Businesses that demonstrate an obligation to gender diversity tend to attract and retain better talent. Recently more companies have acknowledged gender diversity as one of top priorities and taking precaution to bridge the gender gap in the workplace. However, the earnestness to close the gender gap isn’t always mirrored in the companies’ culture and policies, and companies must contemplate on ways regarding how to eradicate the existing gender inequality in the organization. Also, gender gap in leadership has become a common aspect of corporate sector as we are envisaging fewer women ascending executive positions within the company. Affecting the job satisfaction of the employees and their loyalty to the company, businesses need to find out the causes of gender inequality in the workplace and work towards completely uprooting this gap as it will affect the overall functioning of the businesses.
Read on to find more about why businesses need to bridge gender gap within their organization.
The existing gender gap in the company policies will have a direct impact the trust, performance and morale of the employees. The gender gap will affect the mindset and perception of the employees towards their profession, colleagues, work environment, managers, and organization. Not only the gender biases affect the workplace in multiple ways, it demotivates the young women working for the company. Apart from that, this inequality will also enable them to feel less pleased to work for an employer who believes in gender pay gap.
According to a recent survey, companies having at least 30% of women in senior management profile tend to drive a 15% more profit for the organization. But due to some reasons, female employees who are considered ‘top performers’ at work, often deprived of promotion than their male counterparts despite similar experience levels and expertise.
It is quite natural that, employees who feel important and impartially compensated are more contented and tend to be more devoted to their work. If a female worker feels unappreciated because of the inequalities in the salary structure, then she is most likely to underachieve. Affecting the productiveness of a single employee, this bias due to gender inequality will hamper the entire productivity of the organization in the long run.
When employees become aware about the existing gender inequality, it will negatively impact on employee retention. If a female employee is paid less than her male counterparts for similar work, she will definitely consider other service prospects with a better salary structure if she. Finding apt talent for your organization who are equipped with all the necessary skillsets can be challenging job for organization and things will get more complicated if the company has a reputation of promoting gender inequality. To avoid wastage of your financial and talent resources, organizations should take strong stand again gender gaps.
Apart from being a social or legal issue, gender gap can severely hamper the brand image of the organization due to the inequality it practices in the workplace. Gender inequality has always been a highlighted in the media, to promote equality across the corporate sector. If a case of gender inequality in the workplace can go viral, it can bring disastrous results the branding and reputation of the organization
Bad reputation will not only hamper the brand of the organization, but it will also act as a hinderance to attract potential talents in the future and disturb the product sales as well as the revenue of the company in the long run.