Equality Pays Off
To ensure its success, every company needs to recruit skilled employees. Especially in times when businesses are challenged by a lack of well trained workers, they need to seize every opportunity to uncover hidden labour market potential.
This is the reason for launching the "Equality Pays Off" initiative. The aim is to help companies achieve sustainable business success by gaining access to untapped female talent.
In total, 34 countries are targeted by the "Equality Pays Off" initiative.
- The European population is shrinking and ageing. The result is a decrease in the number of suitably qualified people available on the job market.
- In a globalised economy, Europe needs high-quality products and services to keep ahead of its competitors. At the same time, businesses face the challenge of ever more complex technologies.
Companies must broaden their employee base. Making better use of the female talent pool is a promising approach. Statistics have repeatedly shown that the labour force potential of women is not being adequately utilised:
- Only 59% of women participate in the labour market as opposed to 70% of men (see: Eurostat, 2011).
- 32% of women work part-time compared to 8% of men (see: Eurostat, 2011).
- More than six million women in the European Union state that they cannot work full-time due to family responsibilities (see: European Foundation for the Improvement of Living and Working Conditions, Family life and work, 2010, p. 3).
- Only 16% of board seats at Europe’s largest companies are filled by women (see: European Commission, Database on women and men in decision making, 01/2013).
- On average, women earn 16% less than men (see: Eurostat, 2011).
- Although women are more likely to have a qualification in tertiary education – 25% of women compared to 23% of men – on average, they earn less than men and are less represented in management positions (see: Eurostat, 2011).
For more information please see the report Women in economic decision-making in the EU: Progress report , and the Report on progress on equality between women and men in 2012 . Statistics regarding women in decision-making can be found in the European Commission's database and on the website of Eurostat.
Review: Business Forum 2013
Equality Pays Off Update
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