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Business Intelligence Expert Opinion Insights

The Rise of Her Economy

August 14, 2020

Words by Ashlee Trout & Claudia Trotter | Her Economy Girl | @asha.chloe

The phrase ‘Her Economy’, targeted at career-minded and health conscious women is a modern-day phenomenon that is being increasingly recognised worldwide. The term has formed relatively recently and is based on women’s professions, financial management, consumption patterns and lifestyle habits. The rise of Her Economy is a movement that illustrates the improvement of female socioeconomic status, providing a means for women to have a voice and to exercise more control over their careers.

As technology is accessible at the tip of our fingers, many women are taking to the online world and using a self-directed learning method to brush up on their professional skills. Online courses, usually broken into two categories: one for hard skills such as the use of software programs and soft skills such as training in communication, are gradually becoming a widely accepted path of education. These online courses can be delivered through live streaming sessions, video chats or online modules and can be done in collaboration with other women to create a sense of connection.

However, Her Economy is not just about the technical skills we would use in the office. Beauty, nutrition and fitness are the three most popular areas that women in the workplace are concerned with. At Her Economy, we place a huge importance in balancing work and lifestyle habits and online courses are also helping women to teach and instil these practices into their everyday routines.

Full-time working women often feel they lack sufficient time to move their bodies and prepare nourishing meals however, with these initiatives being set up, they are able to grasp some basic knowledge and tips on how they can implement health and fitness routines within the home and the office. While practicing good health habits is important for the employee, it is also essential that the company itself is promoting effective work-life integration where the day is made up of a balance between job-related tasks and time for one’s wellbeing.

Major companies, particularly Tech corporations where a large majority of the day is spent looking at screens, can implement some proposals such as providing a healthy staff breakfast once a week, using standing desks and having a yoga hour at lunch. In the 2030 Agenda for Sustainable Development, an action plan to achieve peace in people and the planet, Goal 5 is to “achieve gender equality and empower all women and girls”.

Her Economy well and truly endorses this goal and wants to enforce the need for more leadership opportunities for millennial women within the workplace. Giving women agency within their profession and closing the gender gap is central to women feeling empowered- and currently it is Sweden leading this charge. Since 2006, Sweden has never ranked lower than fourth by the World Economic Forum who rank countries based on their employment gap between men and women. When more women work, the economy 

significantly grows. Economic female empowerment leads to increased productivity, workplace diversification and boosted income and by doing this, other countries can match that of Sweden, which would see GDP rise by over USD 6 trillion. Companies with gender equality have been proven to possess incredible administrative effectiveness and communication, and it is estimated that those with three or more women in senior positions score higher in all categories of organizational performance.

At Her Economy, we want to educate young girls entering the workforce on what gender equality can mean for a company and how their employment choices can contribute to closing the gap. Our girls should not be thinking that male-dominated organisations are the norm, and instead having confidence in their ability to do the same, if not a better job than those already in senior positions. So while our planet is currently in chaos, facing challenges bigger than we are equipped to deal with we can still try to see some light in the tunnel. Us girls need to band together and double, triple, multiply the Her Economy movement so that every woman feels they have a voice. Let’s make the workplace (or home office for the next few months) a better place for us all and keep feeling inspired to go out and take control.

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