Research from the Peterson Institute of International Economics shows that going from having no women in corporate leadership to a 30% female share is associated with a 15% increase in profitability for a typical firm. This enables more work flexibility and there is less likely to be a gender and superannuation pay gap, which doesn’t only help the woman, but also the man and the family as a whole.
Femeconomy wants to drive women making over 85 percent of consumer purchase decisions to brands with female leaders to progress gender equality. Believing in the importance of normalizing the voices of women as leaders, they are growing their audience by profiling female leaders from their brands and the Australian community. They also want to show future female leaders that the path to leadership is very varied for women and not as linear as a traditional male career path. Femeconomy believes that if women start channeling their collective purchasing power towards brands that have women in leadership, they will impact bottom lines, leading to more women in leadership – which they call the Femeconomy Effect.
Over 2000 brands are listed on Femeconomy and over 700 of these meet Femeconomy’s approval criteria of at least 30 percent of women on the Board of Directors or 50 percent female ownership. It is important to have brands that are not yet Femeconomy approved, so that consumers can choose to switch to companies that are Femeconomy approved. Gender equality is a journey and Femeconomy want to find ways to create a supportive and inclusive network, where companies can assist other companies to progress. Companies can apply to be listed on Femeconomy via https://femeconomy.com/submit-a-brand/
They have recently launched Professional Services, Health and Well-Being and Gender Equality Services as new categories on the site. They have also recently changed from just being a B2C to a B2B site as well due to customer feedback and are looking to expand to the US, UK and the whole of Australia in five years.
The founders Jade Collins and Alanna Bastin-Byrne are sisters-in-law who wish to make a better world for their daughters. Femeconomy is proudly a for profit social enterprise, role modelling Female Leadership and Entrepreneurship. Jade and Alanna believe that if you see it, you can be it.
Jade Collins has over 19 years of global experience in corporate executive human resources and management consulting roles in the mining, energy and aerospace industries, leading large scale, complex change management programs. She finds the combination of her HR, Psychology and MBA qualifications and her leadership experience invaluable for creating networks and engaging others to increase gender equality in leadership across industries. Jade is a member of the Queensland Government’s Strategic Advisory Group for the Toward Gender Parity: Women on Boards Initiative.
Alanna Bastin-Byrne has over 16 years of experience in Marketing, Communications and Community Development leadership in the UK and Australia. Her experience spans a wide range of industries including Health, Arts, Events, Education, Social Housing and Tourism. The diversity of her leadership experience has been instrumental in building Femeconomy’s engaged community to advance gender equality.
If you want to be a Femeconomy brand or want to know more about them, visit their website at https://femeconomy.com.