gender DIVERSITY IS AN ECONOMIC DRIVER
It is widely acknowledged that 60% of new growth nationally and globally can be attributed to women and this increases to 80% in those places where gender balance is supported by policy or law. To date, One Day believe the compelling and increasing evidence from both gender focussed economists and mainstream financial institutions and economists has not been strategically applied or exploited. There is a great opportunity for LCR to take the lead in the UK and change the economic paradigm that systematically disadvantages women and diverse communities. In doing we would show the Uk how to deliver its full potential for overall economic prosperity and productivity for all.
Gender is now identified as an economic driver in almost all economic studies that differentiates men and women, yet gender equality within the economy is widening, not reducing, and past progress is being undermined. The national and regional focus is on economic growth but fails to recognise the exclusion of women as an economic failure. The current economic trajectory has also seen the region’s wealth owned by fewer and fewer people as part of a global trend of wealth extraction. These trends are unlikely to be reversed without radical and purposeful intervention.
Three times as many people are employed in fashion and textiles as the automotive sector.
50% of the work force in the pharmaceutical industry are women but only 10% of the leadership are women.
80% of all drugs are only tested on men and NHS England spends over 7 billion a year on those medicines. The North West manufactures up to 21% of the country’s chemicals and pharmaceuticals.
65% of women in the automotive sector report unwanted sexual advances and 25% feel unsafe at work.
Because only 16% of digital designers are women, gender and other inequalities are being built into the systems we all rely on.
Diversity and inclusion
care as an industrial contribution
Creative and Digitial
Social economy
Circular economy
Safety
Extensive evidence including The Women’s Budget Group, The World Economic Forum Report 2018 and studies by KPMG, Catalyst Report 2019, Deloitte and Goldman Sachs to name a few, all now tell us:
60+% of Uk new growth can be attributed to women and that is nearer 80% when gender balance is supported through policy or law.
Companies with the best gender representation on their boards also generate significantly higher returns and equity than those with few or no women (Catalyst 2019).
Deloitte Projects £100billion boost to the UK economy over the next 10 years can be achieved just by ‘narrowing’ the gender gap. That is £2.3billion in LCR over 10 years, or £230million every year, double what the city deal is worth.
Moving from all male to a gender balanced leadership has been shown to boost revenues by 41%.
Firms with gender balanced leadership teams are at least 15% more profitable, always outperform their peers, and are 20% less likely to go bankrupt by adding just 1 woman to the Board.
