Economy would benefit from gender parity
GDP would rise if women were paid equally, Jill Earthy and Lois Nahirney write.
Throughout Canadian history, women have gradually taken their place alongside men. In 1875, a Canadian became the first woman in the British Empire to receive a bachelor’s degree. Most Canadian women were given the federal vote in 1917 (although it wasn’t until 1960 that all women could vote). In 1929, women were declared “persons” under Canadian law. In 1952, the first female chief of a First Nation was elected. The struggle for gender parity isn’t new, so why is it still news?
Women make up 56 per cent of Canadian post-secondary graduates. They generally earn higher marks than men, yet women in full-time jobs earn about 73 cents for every dollar men earn. Also, women make up approximately 48 per cent of the labour force but only about 15 per cent of CEOs. And although half the population is female, and more women vote than men, women hold just 26 per cent of the seats in the House of Commons. Yes, it’s 2018, but we haven’t yet achieved gender parity and the World Economic Forum predicts it will take until 2133 until we do.
What is holding us back? Anne-Marie Slaughter, president of the New America Foundation, believes men need to become equal caregivers so employers will view all employees as providers of both care and income for their families. She recommends parents talk to their sons and daughters in the same way about combining their personal and career goals.
Changing gender stereotypes isn’t just the right thing to do from an empowerment standpoint, it also creates benefits. A recent report from the McKinsey Global Institute found that addressing gender inequality could add $150 billion in incremental GDP in 2026, which is six per cent higher than business-as-usual GDP growth forecasts over the next decade. Having parity at the decision-making level helps companies generate ideas and products that are more reflective of the customers they serve.
Of course, true gender parity is about more than men and women. A report from LGBT2020 states the U.S. economy could save $9 billion annually if organizations were more effective at implementing diversity and inclusion policies for LGBT staff.
“Creating an equal future” is the goal of the 2018 We For She forum, which takes place on Nov. 16 in Vancouver. Now in its fifth year, the one-day forum is one of North America’s largest gatherings of current and emerging female and male leaders collaborating to advance gender equality and grow the Canadian economy. The forum seeks to accelerate change by teaching, inspiring and empowering women — and men — to stand up for equality. Speaking out can be effective, as we saw with the women’s marches, the #MeToo movement, Oprah Winfrey’s speech at the Golden Globes and Prime Minister Justin Trudeau’s speech at Davos, Switzerland.
Another way to accelerate change is to champion young people to shape change through their own choices. The We For She forum brings hundreds of B.C. students in Grades 10 to 12 together with business leaders, women’s organizations, companies, experts, politicians, advocates and teachers to shift the dial on gender equality. These young people will be invited to share their input, experiences and vision for gender equity and participate in the creation of a call to action. Teenage transgender advocates Tru Wilson and Levi Nahirney will be hosting a session on loving your personal story.
If we’re still talking about gender parity by 2133, we hope it won’t be because we’re still struggling to achieve it. We hope it will be because we’re celebrating our stronger GDP, our enhanced sense of pride, our wonderful innovations and all the societal and economic benefits that accrue from a system that is both fair and equal — to all genders.
Women make up ... 48 per cent of the labour force but only about 15 per cent of CEOs. And although ... more women vote than men, women hold just 26 per cent of the seats in the House of Commons.