Businesswoman and investor Donna Rachelson says that mindset change is as important as structural change if corporate South Africa wishes to achieve gender parity.
If companies continue to hire and promote women at current rates, the number of women in management will increase by just 1% over the next 10 years.
This is according to a recent study published by McKinsey in the USA.
However, if companies start hiring and promoting women and men to manage at equal rates over the next 10 years, parity in management will be more equitable with 48% women and 52% men in top jobs.
Rachelson is the CEO - Branding & Marketing YOU and the author of the book Play to Win: What Women can Learn from Men in Business.
She says aside from the inadequate recruitment and promotion of women in South Africa, she says businesses need to deal with more subtle factors such as unconscious bias, microaggressions and company culture.
Rachelson cites another McKinsey report that found that companies with at least 30% of women representation in senior management showed an increase of 15% in profitability.
She advises that men have an important role to play in creating inclusive cultures in the workplace.
Companies that have more women executive on their board or in senior positions are more profitable.— Donna Rachelson, CEO - Branding & Marketing YOU
Gender diversity is a business imperative. It's not a nice-to-have.— Donna Rachelson, CEO - Branding & Marketing YOU
Research tells us that in South Africa, for every 8 months that a male works, a female in the exact same position has to work the equivalent of a year.— Donna Rachelson, CEO - Branding & Marketing YOU
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This article first appeared on CapeTalk : Gender diversity is a business imperative. It's not a nice-to-have - CEO