Womenomics in Action: Global Movement
Womenomics is the idea that women’s economic advancement will improve the economy as a whole. Prime Minister Abe has announced it as one of the top priorities of his administration, recognizing that female participation in the economy is relatively low in Japan compared to other developed countries.
If Womenomics is to succeed in Japan and elsewhere, we must first recognize the cultural and logistical reasons behind low rates of female labor participation. This means creating both job opportunities and support for female workers.
Womenomics is a powerful force, which could expand a shrinking labor market, significantly increase GDP and contribute to the health and wellbeing of society.
Women are more likely to be promoted to company boardrooms in countries where they hold greater economic and political power, according to research that highlighted the limited ability of quotas to give women more sway in business.
Women’s economic power, as measured by years of schooling and percentage of women in the labor market, is the most important factor in ensuring greater gender equality in the boardroom, according to a survey of 1,002 companies in 41 countries.
Female political power, as measured by the number of MPs, as well as rights to maternity and paternity leave, also strongly corresponded to opportunities in the boardroom, the survey, believed to be the biggest of its kind, found.
The report found that boardroom quotas – as adopted in countries from Norway to Israel and India – played a limited role. While they helped get women into boardrooms, they did not translate into long tenures, raising the issue of a potential “revolving door”.
With the movement for women’s equality in the workplace in full swing, we bring together a panel of experts to examine the successes and challenges of corporate initiatives with the intent of fostering women’s empowerment and engagement across world.
