The Role of Gender Diversity in Securing the Future of African Businesses

News

How J.C. Penney Is Trying To Make A Comeback

As of April 2020, J.C. Penney saw its shares trading well below $1, and it has long been in danger of being delisted by the New York Stock Exchange. The fate of the company now rests in the hands of its new CEO, Jill Soltau, who took the reins in Oct

How Zoom Rose To The Top During Social Distancing

Zoom has gained an incredible amount of popularity, but that popularity comes at a cost. The company is under intense scrutiny now that hundreds of millions of people are using the platform. But Zoom is in the game for the long haul, if it can surviv

Expo 2020: Dubai as a springboard for doing business in Africa

Dubai based Phanes Group is an end-to-end solar power provider operating across Africa, the Middle East, Central Asia and the Commonwealth of Independent States. CEO Martin Haupts says the Phanes Group is a truly Dubai home-grown company. CNBC Africa's Chris Bishop caught up with him in Dubai and asked how Dubai is serving as a springboard for the company and their work in Africa.

Content provided by The African Media Agency. CNBC Africa provides content from The African Media Agency as a service to its readers but does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by The African Media Agency.

 

JOHANNESBURG, South Africa, 15 March 2019,-/African Media Agency (AMA)/-In line with this year’s theme for International Women’s Day, “Balance for Better,” global human resources consulting firm, Mercer is committed to creating a balanced approach that caters to the health, wealth and careers of both male and female employees.

 

Gender balance is essential for communities and economies to thrive. As a matter of fact, companies that hire women across all levels enjoy a more collaborative culture and improved productivity. Teach a woman, feed a village is a testament to the influence women have to drive change and create opportunities for the benefit of a wider community.

 

This is why progress for women in 2019 and beyond is hinged on gender-specific policies and programmes. Some of which include equity pay and benefits, alongside national and international domestic violence laws.

 

LinkedIn_Lerato-Tsolo_800x419px_Q

However, besides creating a more conducive environment supported by these policies, Lerato Tsolo, HR Partner at Mercer points out that “we still have a long way to go.”

 

In the 2018 annual Global Gender Gap Report published by the World Economic Forum, Iceland, Norway, Finland, Rwanda and Sweden round out the top five that promote female advancement, while the Islamic Republic of Iran, Chad, Syria, Pakistan and Yemen make up the bottom. 

 

Iceland is the first country in the world to make pay inequality illegal. According to a CNN report, companies who fail to prove pay equality will be fined close to $500 a day provided the gap continues to exist. Not only is this an important stride in terms of a global outlook, but it also shows that Iceland is clearly advancing as an economy.

 

But even though the Global Gender Gap Report also indicates that it could take over 20 decades for women to earn as much as men, and have equal representation in the workplace, they remain vital contributors towards building thriving businesses and societies. As such, companies will offer a more unique value proposition in securing their tomorrow. One way of achieving this is to include health benefits and financial wellbeing solutions as a holistic employee proposition while considering that diverse segments of the workforce will require tailored solutions.

 

Across the world, particularly in Africa, not enough is being done to ensure that these needs are met. As highlighted in Mercer’s People First Emerging Megacities reportApproaching cities like Nairobi and Lagos rank low across these four dimensions- human, health, money and work.

 

To address this imbalance means designing benefits, education, and retirement plans in companies that adapt to specific needs. This simply means that organizations need to offer innovative programs customized for different gender behaviours.

 

LinkedIn_Nicol-Mullins_800x419px_EE

“Diversity is our nature, inclusion is our choice. Value is created when an environment is shaped to embrace unique views across gender, ethnicity and age future of work is mainly about sparking connections, building an environment that promotes a coherent sense of identity,” said Nicol Mullins, Principal Leader -Career Business at Mercer South Africa. He also emphasizes the need to embrace one another and realize that together is better.

 

Mercer’s 2018 Gender Inflection report has found that women are better represented in organizations that view women’s health as critical to developing and retaining women and that offer targeted programs, including gender-specific health education campaigns and parental leave. Efforts to improve financial wellness can also help mitigate the risk that productivity is being lost to time spent worrying about finances while at work.

 

The current landscape and dynamics of gender diversity provide a unique opportunity and platform for organizations to make strides. But while the overall progress towards diversity in the workplace may be a long one, every organization that considers inclusion as a strategy to drive.

Distributed by African Media Agency (AMA) on behalf of Mercer Africa.

About Mercer 

Mercer delivers advice and technology-driven solutions that help organizations meet the health, wealth and career needs of a changing workforce. Mercer’s more than 22,000 employees are based in 44 countries and the firm operates in over 130 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies(NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With nearly 65,000 colleagues and annual revenue over $14 billion, Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment. Marsh & McLennan Companies  is also the parent company of Marsh, which advises individual and commercial clients of all sizes on insurance broking and innovative risk management solutions; Guy Carpenter, which develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities; and Oliver Wyman, which serves as a critical strategic, economic and brand advisor to private sector and governmental clients. For more information, visit www.mercer-africa.com. Follow Mercer on LinkedIn Mercer Africa.

Media Contact:

Zwile Nkosi 

[email protected] 

+27 66 483 8974

- Advertisement -
- Advertisement -

Featured

Rand hits record low, goes over 19 to dollar as Fitch downgrades SA further into junk status

Last Friday Moody’s, the last rating agency to rate South Africa investment grade, cut South Africa’s sovereign credit rating to junk in line with economists’ forecast. Today Fitch further downgraded the country sending the rand plunging over 19 rand to the dollar. Below it gives its reasons...

Subscribe to our newsletter

Sign up for free newsletters and get more CNBC AFRICA delivered to your inbox

How prepared is Nigeria’s health system to tackle the COVID-19 pandemic?

President of the Nigerian Medical Association, Francis Faduyile says it will be pretty difficult for Nigeria's health system to cope in the event of a large number of COVID-19 infections. He further notes that low health budgets over the years has made Nigeria's health system weak. CNBC Africa's Christy Cole caught up with him to assess the preparedness of Nigeria's health system against the COVID-19 pandemic....

Global Gender Summit: Highlights special of the 2019 Global Gender Summit

The 4th Global Gender Summit was organized by the African Development Bank and co-hosted by the government of Rwanda under the theme “Unpacking constraints to Gender Equality”. At the event, the African Development Bank and its partners officially launched the Risk Sharing Facility of the Affirmative Finance Action for Women In Africa, as the continent moves a step closer to bridging the financing gap that exists for women. CNBC Africa’s Kenneth Igbomor reports....

Op-Ed: Why the COVID-19 pandemic is no time for fiscal distancing

"Extraordinary times call for extraordinary measures. As such, it can no longer be business as usual".- Akinwumi Adesina, President of the African Development Bank

Can Cruise Lines Recover From Coronavirus?

The COVID-19 outbreak has laid waste to entire sectors of the global economy, but none faster than the cruise business. The pandemic has basically shut it down with the three largest publicly traded cruise companies suspending some, if not all, of th
- Advertisement -

More Articles Like This

- Advertisement -