By Michelle Hendelman, Editor-in-Chief
Last fall, Booz & Company released an interesting report entitled, Empowering the Third Billion: Women and the World of Work in 2012. In this report, researchers attempt to evaluate the impact on the global economy of an estimated one billion women entering the workforce over the next ten years. By placing a value on women in the workplace, the authors of this report hope to encourage governments, business leaders, and key decision makers to invest in developing the knowledge and skills of women in order to unlock their full potential.
The authors of the Booz & Company report address one very important aspect of the problem when it comes to facilitating a career advancement path for women that leads to more leadership roles and senior level positions across all industries. They write, “Despite the admirable efforts of these women—and millions like them in rich and poor countries around the world—they need supportive systems to succeed. Governments and corporations will need to step in with smarter policies that can remove social, cultural, and professional constraints on women and foster greater economic opportunities.”
The Glass Hammer focuses on the developed world for now, so what is interesting about this research is that Booz & Company correctly identifies an issue that is rampant in the United States and Western Europe. That is, the number of women in the workforce is only the tip of the iceberg on the gender diversity issue in the workplace. The bigger question—which has been explored in research by Catalyst—is why are there so few women in executive positions in the Fortune 500?
What are the biggest issues that governments and companies must look at in order to provide meaningful support for women in the workforce? The common global challenges are as follows.
