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For Employers

Why Economists Say Hiring More Women Matters

Hint: it's all about growing the GDP

As the CoFounder and President of PowerToFly (a.k.a. someone who spends her days working with companies to close the gender gap) I get asked the same question constantly: "why is it important for companies to hire more women?" The answer is simple if you look at the economic data that shows what would happen if we had the same number of men and women working in the United States.

But before we go there (this is only a three paragraph post, so scroll down if you're impatient for the answer), let's look at how the U.S. fares when it comes to the gender gap in global labor force participation. Check out the highlighted chart below that gives higher numbers than the U.S. Department of Labor (about 63% to 79%). In comparison, the Department of Labor data cited on the International Labour Organization site shows "the U.S. labor force climbed during the 1970s and 1980s, reaching 60 percent in 2000. However, in 2010 this figure has declined to 46.7 percent and is not expected to increase by 2018 (DOL 2011)." Either way, the disparity between female and male participation is pretty grim.

World Bank

Ok. So why is the gap significant, and more importantly, why do we need to close it?

The answer: Reaching gender parity in the United States could boost the GDP by 5%. If you want to grow and fix the economy, one of the fastest ways to do that is to employ more women.

If you want to read more about how gender parity could benefit GDP growth - and how it has made a difference in Japan recently - then read this quick report called Building Inclusive Economies by Gayle Tzemach Lemmon and Rachel Vogelstein. The report was published by the Council on Foreign Relations in June and is full of facts that detail why it's so important to create truly inclusive workplaces that lead to gender diversity.

Here's the full quote where I got the GDP growth fact:

"Studies conducted by the IMF also find the strongest correlation between advancement in gender equality and economic growth in low-income countries. For example, while closing the gender gap in labor force participation in the United States could boost GDP by an estimated 5 percent, gains in lower-income countries such as Egypt could be as high as 34 percent."

Follow me on Twitter @kzaleski if you want more of my thoughts on closing the gender gap. I'll be blogging regularly on https://blog.powertofly.com - so bookmark that link!

Work-Life Integration

8 Questions to Ask Yourself to Determine If You’re Burning Out—And What to Do If You Are

I thought about writing this blog piece like one of those quizzes that used to be on the back pages of Seventeen and Cosmo where each question would offer several answers of varying point levels and you'd pick one answer per question, tally up your points at the end, and match your score to one of several possible results.

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Surescripts, LLC

Applying & Interviewing at Surescripts — Technical Recruiter Michelle Baker Shares Her Tips

Meet Michelle Baker, a technical recruiter at Surescripts. She shared her top tips for applying to Surescripts.

Get a behind-the-scenes look at the company's interview process, culture, and values, and learn how you can best prepare for interviews!

To learn more about Surescripts and their open roles, click here.

For Employers

How Leaders Can Support Their Black Employees

A five-step framework for addressing systematic racism at work

The world has changed in the past few weeks.

We're watching corporations and organizations across the world come out in support of Black lives in droves. Many of those organizations are doing so for the first time in their history.

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Career Advice

How Viasat’s Jasmine Harvey Architects Her Own Career

Jasmine Harvey is pursuing her MBA while working full-time as a buyer for Viasat, a global communications and satellite internet company. Balancing home, work, and school while maintaining a 3.9 grade point average has been quite a challenge. Jasmine had a perfect 4.0 until she took one of the hardest classes in her program, Managerial Economics and Global, during this COVID pandemic. She finished a full 15 percentage points above the class average, but was still 0.6 points away from an "A".

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Career Advice

How CSL's Kristen Krebs Applies Her Psychology PhD at a Biotech Leader

If you had asked Kristen Krebs what her dream job was when she was studying for her PhD in Industrial/Organizational psychology at DePaul, she might not have known exactly what title to give, but she would've described a role within a thoughtful organization where she got to make people's work experiences more positive, build a team with talented people, and feel connected to an overall mission.
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