Corporate Reputation

Creating equal opportunities is not enough – placing ‘equity’ centre stage for International Women’s Day

Creating equal opportunities is not enough. This year’s International Women’s Day (IWD) has adopted the tagline #EmbraceEquity. What does this mean for organisations when they are looking to recruit, recognise and retain women in the workplace?

Let’s start by understanding the difference between equity and equality. According to the IWD campaign, Equality means that individuals or groups of people are given equal opportunities or resources. Equity is when the exact same resources or opportunities are provided but there is a recognition that different individuals have unique circumstances and considering these carefully will ensure an equitable outcome.

We can see the difference below using bicycles as an example. If a group of people were provided with one bicycle each, they will have received an equal resource. However, everyone receiving the exact same bicycle isn’t practical. An equitable resource would be providing bikes of different sizes, styles and capabilities to accommodate the individual needs of each person.

Change must happen faster  

Historically, efforts have typically been focused on recruiting more women at all levels, providing development opportunities at career milestones and ensuring equal opportunities are part of D&I strategies. However, the statistics reveal that it’s still more challenging for women to progress than male counterparts. In 2022, the World Economic Forum suggested that it will take 132 years to close the gender pay gap worldwide at the current pace of change – a sobering statistic. The outlook for historically under-represented minorities (HURM) is even more uncertain. Furthermore, the cost-of-living crisis and Covid-19 pandemic have affected women disproportionately and coupled with economic turmoil, action needs to be taken swiftly and with purpose to ensure significant progress is made to create a more equitable workplace.

With these damming figures it comes as no surprise that female leaders are no longer satisfied with the status quo. According to the latest Women in the Workplace report from McKinsey, women leaders are moving roles at the highest rates ever seen – for every women promoted to a director level, two are choosing to leave. On top of this, the “broken rung” is still holding women back with only 87 women promoted to every 100 men. So if women at the top are leaving and not enough are being promoted, getting to equity is an uphill battle.

So, how can organisations move closer to gender equity? 

In the workplace, having a diverse workforce is not just the right thing to do, it’s a business imperative. The more diverse the team, the greater chance of opportunities for richer discussions, better decision-making, a stronger culture and ultimately better results.

Consider some of these recommendations to take a step closer to gender equity today:

  1. Embed representation of women in senior leadership roles into company culture to normalise diverse thinking, enhance decision making and enable role modelling. Provide everyone with the equitable mentorship, resources and development opportunities they need to thrive. This may mean the same opportunities for everyone but it may also mean that there are different initiatives for women or other under-represented groups so there are equitable growth opportunities.
  2. Create a culture across the leadership team where everyone can excel and others can follow. Enable leadership teams to have constructive dialogues around how to include all perspectives around the table and how to open up the (leadership) culture to make more room for diverse perspectives and people coming up the ladder.
  3. Avoid giving women the responsibility of representing all women. Assigning one or two people to represent a group can be a heavy burden which can only be carried for so long. By giving women the time and space to be an effective leader without the weight of expectations, other women will take note and follow suit. Consider boosting allyship initiatives where men take a more active role in promoting diversity initiatives.
  4. Re-set the care balance. Enhance company culture by encouraging everyone – regardless of gender – to take the time they need to cover caring responsibilities whilst providing refreshed policies and resources (e.g. return to work programmes) to support this culture. Normalise conversations around men taking leave to tip the balance so expectations and unconscious biases aren’t placed on women.
  5. Have a top down, bottom up and side in approach to recruitment and career progression. Solely focusing on bringing women into leadership positions is a short-term solution. A holistic approach to recruiting and recognising women at all levels will ensure there is a pipeline of future leaders being nurtured at all levels. Re-skill your workforce with equity in mind so you also preparing the workforce of the future.
  6. Celebrate women – not just because they are women but because they deserve it. Equality-based decision making can often mean that initiatives, awards, programmes, etc. are created solely for women. These are all important however singling out women can have an adverse effect so the next time you create an initiative or celebrate work well done, also highlight the leadership skills, creative thinking, inspirational role modelling so that you are also celebrating the person’s actions as well as the person themselves.
  7. Support women-led organizations. There are many respected international organizations working hard for gender equality and women’s rights such as Global Grassroots, Amnesty International and Save the Children to name but a few. There are many more Women- and Girl-Led Organizations (WGLOs) who are driving business to enact change. Take a few moments to see where you can invest your time, money or resources to make a valuable difference.

Empowering women in the global economy and closing gender gaps are key objectives to achieving the 2030 UN Agenda for Sustainable Development.  Calendar events such as IWD are not just a PR exercise. They are moment in time when everyone can pause and reflect on their own contribution towards making the world a more equitable society – one which we can all be proud of.

The views expressed in this article are those of the author(s) and not necessarily the views of FTI Consulting, its management, its subsidiaries, its affiliates, or its other professionals.©2023 FTI Consulting, Inc. All rights reserved. www.fticonsulting.com

 

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