“Discrimination produces inefficiency,” said European Equals Opportunity Commissioner Vladimir Spidla at the launch of a European campaign against the gender pay gap on Tuesday, March 3. “It is precisely during times of crises that we should be most active.”
One study of 15,000 small and medium sized businesses run in Finland by women tended to be 10 percent more efficient than those run by men.
Another study by Professor Michel Ferrary of the Ceram Business School in France showed French companies that have women on their board of directors perform better on the stock exchange. That study was published in Monday’s Financial Times.
According to figures in Europe only 30 percent of managers are women and only 10 percent of those work in large corporations.
Women are paid on average 14.7 percent less than men doing the same job.
Women in the work force in Europe tend to have lower positions than men. One of the reasons that this is commonplace is that women take more career hiatuses for family matters than males do. This lowers their career pay and the steps on the career ladder.