talent segment.
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