Womenomics in Action: Global Movement
Womenomics is the concept that the economic prosperity of all genders will rise as a result of the advancement of women. As the prime minister has stated, female participation in the economy is significantly lower in Japan than in other developed countries.
In order for Womenomics to succeed elsewhere, we must first address the unique cultural and logistical issues that hold women back from participating in the workforce. In other words, it is generating jobs for women while also supporting them.
Womenomics is a major player in the future of the labour market, and thus a growing industry, because it could expand the shrinking market, substantially increase GDP, and aid society’s well-being.
In countries where women have greater economic and political power, there is a greater likelihood of women gaining promotion to company boardrooms, according to research that highlighted the limited ability of quotas to increase the power of women in business.
A new survey of 1,002 companies in 41 countries claims that women’s economic power, as measured by years of schooling and percentage of women in the labour market, is the most important factor in promoting gender equality in the boardroom.
Similar to female political power, the number of seats in parliament, as well as the rights to maternity and paternity leave, are also correlated with the number of boardroom opportunities, according to the results of the survey, which is thought to be the largest of its kind.
Only a minor role is played by boardroom quotas in various countries, including Israel, India, and Norway. Though they helped boost the number of women in leadership roles, this has not translated into extended tenure, which raises the question of a possible “revolving door”.
To further women’s empowerment, we have assembled a panel of experts to discuss the successes and challenges of corporate initiatives aimed at empowering women.
