McKinsey & Co. claims that the global GDP may raise by as much as $28 trillion if we implement full-on gender equality.
If women fully participate in the global economy, McKinsey & Co. said that it would add 26 percent to the global Gross Domestic Product by 2025, according to the consulting firm's research and economics arm.
As reported by Dallas News, though that number may be a bit unrealistic, boosting women's equality at the same rate as that of Bangladesh, the fastest-improving nation in a region, would increase the annual global GDP by $12 trillion.
And according to Anu Madgavkar, McKinsey senior fellow and lead author of the report, said "Women are such a crucial part of society and they are an under tapped resource."
In a similar report by Express News, Mckinsey & Co. found out that women generates just 37 percent of the world's GDP even though they make up half of the population.
CNN stated in a related report that in America alone, there is a great gender disparity on senior and executive roles. There are three reasons why women are under represented in the higher positions of the corporate ladder and according to McKinsey & Co., among them are:
1. Fewer women tend to be in roles that lead to the C-suite. Women are more likely to occupy staff roles, which don't produce revenue. Think administration, HR, legal and IT. By contrast, men disproportionately fill positions that are core to major operations and the bottom line — the pipeline jobs that leads to the C-suite.
2. Women express less eagerness than men to ascend to a top executive spot.
3. Women's professional networks tend to be all-female or mixed gender. Men tend to network just with other men. "Given that men are more likely to hold leadership positions, women may end up with less access to senior-level sponsorship," the report noted.
Although many company claims that gender diversity and equality is important, only a few actually practices it in full.
Coincidentally, this report by McKinsey & Co. happens the same time as the 20th anniversary of United Nation's declaration of a Platform of Action for women's empowerment.