A new report out today has revealed the staggering effect that letting go of entrenched gender norms would have on the Australian economy and the overall wellbeing of our nation.

The Breaking the Norm: Unleashing Australia’s economic potential report, conducted by Deloitte Access Economics in partnership with Australians Investing in Women, found that more flexible ideas around gender would boost Australia’s economy by $128 billion each year and generate 461,000 additional full-time jobs.

Gender equity stalling in Australia

The report analysed how gender norms limit the extent to which women can participate and be valued in our economy, and the results are concerning.

Despite years of policies and programs aiming to level the playing field for men and women, gender gaps only appear to be widening, with women still earning only 86 cents for every dollar earned by men and spending 1.8 hours more on domestic work a day; while 75 per cent of lower-paid clerical and support workers in Australia are women. Additionally, just six per cent of top company CEOs are women and only 0.7 per cent of solely female-founded startups receive private funding.

Source: Breaking the Norm: Unleashing Australia’s economic potential report

The report identifies five gaps where progress has stopped or stalled:

• unpaid domestic work
• part-time employment
• occupation and industry distribution
• investment
• intimate partner violence

A growing body of research shows that gender norms in the form of stereotypes like ‘boys are better at maths than girls’ or ‘women are better at taking care of the home and kids’ have significant social and economic impacts, translating into fewer female engineers and low levels of fathers taking parental leave.

The flow-on effects of these beliefs is that they become labour market choices, which drive differences in pay and participation in the labour market over time.

Deloitte Access Economic Partner, Sruthi Srikanthan said when nearly a third of men don’t believe in gender inequality, despite the persistence of gender gaps in nearly every aspect of home, work and political life, the issue can be difficult to tackle.

“Our gender problem is much bigger than each individual gender gap. Our way of thinking has normalised differences between men and women to the point that we don’t just accept gender gaps, but we expect them.

“The way that Australia has aimed to tackle gender inequality has historically looked at different outcomes of gender norms, like the costs of childcare, the structure of paid parental leave, or discriminatory hiring practices. What this report shows is that without looking at the common source of these gender gaps, each action only plugs a leak that springs up elsewhere. We need to turn the tap off.”

Source: Breaking the Norm: Unleashing Australia’s economic potential report

Investing in women for the ultimate payday

The report found that more flexible ideas around gender would unlock the potential of more women, boost Australia’s economy by $128 billion each year and generate 461,000 additional full-time jobs through a combination of:

• More women participating in the labour force.
• Women working more paid hours (and men taking on a more equal split of unpaid labour and care).
• More people working in roles that align with their skills, talent and qualifications.

Sruthi Srikanthan said, “These benefits are really the floor, not the ceiling, for what we can achieve by breaking gender norms. We know that there are so many ways that families, businesses and communities benefit from more equitable ideas around gender – from better mental health for young boys and men to reduced domestic violence and sexual assault for women and girls. The key thing is that we need to start this now – before progress stalls even more.

“Challenging the way we think about gender today will lead to substantial and sustained gains for Australia’s economy in the future. Boosting Australia’s workforce, improving equity, and lifting productivity is exactly what Australia needs.”

Source: Breaking the Norm: Unleashing Australia’s economic potential report

Julie Reilly, CEO, Australians Investing in Women called on business leaders to take the lead on social change. “There is an incredible opportunity for corporate, private and institutional funders to take a lead on breaking gender norms,” she said. “Accelerating progress towards gender equality is the ultimate impact investment, capable of delivering a $128 billion payday for the Australian economy.

“This research is a call to action for policy and decision-makers in government, business and the community sector. It recognises the philanthropic sector’s vital role in Australia’s economy, reinforcing the need for private and corporate funders to help address rigid gender norms to accelerate progress.”

View the full Breaking the Norm: Unleashing Australia’s economic potential report at deloitte.com.au.

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