A gender gap, a relative disparity between people of different genders, is reflected in a variety of sectors in many societies. There exist differences between men and women as reflected in social, political, intellectual, cultural, scientific or economic attainments or attitudes. Among men and women employed full time, 60 percent of the wage gap can be attributed to known factors such as work experience at 10 percent, union status at 4 percent, and the aforementioned choice of occupation at 27 percent, among other measurable  differences. Sample indicators of gender equality include gender-sensitive breakdowns of the number or percentages of positions as legislators or senior managers, presence of civil liberties such as freedom of dress or freedom of movement, social indicators such as ownership rights such as access to banks or land, crime indicators. 

The Closing the Gender Gap Accelerators aim to create global and national public-private collaboration platforms to address current gender gaps and reshape gender parity for the future. In addition, it is an untapped benefit to the world economy: estimates show that closing the gender gap could increase global GDP by 35 per cent on average.  Women's equal access to financial services not only unlocks economic potential, but also gives women a say in their own financial decisions. 

A Range of Inequity :

The gender pay gap is the result of many factors, including race and ethnicity, disability, access to education and age. As a result, different groups of women experience very different gaps in pay. The gender pay gap is a complex issue that will require robust and inclusive solutions. 

Job descriptions also often discourage qualified women from applying.  Women are less likely to apply for a job if the ideal candidate is described with traditionally masculine characteristics. A study of Canada’s top two employment websites found that for occupations where men predominate, job announcements included stereotypically masculine terms (such as competitive and forceful), and for those where women predominate, the announcements used stereotypically feminine terms (such as supportive and understanding). The gendered language deterred women from applying to “men’s” jobs, even when they believed they had the requisite skills.

Gender parity in education and employment is critical for economic growth and societal cohesion. The World Economic Forum estimates that at the current rate of progress, it will take 267.6 years to close the economic gender gap. While countries are well-placed to maximize women’s economic potential, it is imperative to instate well-targeted policies and interventions embed gender equality in COVID-19 response and recovery policies.

The stigma surrounding flexibility and other family accommodation policies can also derail women’s careers even if they manage to hang on to their jobs. In organizational cultures where extreme dedication to work is prized and superstars are those who respond to email at all hours and overdeliver to clients, taking advantage of policies that promote work/life balance carries a professional cost. Women working flexible schedules tend to be seen as less committed and less motivated than those working standard hours, even when their actual performance is identical. The widespread adoption of remote work in the Covid-19 era could help to mitigate the stigma attached to telecommuting and flextime, but only if companies are proactive about changing their cultures. Otherwise, we may wind up with a two-tiered system in which workers who stay remote in the post-pandemic world have second-class status.

Through the latest edition of the Global Gender Gap Index, the Centre of New Economy and Society has identified four key focus areas to accelerate closing of the economic gender gap in times of COVID-19:

1.   Hardwire gender parity in the post COVID-19 world of work: reskilling women to be ready for re-employment in high growth sectors

2.   Close gender gaps in remuneration between and within sectors: enhancing work quality and pay standards across currently low paid essential work

3.   Enable women's participation in the labour force: enhancing social safety nets, specifically on provision of childcare support

4.   Advance more women into management and leadership positions: setting targets for women in leadership on a government and business level .