Lack of Equal Opportunity and Gender Pay Gap for Women of EU

According to Liana Gouta, member of the Board of the Greek Management Association (EEDE) Macedonia Section, and Chairman of the Women’s Organization for Managers and Entrepreneurs (TOGME), women in the European Union work 60 hours per week, 26 hours of which are unpaid. Liana Gouta, speaking to the 6th Women on Leadership Conference organized by TOGME, claimed that despite the immense changes in women’s role in contemporary society and their participation in economy, there is still a gender pay gap and women don’t have equal opportunities to men in leadership or high responsibility positions.  According to a survey that was conducted recently by the International Hellenic University, on behalf of TOGME, the vast majority (97.6%) of chief executive positions in large companies of EU member countries, are being held by men, while  women only hold 8.9% of membership on Boards of Directors. However, data presented in 2012 by members of the British Hellenic Chamber of Commerce, showed companies with a higher representation of women board of directors attained significantly higher financial performance. Research conducted by the consulting firm McKinsey, showed that companies with mixed gender executive committees generate 41% greater return on equity and 56% higher average EBIT margin than the male dominated committees.  

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