Table of Contents
Benefits of Promoting Gender Diversity, Inclusion & Equity in Your Company
Broader Talent Pool, Diversity of Thought & Balanced Product DevelopmentThink of it this way: if your SME company don’t encourage women to be part of your team, then you are missing out on the exceptional skills, strengths, experiences and talents of, let’s say, half the population. Therefore, you must ensure a diverse and healthy ratio of talents to join your organisation so you can bring a greater range of creativity, fresh ideas and different perspectives to the table that will equip your business to reach its full potential. Let’s say; for instance, you are a forward-thinking tech company that welcomes women on board—then it’s a good thing because this means you can tap on all members of your target market and understand their specific pain points, including the women demographic. Having women in your tech team can help you design more balanced products.
Enhanced Staff RetentionSee to it that your employees are equally represented in the workplace. Doing so will make them feel more included and valued, promoting a sense of belonging and motivation to stay with your business. And you know what that means—having a lower employee turnover rate can save you a ton of time and resources in recruiting and training new hires.
Greater ProfitabilityAccording to studies enforcing diversity and inclusion in your business can positively impact your bottom line. In fact, a report from McKinsey in 2014 shows that the most gender-diverse companies are 15% more likely to experience above-average profitability. Thus, the statistic rose to 21% in 2017. Another one is a study by MSCI stating that having women on board results in higher business productivity growth.
Brand ReputationRemember that a business committed to equal opportunity and diversity will be more attractive to prospective employees and customers. Hence, good reviews and feedback will help you gain a positive reputation in the market.
Fixing the Gap: Ways You Can Do To Foster Gender Diversity, Inclusion & Equity in Your Company
Be Informed & Take ActionAs business owners and leaders, it’s essential to stay informed on the issues surrounding gender diversity and inclusion. Researching these topics will allow you to understand how they can affect your company and your employees and what meaningful steps you can take to create an equitable work environment that celebrates all genders equally, ensuring everyone at your organisation is treated fairly and with respect.
Practice Fair Promotion and Equal PayMake it a habit to review your employee promotion policies and pay scales. These guidelines can help:
- What are the criteria for your staff getting promoted?
- Does everyone in your company have access to the same resources and opportunities that can help them with their career progression?
- Are you biased towards a particular gender when it comes to promotion?
- Are the managerial roles in your company based on merit rather than gender?
- Are you making sure that employees who perform similar work in your company are paid fairly regardless of their gender?
Acknowledge the Salient Role of Women in Tech & InnovationThere’s nothing wrong if a female talent wants to pursue a career in STEM (Science, Technology, Engineering and Mathematics). Time and again, many women have made it in the tech field despite unfair treatment. So let’s continue to remove the unconscious bias, fight gender stigma and acknowledge the value of women in tech and innovation. Recruitment, involvement, retention and promotion of women in tech roles should be implemented and normalised to help restore balance and speed up innovation.
Celebrate The International Women’s Month: The Moolahmore WayFor a long time, Moolahmore has always been passionate about supporting the equal representation of women, especially in the corporate world and tech industry and eliminating all forms of bias and discrimination worldwide through our company culture, products and services. Everyone, including YOU, deserves access to equal resources and the same opportunity to benefit from the power of modern technology, such as an advanced financial tool Moolahmore that can help you be more empowered in managing your finances and making well-informed decisions for your business’s long-term innovation and success! So grab this moment to enjoy Moolahmore app’s top-tier features such as:
- Unlimited Companies
- High-level reporting and detailed cash flow analytics
- Flexible date range cash flow analysis
- Real-time financial forecasts
- Multi-currency conversion
- Scenario builders – what-if scenarios
- Transaction editors
- Compare cash flow scenarios
- Cash only report
- Access on IoS and Android mobile devices
- Multi-company cash flow consolidation
- Integration on multiple accounting software (XERO, MYOB and Quickbooks)
- World-class multichannel customer support
- App availability on both desktop and mobile