As we celebrate International Women's Day on 8th March, it's an important opportunity to reflect on how collective action can accelerate meaningful change in the workplace.
hen all employees come together with a shared vision, they can create lasting impact, promoting equality, inclusivity, and growth for all. Here, six experts share different ways leaders, businesses, and teams can harness the power of collective action, reshape the narrative around issues like inequality and lack of diversity, and foster an inclusive environment where everyone is empowered to contribute.
Refocusing on gender equity
Arunma Oteh, former Treasurer of the World Bank and author of All Hands on Deck, believes that as we commemorate International Women's Day, we must refocus on the transformative change to society when we leverage the power of collective action in the workplace to address gender equity. "This is as much because of the recent setback in this respect at the company as at the societal level," she states. Oteh continues, "This is unfortunate since research consistently shows that companies with greater gender equity perform better and are more profitable. They are also more innovative as different genders bring different attributes to the workplace, and diversity inspires creativity, and enhanced knowledge sharing."
Indeed, the World Economic Forum research showed that firms with gender diversity outperformed less diverse entities by 1.2% on average, between 2011 and 2022. She concludes, "There is no doubt that organisations that are able to capitalise on the roles women play as economic actors will have a competitive edge. The positive ripple effect means that society can accelerate progress in addressing existential challenges such as climate, poverty and inequalities, as well as unleash prosperity for all. It is therefore in the interest of companies to encourage collective action that supports gender equity."
