41 MARTINDALE CENTER FOR THE STUDY OF PRIVATE ENTERPRISE and Sweden ranked number five (World Economic Forum, 2022). This big picture relays that although Denmark is improving in some areas, the rate of change is lower than the other Nordic countries. It is not enough to attempt to reduce the gender gap, as this is a problem faced by all countries. The issue is that, somehow, the other Nordic countries have been able to increase their percentages of women in executive positions and on corporate boards at a much faster rate, which is why they maintain high positions. If we go back to 2014, Denmark was in the top five in this same survey. Therefore, it is not as though Denmark has always been behind these other countries. It is that Denmark has been unable to have the same success in reducing its gender gap. Figure 1 displays Denmark’s downward trend across an 11year span. The need for change In a country that has more women in some sectors such as health care and service, it is still necessary to understand why this inequality of women in management matters (“Women Make up Just 15 Percent…,” 2021). It is important for women to hold positions of power in companies because men and women bring diverse perspectives to problem-solving and brainstorming. Women's different experiences can shape how they approach tasks. By adding more women to management roles, younger women can have role models to look up to, which can help the flow of women into the field. With an equal number of women and men in these roles, both men and women will become accustomed to seeing women on boards and in the corporate space. One study found that 54% of women said that having a role model in higher-up positions is helpful to the issue at hand (Diversity Council, 2022). Additionally, the Organisation for Economic Co-Operation and Development (OECD) found that in the Nordic countries, increases in female employment have raised the GDP per capita growth rate. When examining Denmark specifically, it found that women work significantly fewer hours than men, and if this gap were closed, GDP per capita would increase by 19% from 2013 to 2040 (OECD, 2018). Therefore, it is evident that, for both diversity of thought and economic reasons, lessening this gap in Denmark matters (McKinsey & Company, 2018). Why the corporate gender gap exists Reasons for the corporate gender gap are several and range from specific workplace issues and broader employment practices, to education pipeline differences, and to unintended consequences of social policies. Identifying and analyzing these sources is a necessary first step in formulating possible recommendations to resolve the current situation. Figure 1 Global Gender Gap Report rankings among the Nordics, 2011–2022 Source: World Economic Forum, 2022.
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