During the last thirty years society has witnessed major advances in terms of female participation in the labour market. As a matter of fact, in Latin America and the Caribbean the current rate is 51.1% – above the global average of 48.5%-. This trend can also be observed in regional and national training levels. In Argentina, official statistics show that there are more women than men graduating from secondary school, and that 60% of university graduates are female.

Nevertheless, there is a growing concern as this better female academic performance is not reflected in an equivalent participation rate in the labour market. Neither does it reflect in executive positions or boards of directors.

A survey developed by McKinsey Global & Company among 345 companies in six countries in Latin America has shown that companies that have a larger share of women in their boards beat those where boards only include men. Actually, capital profit is 44% higher and profit margins are 47% higher.

Moreover, countries also benefit from this situation. If women had the same participation level than men in the economy, the potential thrive for the global economy would be USD 28 trillion. In other words, 26% of the global annual GDP. In Latin America, the potential thrive for the GDP would be USD 2.6 trillion, or +34% of the regional annual GDP. And in Argentina, it would be 12%.

Both, in the individual and collective level, women are better prepared not only to access the labour market, but also to develop a professional career. However, they still face difficulties to access the labour market and reach leadership roles. How can this situation be solved? One option is to understand that gender equality is a good deal.

Having this goal in mind, UN Women, the International Labour Organization, and the European Union have implemented the Program Win-Win “Gender Equality Means Good Business”. It is an initiative that is being implemented in six countries in Latin America and the Caribbean, including Argentina.

For the International Labour Organization, which in 2019 will turn 100 years of hard work, female economic empowerment and gender equality reflect the synergy and commitment of governments, unions and employers to design and implement policies that guarantee decent work and social justice for the whole society.

María Victoria Giulietti: Regional ILO Coordinator of the Program Win-Win

Source: Pagina 12

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