ILO’S REPORT ON WOMEN LABOUR FORCE
What’s in news?
The recent ILO report says that, Increased participation of women in workforce will lead to better outcomes.
- The International Labour Organization (ILO) recently released its second global report, titled Women in Business and Management: The business case for change.
- After surveying around 13,000 enterprises in 70 countries, the report says that “a critical mass of 30 per cent women” is need by the enterprises “in order to reap the benefits of gender diversity”.
- The report highlights that almost half of the surveyed enterprises reported women holding less than 30 per cent of entry-level management positions.
- enterprises with gender-inclusive cultures are over 60 per cent more likely to have improved profits and productivity.
- Highlighting the gaps in the labour market, across the world, men are still more likely to participate in the labour market than women.
- The average global labour force participation rate of women in 2018 stood at 48.5 per cent, while that of men was 75 per cent. This equates to a 26.5 percentage point gender gap in labour force participation.
- In Asia and the Pacific, the average female labour force participation rate has declined from 52.9 in 1991 to 45.3 per cent in 2018, dropping by 7.6 percentage points.
- If the global gender gap in labour market participation is closed by 25 per cent by 2025, an additional $5.3 trillion would be added to GDP globally, according to the recent study by World Economic Forum.
- In an era of skill shortages, women represent a formidable talent pool that companies aren’t making enough of.
- Smart companies who want to be successful in the global economy should make genuine gender diversity a key ingredient of their business strategy.
- Representative business organizations and employer and business membership organizations must take a lead, promoting both effective policies and genuine implementation.
International Labour Organization:
- The International Labour Organization (ILO) was founded in 1919, its Constitution forming part of the Treaty of Versailles. The ILO became the first specialised agency of the UN in 1946.
- The ILO is the only ‘tripartite’ UN agency. It brings together representatives of governments, employers and workers to jointly shape policies and programmes.
- This unique arrangement gives the ILO an edge in incorporating ‘real world’ knowledge about employment and work.
- Its main aims are to:
- Promote rights at work
- Encourage decent employment opportunities
- Enhance social protection
- Strengthen dialogue in handling work-related issues.