Women on Boards has called for Australian governments and businesses to urgently prioritise closing both the gender-pay and gender-investment gaps to achieve #balanceforbetter. Claire Braund, founder and director of Women on Boards, said that with the Federal election on the horizon, it was critical that governments came to grips with the notion of ‘financial gender balance’ if our economy and society were to prosper.
She said the 40:40:20 metric WOB had long-been advocating – 40% men and 40% women with 20% of either and/or other genders in the boardroom, in political and business leadership, at management level and within the community – was even more relevant to address the ‘financial gender imbalance’ in Australia. “It has been proven over and again that gender balanced leadership leads to better decisions and more equitable outcomes for everyone,” Ms Braund said. “So let’s consider the economic implications of having a minimum of 40% of our aggregate national payroll going to women, 40% of small business grant funding going to female led businesses, 40% of venture capital being awarded to female founded start-ups….the list goes on. At the top level it’s about enshrining the 40% principal – one which sees at least 40% of the financial assets in this nation being owned or controlled by women – if we are to avoid the perfect of storm of more women living longer, retiring on less and relying on tax payer funded welfare.”