A few days ago, International Women’s day was celebrated across the globe with full enthusiasm and marking the capacity, dedication, trustworthiness, etc that the working women class possess while doing their duties at workplace very diligently.
As well the world leaders of various investment firms, financial institutions have now pronounced on highlighting the core strength and the value they possess in getting gender diversity in the finance sector.
This may be a tad debatable point on providing equal gender diversity, but, according to a recent survey and report done by Bank of America, through drawing gender parity at the workplace, there is a significant economic potential that could boost up global economy by 31 percentage within 2025. This surge is equivalent to the GDP’s of the two largest economies USA and China.
As per the words quoted by Anne Tolmunen, manager of the AXA WF Framlington Women Empowerment fund, “The gender diversity can be improved if there is a change in perception and that it is not taken as an issue as well as it depends on their abilities and the ability of investors to explain benefits they could bring forward if provided with better opportunities.”
It has been proven by the expertise that with greater parity and a higher number of women in core leadership positions have following added advantages on the team and overall organizational environment and they are: –
• Core participation amongst the groups and increased cognitive and aptitude skills.
• Retention of best talents, best in class communication channels, skill sets, and subsets increase, etc.
• Alignment with the clients and better turnaround with maximum client satisfaction.
• Enhancing the Brand Reputation and overall image of the organization.
• Better positivity and positive environment prevailing within the organization and achieving best in class standards for the organization despite competitiveness.
• Achieving better profitability adjusted with risk and benefits all employees at one go.
• It is also highly recommendable from a societal point of view as it can drive the expansion of household wealth and disposable income levels, benefiting both households and companies.
• With the inclusion of women power and drawing gender parity, consumers have more purchasing power and ease in getting more national tax revenues.
According to words quoted in by Tali Salomon, director of eToro for Spain and Latam, “There are many areas of society in which women power could do wonders, but there is a one such sector financial asset maintenance, wherein the empowerment will come from within.” By 2020, according to Boston Consulting Group, women would have total equity of 54 million pounds sterling. BCG owns globally two-thirds of the total assets.
Carole Millet, the Senior Investment Advisor of SYZ AM, stated that “Even today exists the gender discrimination and that men and women of her calibre are holding most of the crucial leadership roles still have had to demonstrate, sometimes even prove her greater capabilities to progress before her male counterparts.”
She also adds that despite the Women power have better cognitive, imagination, thinking ability, mental strength, authoritative skills, participative skills then Man counterparts, they are still deprived of crucial leadership roles and assignments in the male-dominated world, companies.
She also adds up that “In recent years although she has seen a profound transformation in the integration and recognition of women in the industry, there is still a long way to go.”