Benefits of Women to Business and the Economy Are Clear, but Distant

Canada needs to catch up in gender equality

Christine Lagarde, managing director of the International Monetary Fund, listens to a question during a news conference with Prime Minister Justin Trudeau in Ottawa on Sept. 13, 2016. Lagarde strongly advocates a greater role for women in business to improve economic growth. The Canadian Press/Adrian Wyld

Research overwhelmingly suggests that having more women in the C-suite improves profitability. More women in the workforce would kick-start the economy.

However, despite all the economic benefits more working women would bring, they remain very poorly represented in the workforce, let alone at the top levels of companies. It’s a situation that’s unlikely to change anytime soon, and Canada is a notable laggard in gender equality.

A joint study released last month by LeanIn.Org and McKinsey & Company showed that while American companies are committed to gender diversity, it’s mostly talk. Action is lacking.

Including women in Boards of Directors improves the bottom line.

— Christine Lagarde, Managing Director, IMF