The North East has seen the biggest improvement of any Ƶ region in an annual study that measures the best places for women to work.
The region has risen from 10th to fourth in the Women in Work Index, a report by accountancy PwC that assesses progress made towards achieving gender equality at work across countries around the world, as well as the Ƶ’s 12 regions and nations.
The North East’s improvement in the index came after a 3.5 percentage point reduction in the gender pay gap, as well as more women being in employment. The North East bucked the trend in the North, with the North West and Yorkshire and the Humber remaining unchanged in regional rankings, at seventh and ninth place respectively.
Emma Suchland, regional market leader for the North at PwC Ƶ, said: “Our latest findings provide some means for encouragement, with the North East showing signs of progress in particular.
“However, this is paired with relatively stagnant improvements in both Yorkshire and the North West. With both regions widening their gender pay gaps, this shows that there is still much work to be done if northern regions are to receive the full benefits of gender equality in the workplace, such as increased productivity and innovation, a larger and more diverse talent pool, and stronger economic growth.”
The Ƶ’s performance in the Women in Work Index has varied since the start of the study in 2011, rising to 10th place in 2020 thanks to the Covid furlough scheme but now standing at 19th. For the first time, the Ƶ is not the top ranked country among the G7 economies after falling behind Canada.
Related PwC research has drawn a link between female workplace participation and a country’s economic performance. Specific focus was given to analysing the impact of the female participation rate on increased productivity, and the resulting boost to productivity of OECD countries.
The findings indicate a correlation between increased female participation and productivity and GDP growth. PwC said that if progress toward full gender equality in the workplace were to continue at the same pace for the next five years, the Ƶ economy would grow by more than £40bn.
Phillippa O’Connor, chief people officer at PwC Ƶ, said: “The positive link between gender equality in the workplace and economic growth shows that investing in gender equality isn’t just the right thing to do, it’s the smart thing to do. The benefits of a larger and more diverse workforce are translating directly into GDP gains, as well as enriching economic diversity, reducing income inequality, and providing a stronger overall skills base.
“As our research shows, increasing the workplace participation rates of women has the potential to significantly boost the Ƶ economy and help solve the productivity puzzle – providing a valuable pathway to achieving sustainable growth.”
