PwC annual Women in Work Index shows UK improvements

The debate of women in work – and women in business – is one that is certainly ongoing.

With reports that women are generally paid less than male counterparts even though the latest news shows that only one in ten women are now stay-at-home mums, the British Government has certainly had its work cut out to make sure that every effort is made to encourage women into the workplace.

The latest PwC report shows that the UK has risen four places to take 14th position within the 2013 OECD; this was its previous position back in 2000.

The improvement in performance has largely been attributed to strengthening economic recovery – this has driven improvements in the female labour force and reduction in female unemployment.

Nordic countries stay at the top when it comes to the latest statistic; Norway remains in first place, with Denmark second, Sweden third, and New Zealand and Finland fourth and fifth respectively (all of which have retained their positions from 2012).

The USA and Hungary notably improved their index positions, showing a narrowing of the wage gap, a general reduction in female unemployment and an increase in the female full-time employment.

What is the PwC Women in Work (WIW) Index?

The PwC Women in Work Index is a weighted average of various measures that reflect female economic empowerment:

• Ø  The equality of earnings with men
• Ø  The proportion of women in work
• Ø  The gap between female and male labour force participation
• Ø  The female unemployment rate
• Ø  The proportion of women in full-time employment

Executive board member and head of people at PwC, Gaenor Bagley, said;

“Whilst it is positive that the UK is gaining ground, it is clear that the low number of females in full-time employment is preventing the UK from competing with the Nordic countries at the top of the index.

“Despite the perception that flexible working helps women, our index and wider research suggests that it is still holding back women’s career progression. The reality for many flexible workers is that they have to work harder for promotion and don’t progress as quickly.

“The decision to go part-time is often made for short-term reasons, but unfortunately for women it often seems to have a wider, long-term negative impact.”

Bagley also commented that new Shared Parental Leave option which comes into force in April 2015 month were important, a change in culture is also required. She continued;

“For the UK to make real progress we first need to solve the culture challenge. We know women are confident and ambitious; they just need a workplace and society that support these aims. This often means getting the basics, such as how people are assessed and rewarded at work, right.”

Make the most of being female in work

There is no reason why you can’t choose to start your own business – whether it be as a sole trader or as a limited company – as an alternative to taking on a ‘day job’. And it may not be as scary as you may think!

With the help of an experienced company like Omni Chartered Accountants, starting up your business can be made easy, and running it is often a lot simpler than many anticipate.

For an initial chat, we are here to help – make that first step by calling 01902 837408 or by requesting a free of charge call back from our website. You can also click here to make an online enquiry.