Gender inequality limits opportunities for women, hinders innovation
By Odunayo Tajudeen
The economic inequalities that women face are not just a matter of numbers but of equity. Despite the strides made in gender equality, women around the world continue to face significant barriers to accessing opportunities, resources, and benefits in the workplace.
Women continue to face myriad challenges in the workplace, including pay gaps, lack of access to opportunities, and discrimination. These inequalities harm not only women but also impact families, communities, and the broader economy.
According to the World Economic Forum’s Global Gender Gap Report 2021, it will take 135.6 years to close the global gender pay gap. This means that women still earn less than men for doing the same job. In developing countries, the pay gap is even wider, with women earning only 70 percent of what men earn on average. According to Market Insight, “Africa’s formal workforce is 70% men compared to 30% women. At the start of formal employment, for those earning $300 to $1,200, the gender distribution is 30:70 in favour of men. At the level of high-income roles, those earning above $3,000, the split is 75% men and 25% women.”
Women are also underrepresented in senior management and executives roles and have limited access to leadership positions. According to a study by Catalyst, women hold only 29 percent of senior management positions globally. Because of this lack of representation women are excluded from decision-making, and miss out on opportunities for growth and development while the economy misses out on the benefits of diverse leadership.
Furthermore, women face challenges balancing work and family responsibilities. The burden of care-giving often falls on women and this reduces their opportunities to participate in the formal workforce, resulting in missed opportunities and fewer promotions. As a result, the gender pay gap widens over time.
To address this economic inequality for women in Nigeria, there must be a concerted effort to promote gender equity in the workplace. This includes measures such as pay transparency, equal pay for equal work, and policies that support work-life balance, such as paid parental leave and flexible work arrangements. Companies, including players in the marketing communication space must also work to eliminate systemic biases and barriers to promotion and advancement as well as prioritize diversity and inclusion in all aspects of their operations.
Addressing economic inequalities for women is not only critical for justice and equity, but also for the economy and society as a whole. By taking actions to promote gender equity, policymakers and business leaders can create a more inclusive and prosperous future for all.
RECOMMENDED ARTICLES
Comment
No comments found.