Vijay Eswaran on Women in the Workplace

According to Vijay Eswaran, Companies that ignore their most precious assets lose their competitiveness and long-term prosperity. Vijay argues that about half of all women in the world work for a living outside of agriculture, as opposed to 77percent of men. Moreover, it claims that the job disparity has barely improved over the last two decades. Worse, the difference worsens as you move up the corporate ladder. Over the previous year, female CEOs of Fortune 500 businesses have dropped by a quarter to under 5%.

To begin with, Vijay claims that males appear to be doing very little to close the gender divide. Women are mostly leading the campaign, as was the situation with the suffragette movement at the turn of the twentieth century, which sought to grant women equal voting rights. Very little change will happen as long as men do not recognize that closing the gender divide is their obligation. It is past time for males to stand up and take the lead in addressing this issue alongside women.

Vijay Eswaran further argues that few corporate leaders appear to recognize that gender discrimination is a business priority and an ethical and human rights issue. It is the single most significant skew in the current labor market and a substantial obstacle to economic growth. It inhibits talent from reaching its full potential, resulting in systematic resource misappropriation and worsening the world economy. By 2025, it is anticipated that eliminating the gender divide will add $28 trillion to the global economy, a 26 percent gain. The payout would be equivalent to the total of the US and Chinese economies.

Vijay believes that when women attain greater financial freedom as wage workers and property owners, businesses and communities are more likely to flourish and succeed. As a moral duty and as a sensible corporate strategy, forward-thinking organizations should be searching for methods to promote women at work. Vijay Eswaran suggests that organizations with two or more women on their executive committees score better on a broad set of organizational characteristics, particularly innovation and leadership ability. Businesses with the most women in top positions had 47 percent greater returns on investments than those with none.

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