‘Lack of progress’: Blokey industries getting worse on gender-balance numbers
Industries famous for exclusively promoting men and discouraging women from even entering entry-level jobs are actually going backwards in their quest for gender balance.
A report released Tuesday by the government’s Agency for Gender Equality in the Workplace reveals that traditionally masculine industries are deteriorating.
“Despite encouraging signs of progress in some sectors, Australia’s industrial landscape remains highly segregated,” the latest gender equality forecast report states.
“Male-dominated industries (for example, construction, mining, transport and manufacturing) support some of the lowest shares of the gender-balanced workforce, yet there is evidence in this year’s report not only of a lack of progress, but also of jobs and industries lagging further behind.”
The gender equality body focuses on designing apprenticeship and recruitment campaigns to attract women into technical and commercial roles, and promoting female role models as a solution.
“Left unchallenged, this ongoing gender discrimination will continue to challenge Australia’s social rights
The report finds that national strategic targets for gender equality in the workforce are exacerbating our skills shortages and constraining productivity.
The Workplace Gender Equality Agency report, produced in conjunction with Bankwest Curtin Economic Centre, reveals that having equal numbers of men and women in leadership roles could increase a company’s value by $100 million.
The research reveals that companies with at least 40 per cent women in leadership roles are more profitable, resulting in higher company value, and women now hold almost four in 10 seats on boards at ASX companies.
However, women only serve as managers and chief executives in 25 percent of these companies.
The analysis reveals that the difference in corporate value between companies at both ends of the scale is approximately $93 million when standardized for a $1 billion company; There are 368 companies valued at more than $1 billion on the Australian Securities Exchange.
Workplace Gender Equality Agency chief executive Mary Wooldridge said clear evidence showed the benefits of balanced leadership groups.
“The evidence is clear that gender-balanced leadership teams not only support women, but also deliver stronger results by encouraging better decision-making, innovation and the capacity to overcome challenges,” Ms Wooldridge said.
“This research points to the benefits that will accrue to employers who choose to incorporate gender equality into their business strategies.”
Service industries, arts and entertainment, and finance show significant gains towards gender balance, but only 27 percent of employers have gender-balanced workforces.
Report author Alan Duncan said companies that made the effort were reaping the rewards.
“Gender balance is not just a matter of fairness, it is also a sound fiscal strategy,” Professor Duncan said.
“Organizations that invest in equity strategies not only close wage gaps but also create stronger, more resilient workforces.
“In contrast, those who fail to act will continue to lose their talents and leadership lines will be eroded.”
