Women comprise the majority of world’s population, are heads of households, have outpaced their male peers in educational attainment and contribute to the social and economic wellbeing of their families, communities, and countries.
Yet, for all of these advances, women in leadership position are still a minority. According to the latest estimates, women comprise just 20.2 percent of corporate board members of Fortune 500 companies, representing a slight increase over previous years. And just 4.8 percent of Fortune 500 companies are headed by female CEOs. In terms of political leadership, the United Nations estimates that women hold just 22 percent of parliament seats globally. Currently, there are 10 female heads of state and 14 heads of government among the 195 UN member states. Finally, women hold only 17 percent of posts globally at the ministerial level, mainly in the education and health sectors.
Much has been written about how women could overcome the myriad of obstacles that stand in their way to personal and professional success. Whether it’s to take a seat at the table, find a mentor, or a sponsor and lean-in, these techniques fall short of naming the real reason women are shut out of professional opportunities in many societies.
The simple answer is that women must work within the confines of rules and regulations that were institutionalized without their input. When women have agency in their personal and professional lives, they have the ability to change norms, rules and regulations and to fully participate in decision-making processes in the government, public and private sectors.
Inclusive and participatory decision-making is at the heart of democratic governance and yields better social, political and economic outcomes. Economic empowerment is one of the most important means of attaining global gender parity and should be a central point of discussion. When women become breadwinners, they have real decision-making power within their families and communities. Women’s entrepreneurship and participation in the workforce are avenues for their political participation and ability to influence how rules are made and laws passed.
Research shows that women’s political participation and economic empowerment holds numerous benefits, including a strong business case. For instance, increasing female labor force participation rates yields broad-based economic growth. In fact, large gaps between the labor force participation rates among men and women inhibit economic growth and development outcomes. As women earn a larger share of household income, their families and communities are better off because spending is focused on improving the wellbeing of their children. Women invest their money in the health and education of the next generation.
Most interestingly, McKinsey research shows that organizations with more women in leadership positions experience 34 percent higher profits than organizations with an all-male leadership team. Companies that promote and retain skilled female employees enjoy “enhanced reputation and stronger brand.” Finally, research shows that greater diversity of perspectives in company leadership leads to better outcomes, including higher rates of “creativity and innovation,” and higher profits because of the unique skills and perspective women bring to the table.
The international community has recognized the importance of gender equality and the political, economic, and human rights of women as an integral part of development. The United Nations has passed a number of resolutions that affirm the rights of women and girls. The Convention on the Elimination of Discrimination Against Women (CEDAW) was passed in 1979 and contains 30 articles, which outline a plan to end gender-based discrimination. Signatories to CEDAW agree to eliminate discriminatory legislation and to guarantee the political, legal and social rights of their female citizens. Ratifying states are legally obligated to enforce the convention provisions.
The United Nations Security Council also passed resolution 1325, which affirms women’s participation in the “prevention and resolution of conflicts, peace negotiations, peace-building, peacekeeping, humanitarian response and in post-conflict reconstruction.” Resolution 1325 pays special attention to the prevention of gender-based violence in war. Subsequent Security Council Resolutions focus on the implementation and enforcement of resolution 1325.
The passage of resolution 1325 and CEDAW matters because it elevates the importance of women’s rights at the international level, outlines specific national priorities that states have to enforce, and holds governments accountable on the implementation of their commitments. More importantly, the United Nations identifies gender equality as an integral part of the Sustainable Development Goals (SDGs), which will replace the Millennium Development Goals and guide post-2015 global development outcomes.
As we celebrate International Women’s Day, it is worth remembering the importance of fighting for women’s economic, political, and social rights not only because it is the right thing to do, but because gender equality yields better outcomes for families, communities and entire countries.
Teodora Mihaylova is Research Coordinator at CIPE.
