Description:

The Gender Equality Project is a Foundation that works in partnership with the World Economic Forum to help create a world where men and women are equally valued and respected in all aspects of economic, political and social life. The Project receives advice from a Scientific and Academic Council consisting of high profile professors/researchers and a strategic Advisory Council.

Further information:

http://genderequalityproject.org/

Dilemma: Workplace gaps in opportunities between the genders

The Foundation believes that a society can only be prosperous and sustainable if women and men are granted equal rights, responsibilities and opportunities. Likewise, companies can gain crucial competitive benefits if they manage gender diversity effectively. Under the right conditions, providing equal opportunities to women and men can enable companies to:

• Benefit from the widest possible pool of talent
• Build and consolidate a good reputation in the marketplace
• Improve their competitiveness and financial performance

Despite this, there is often a significant gap in opportunity between women and men in a wide range of workplaces.

Good practice: The Diversity and Inclusion programme

The Foundation aims to close this gap by encouraging corporations to foster equal opportunities through a global gender equality label. Certification to this label will be based on a comprehensive assessment methodology that enables global companies to measure success in achieving gender equality. This methodology focuses not only on outcomes, but also on the policies and practices that foster sustainable gender equality within a company in each of the following five areas:

These specific areas have been chosen for the following reasons:

• Equal Pay for Equivalent Work: Correcting salary discrimination increases opportunities for women and benefits companies as they can better attract and retain talent and eliminate reputational risks and litigation.
• Recruitment and Promotion: These processes are crucial to enter the labour market, gain access to authority, and rise to managerial and executive positions.
• Training and Mentoring: These programs are a key resource for professional success and career advancement, ensuring access to information and additional skill-building.
• Work-Life Balance: Research links policies promoting work-life balance to reduced absenteeism, enhanced productivity, and increased ability to recruit and retain talent that may otherwise be lost among women and men with family responsibilities.
• Company Culture: Organisational culture that values gender equality and actively fosters a work environment of equal opportunities is vital to implementing the above and to overcoming gender stereotypes and sexual harassment.

Results: Pilot phase application of methodology on high performing companies

In 2010, the Foundation will work with 10 multinational companies from different regions and industries that have reached successful outcomes in terms of gender equality and are committed to being the first to apply the assessment methodology.

Together with these 10 companies, the Foundation will refine the methodology and ensure it reflects proven good practice and meets companies' expectations as to the resources that can be dedicated to the assessment process. The pilot phase will also provide an initial understanding of potential variations in outcomes and practices across regions and industries. Once the pilot is completed, further results will be published.