Parity: a right and an economic imperative

“Gender equality is not only a fundamental right, but also an economic imperative”. The dossier that the International Monetary Fund published in June 2023 on trade, development and equality between women and men begins with this observation. The results of various research studies published by the IMF show how, from an economic point of view, it makes sense for society to make the most of the skills and labor of the entire population, not just half of it. In economic terms, it also makes common sense for men and women to receive commensurate benefits.

Beyond purely economic precepts, other studies show that gender parity in companies contributes to the development of innovation and creativity. It provides greater adaptation to change with the incorporation of new perspectives that improve the attractiveness of technological products and services. In turn, it broadens the reach to diverse audiences, such as the LGBTQ+ community or ethnic minorities.

In terms of innovation, a study by the Basque Business Development Agency (SPRI) on the impact of women on industrial competitiveness concludes that more egalitarian companies show better results in terms of turnover and employment, R&D&I and internationalization.

The latest report of the World Economic Forum points in the same direction. It states that promoting policies and concrete actions towards parity directly aims at eliminating the huge gap in the presence of women in different industries and even more in technology. Ensuring that it exists structurally in an organization, directly encourages a change to accelerate a process of equality that could take more than 132 years organically.

The Impact of Women in Industrial Competitiveness study suggests that gender diversity can lead to greater innovation and networking opportunities for companies. In addition, the report notes that more egalitarian companies achieve better turnover and employment outcomes. This could be due to a more diverse and inclusive work culture that attracts and retains talented employees. Overall, encouraging gender equality in the workplace can generate several benefits for companies and the quality of life of their employees.