ONLINE hotel booking portal, Jovago. Com has aligned with the thoughts of the International Monetary Fund, IMF that eliminating employment gender could boost gross domestic product of countries by five per cent.
Reacting to the recent call by the President of IMF, Christine Lagarde on gender elimination, Head of Human Resources at Jovago.com, Hilda Ato, said, “I think women in the global market at large need to be given the opportunity to become bigger decision makers.
The IMF leader had identified the greater participation of women in corporate leadership positions as key to unlocking the Nigeria's economic future.
Ato said that at Jovago, “we have come to find that once we focus on productivity, things like gender become insignificant and efficiency increases. If you look around we have more women than men working with us.”
Making reference to a recent study by the University of Leeds, she said that higher stock market activities were recorded where there were larger proportions of women on senior management teams.
While calling for a shift in corporate cultures, observed that another study found that businesses with a greater proportion of women on their boards outperformed rivals in terms of returns on invested capital, 66 per cent higher, returns on equity, 53 per cent higher, and sales, 42 per cent higher.
The President of the IMF said, “Empowering women is not just about fairness it also has macroeconomic benefits. For example, eliminating employment gender gaps could boost GDP by 5 per cent.”
While Nigeria struggles to overcome its economic issues, stakeholders are of the opinion that inadequate adoption of equal gender opportunities may be a factor hindering higher revenue growth and holistic operational processes in the nation's corporate sector.
According to a report released by the African Development Bank, AfDB, a third of African companies in its study have boards without a single woman on them.
As experts around the world seek government interventions in making the business environment more female-inclusive, pundits state that the enactment of policies which ensure 20-40 per cent participation of women at the executive levels of organizations holds the key to profitability.
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