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In the interconnected world with profound scrutiny of business impact on society, businesses around the world work to adopt human rights—one of the Ten Principles of the United Nations Global Compact—as their sustainability indicator and reevaluate their policy, moral, and commercial practice for community enhancement. Gender equality is at the very heart of human rights. Women, one of the vulnerable groups who are underrepresented in the business world, are encouraged to take on full participation in economic life and empowered in all settings— workplace, marketplace, and community. Accordingly, the private sector is called for collaboration in promoting fair treatment of women and uplifting the standard of gender equality in the workplace.
WOMEN IN BUSINESS
Women are a significant player in driving changes in business growth, as indicated by recent research from UNGC, which shows that gender diversity can boost productivity, profitability, and organizational effectiveness. Achieving gender equality can add $12 trillion to the global economy and help businesses perform better, signaling that “self-interest and common interest” can come together. Moreover, World Economic Forum research shows that organizations also benefit from having gender equality in the workplace. Companies with above-average diversity scores drive 45% of average revenue from innovation, while companies with below-average diversity scores drive only 26%. As a result, businesses also benefit from GREATer gender equality.
WOMEN’S EMPOWERMENT
On the other hand, business actors—the engine for 90% of jobs in developing countries, the source of technology innovators, capital creators, and investors—will need to put more effort into accelerating the pace of change with a tremendous opportunity to make a positive impact. For example, Brandix Essentials, a Sri Lankan apparel manufacturer, also cares for the livelihood of female employees with children, as there is on-site breastfeeding accommodation at the lactation room and available educational scholarships for workers’ children. While better female employee well-being can help increase productivity, respecting and supporting women’s specific needs and health conditions can reduce turnover and absenteeism.
At BRANDi, we take pride in emphasizing equal opportunity and representation for all BRANDists, regardless of gender or outward appearance. We ensure effective participation and leadership opportunities, not only in our workforce but also in our client’s organizations. Though some experts suggested that it would take more than a century to achieve men-women economic parity, there are still progresses to cherish along the way, and this progress counts. With business commitment, we can create a world where gender equality is enjoyed by all.
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