Involving more women can address the shortage of professionals in the labor market in Central and Eastern Europe. Taken together, this will have a positive effect on the region’s economy of 146 billion euros by 2030.
This is what experts from the consulting company McKinsey say in their analysis on this topic.
According to him, higher activity of women in the labor market will bring an additional 8% to gross domestic product (GDP) in Central and Eastern Europe by the end of the decade. In other words, it will contribute a total amount equivalent to the economies of Slovakia and Croatia combined, writes the site Emerging Europe.
The analysis examined seven countries in the region – the Czech Republic, Hungary, Poland, Romania, Ukraine, Croatia and Slovakia. Calculations show that women make up 52% of the total population and more than 60% of the population with higher education. At the same time, women make up 45% of the labor market.
“More women’s participation will solve the problem of labor shortages in Europe, as 630,000 jobs are not being filled in the region,” said Marta Matecka, McKinsey’s partner and author of the report.
“When the region returns to its peak, the number of vacancies will increase to more than 2 million in 2030, on the other hand, 2.5 million women could potentially enter the labor market and fill this gap,” she added.
Experts expect that different sectors will look for new employees, as some of them traditionally hire more women. These are health and social security, trade, and manufacturing.
Experts note that the implementation of the necessary changes requires great political will, as well as great initiative on the part of business.
The analysis also discusses the need to share a common vision and goals for the inclusion of more women in the labor market, initiatives to promote untapped talent, and efforts to improve work-life balance for both men and women.