March 5, 2022
Unless we actually back women in business, then we’re going to be losing out on a huge amount of potential extra economic activity and prosperity, that all of our communities really need.
— UK shadow secretary for women and equalities, Anneliese Dodds
The gist:
With evidence revealing companies with more female leaders outperform those dominated by men, according to House of Commons research, the shadow secretary for women and equalities, Anneliese Dodds, said the data “showed women held the key to a stronger economy, but they were being held back by a lack of investment and the risk of “childcare deserts.”
The Stats:
- To mark International Women’s Day, which is on Tuesday, Labour have collated data from the House of Commons library. It cited McKinsey research that shows companies in the top quartile for gender diversity on executive teams were 25% more likely to have above-average profitability than companies in the bottom
- Companies with more than 30% female executives were more likely to outperform companies that don’t, according to research from academics from the Universities of Glasgow and Leicester.
Dodds said “Labour would create 100,000 government-backed start-ups with a ‘equal recovery pledge’ ensuring female representation, strengthen the pay gap reporting system and give a ‘new deal’ for working women.
Connect with the Guardian post here.
