Why I Am a Male Feminist – Testimonial of Executive Involved with UN on Women’s Issues

https://www.linkedin.com/pulse/why-i-am-male-feminist-joe-keefe

WHY I AM A MALE FEMINIST

By Joe Keefe –  Joe Keefe is President and Chief Executive Officer of Pax World Funds and its investment adviser, Pax World Management LLC, as well as its majority-owned subsidiary, Pax Ellevate Management LLC. He is Co-Chair of the Leadership Group for the Women’s Empowerment Principles, a joint program of the United Nations Global Compact and UN Women, and also serves as Chair of the Board of Directors of Women Thrive Worldwide. In 2015, Financial Times named him one of its “top feminist men” for his work helping women succeed in business and beyond.

November 23, 2015 – As a male financial executive, I’m well aware that I may not fit the mold of a typical feminist.

So why have I made gender equality a core tenet of my professional life?

• Because despite minor gains, women and girls continue to endure various forms of discrimination, harassment, violence, marginalization and exclusion across the globe.
• Because human trafficking, honor killings, genital mutilation, and sweatshop work environments are still prevalent.
• Because in too many places young girls are at risk for simply trying to attend school and women are threatened for raising their voice.
• Because in the US, women still  earn only 78 cents for every dollar a man earns (reported here), and hold only 17% of Fortune 500 board seats (reported here).

For these reasons, I believe that gender inequality is the great human rights issue of our time.

It is also the great economic challenge of our time. And businesses need to be part of the solution.

The Economic Case for Feminism

There can no longer be any argument.  An overwhelming body of research shows that where women are empowered, economies perform better, and where women are better represented in corporate leadership, businesses perform better.

The economic case for advancing gender equality is rock-solid:

• McKinsey has reported that, as a result of women entering the workforce over the past four decades, gross domestic product (GDP) in the U.S. is about 25% higher than it would have been.
• Goldman Sachs economist Kevin Day has calculated that eliminating the remaining gap between male and female employment would boost GDP in the U.S. by 9%.
• A 2014 Credit Suisse study of 3,000 companies assessing the level of women in senior management found that more diversity in management coincides with better corporate   performance and higher stock market valuations.
• A 2014 Thomson Reuters report on the levels of board gender diversity for 4,255 public companies globally concluded that, on average, companies with no women on their boards underperformed relative to gender-diverse boards and had slightly higher tracking errors.

In the business community it is increasingly clear: When more women are at the table the discussion is richer, the decision-making process is better, management is more innovative and collaborative, and the organization is stronger.  Diverse groups simply make better decisions than non-diverse groups.

You know what drives me crazy as a business leader? When I think about how much wealth remains locked up inside outdated, dim-witted, patriarchal structures around the globe.

Unprecedented economic value would be unleashed if women simply had the same educational and economic opportunities as men. In fact, I believe true gender equality would lead to the greatest period of economic growth in the history of the planet.

So, how can we move gender equality forward?

By investing in companies that invest in women. By advocating for pay equity. By saying “no” to all-male corporate boards.

It is critical that all leaders – both male and female – take action now, not only because it is the right thing to do, but because it is the smart thing to do for our global economy.

So, why am I a feminist?

I think the better question is, why isn’t everyone?