Gender equality helps companies beat the competition

Gender balance isn't only about fairness but is also a sound financial strategy. (Dean Lewins/AAP PHOTOS)

Australian employers could fall behind their competitors if they do not take action to address gender imbalances in their workforce.

Companies that are taking action on gender equality have lower staff turnover, higher numbers of women in leadership and better shareholder value, a report by Bankwest Curtin Economics Centre and the Workplace Gender Equality Agency has found.