In an ideal world, women and men would have equal opportunities and outcomes in the workplace. Women would be able to access any job they desire, earn the same pay as their male counterparts for equivalent work, and hold influential positions across industries. Unfortunately, the reality is far from this vision.

Despite years of efforts, the global gender gap persists, hindering progress toward gender equality in the workforce. The World Economic Forum's Global Gender Gap Report 2023 predicts that it will take a staggering 131 years to achieve full gender parity at the current rate of progress. The COVID-19 pandemic further exacerbates this issue, impacting women's economic opportunities and empowerment negatively.

Gender Gap in the Workforce

Gender disparities in the workforce are evident and detrimental on multiple fronts. Women face numerous barriers, such as discrimination, stereotypes, unpaid care work, violence, lack of education, skills, and unequal pay. According to the Global Gender Gap Report 2023, only 64% of the global labor-force participation gap between women and men has been closed, and women earn on average just 64% of what men earn for similar work. Furthermore, women's representation in leadership roles is disappointingly low, with only 27% holding managerial positions and a mere 18% serving on boards globally.

The existence of gender gaps has serious effects on both the economic security and well-being of women, as well as the economy as a whole. According to McKinsey, taking steps to promote gender equality could result in an astounding $12 trillion increase in global GDP by 2025. However, if these gaps remain unaddressed, it could result in significant decreases in productivity, competitiveness, and social harmony.

Driving Change through DEI Programs

Diversity, Equity, and Inclusion (DEI) programs are pivotal in transforming workplaces into environments where all employees, regardless of gender, feel valued, respected, and empowered. Several impactful DEI initiatives are leading the charge toward gender equality in the workplace.

The Gender Equality Seal Certification Programme, spearheaded by UN Women, is a commendable global initiative that recognizes and rewards organizations committed to promoting gender equality. Operating in 18 countries, including Brazil, India, Mexico, Morocco, and South Africa, this program assesses and improves gender equality performance in areas such as wages, leadership, training, and work-life balance. With over 1.7 million workers benefiting from this program, it has contributed significantly to narrowing gender gaps and fostering a more inclusive work environment.

The Women's Empowerment Principles (WEPs) provide a comprehensive framework for businesses to authorize women across the workplace, marketplace, and community. Supported by UN Women and the UN Global Compact, the WEPs have gained endorsement from over 4,000 CEOs worldwide. Guiding businesses in areas such as corporate leadership, human rights, health and safety, education, and community engagement, the WEPs are an essential tool in advancing gender equality and women's empowerment.

The HeForShe movement, initiated by UN Women, is a powerful call to action for men and boys to actively participate in the fight for gender equality. With over 2.5 million men and boys committed to gender equality, and partnering with numerous companies and governments, this global movement is creating tangible change. By engaging men as allies, HeForShe reinforces the notion that achieving gender parity is a collective responsibility.

Additionally, the Women in Cloud initiative, supported by industry giants like Microsoft, Accenture, Hewlett Packard Enterprise, and IBM, empowers female tech entrepreneurs by providing them with access to cloud computing resources, networks, and capital. This community-led economic development initiative has been instrumental in generating over $150 million in economic value and facilitating cloud-based solutions that drive social impact.

Closing the Gender Gap Accelerators

The Closing the Gender Gap Accelerators are groundbreaking public-private collaborations designed to address gender disparities in the labor force and promote women's economic empowerment. Spearheaded by the World Economic Forum, these accelerators have been launched in various countries, including Argentina, Chile, Colombia, Costa Rica, Dominican Republic, Egypt, France, Japan, and Panama.

In Japan, the accelerator program successfully increased women's labor-force participation by an impressive 3.5%, helping to bridge the gender gap in the workplace. In Chile, the initiative yielded tangible results by reducing the gender pay gap by 5%, paving the way for fairer compensation for women. In Egypt, the accelerator achieved a significant milestone, witnessing a 6% rise in women's representation in senior management, ensuring women's voices and leadership are heard at the highest levels.

These accelerators represent a promising approach to closing gender gaps, as they target key areas such as labor-force participation, wage parity, and leadership opportunities. By fostering collaboration between governments, businesses, and civil society, these programs can enact meaningful change and bring us closer to achieving true gender equality in the workforce.

Closing the gender gaps in the workforce is not just a moral imperative but a strategic opportunity for businesses and economies to thrive in the post-pandemic era. Effective DEI programs aligned with best practices and evidence-based solutions can pave the way for inclusive, resilient, and prosperous workplaces. Governments, businesses, and society must join hands to make the dream of a world where women and men have equal opportunities and outcomes a lived reality. By embracing diversity, equity, and inclusion, we can create workplaces that empower and support women, and, in turn, lead to a more equitable and prosperous world for all.