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Sexist workplaces earn 15.4% less

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Here is another reason for you to curb the seemingly endless gender gaps in your company.

Economist David Cuberes from Clark University in the United States and Marc Teignier from University of Barcelona in Spain came up with a formula to quantify the gender gap in top management.

They calculated how much more money per-head a country could earn if the there was more female participation in the workforce.

READ MORE: Women are working 57 days for free every year

The report found nations in the Organisation of Economically Developed Countries (OECD) are losing on average 15.4% of their profits.

The US and UK could see their business performance go up by 13% if their workplaces were less sexist,  while the number in Latin America goes up to 16%.

According to their study, only 3% of CEOs are women among the 34 democratic, free market nations in the OECD.

Although Hong Kong was not included in the survey, one could not imagine the city to do any better than the OECD countries.

A study released last year by Qlik, business intelligence agency revealed that the city has no female CEO.

The report added the Middle East could be 40% richer per person if they are allow more women in the workplace.

Yemen, specifically, (46.5%) could almost double its per capita income if it welcomed more women into the workplace.

“Our results suggest that the costs associated with gender gaps in the labour markets are substantial,” the report stated.

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