Having more women on boards and in senior leadership positions can lead to better company performance, greater productivity and greater profitability, according to the latest report by the Bankwest Curtin Economics Centre and the Workplace Gender Equality Agency.
The research found that increasing women’s representation by 10 percentage points or more on the boards of Australian ASX-listed companies led to a 4.9 per cent increase in the company market value, worth the equivalent of AUD$78.5 million.
The research also revealed that companies with more women on boards are less likely to be involved in fraudulent behaviour and more likely to be socially responsible.
It provides tangible proof to support the established international business case for workplace gender equality.
The report surmised that efforts by organisations to reduce the gender pay gap must be permanent and regular occurrences, and be based on strong leadership, ambitious targets and embedded good practice.
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