Over the course of 15 years in the private sector and 20 years in political activism, I have come to believe that gender diversity is an issue that transcends sector and workplace and is the number one workplace issue to address in our society. Every way you look, we know gender inequality doesn’t just hold back talent but we pay an economic price too – an estimated £600bn.

In the UK parliament, currently only 29% of MPs in the House of Commons are women, and still more men were elected at the last election than the total number of women ever elected. Women made up just 26% of FTSE 100 boards and only 14% of people working in science and technology jobs. Our gender entrepreneurship gap is more than twice that of France and Germany.

Recently I spoke at the launch of a Young Fabian pamphlet called Women in Financial Services: Is Parity a Pipe Dream? They had contributions to their work from a range of organisations including the CBI, Social Mobility Foundation (SMF), Women’s Business Council, Mentore Consulting, the Finance Innovation Lab, and the Institute of Chartered Accountants in England and Wales (ICAEW). The event for me showed the power of partnership between politics and business. If we want to see change happen, we need to fight for it together. Not only is parity right for social justice, it is right for our economy.

On a separate International Women’s Day visit, I spoke to girls in Bristol studying STEM subjects, about the jobs they hoped for. I was blown away by their ambition but saddened by the barriers they felt were in their way. They wanted to be engineers, professors, and even to work in national security. But many felt that they didn’t know how to get good advice or support to move their ambitions forward. One said: ‘I didn’t know I had a careers adviser’; another said: ‘I got some careers advice – but it wasn’t very useful. The adviser just put my request in Google.’

We need to ensure the doors are open for women to every part of our economy and society that has previously seen under-representation. That’s where our institutions play a big part too. Organisations like the Fabian Women’s Network, that I founded 11 years ago, still plays a part in pushing forward the frontier of women’s representation in our politics. More women in powerful positions means that women can change the nature of power itself – and transform it.

Now the practical question – how can we all do our best to nurture and promote female talent? And how can we see more women rise to the top of our politics, companies and public services? Here are a few ideas:

1. All of us have the chance, in whatever field we work, to make our profession more open and increase the visibility of role models.
2. Whether in business, politics or public services, opting for the historically no-go areas should be a positive career option for women. A programme of visits by women leaders to schools, colleges and universities makes a huge difference.
3. Stepping up our own commitments to improving diversity, greater transparency and tackling low pay – at every level.
4. Investing in mentoring and sponsorship programmes, or apprenticeships tailored for women.
5. We should work towards a radical new approach to support women in balancing home and work – particularly when it comes to caring for children.

This may sound controversial, but it makes good business sense. Eva Tutchell and John Edmonds explore the issue in their excellent book Made in Norway. They showcase many successful women and reveal it’s not a toddler holding them back – but the attitude of workplaces.

I think it is time to be bold. To take advantage of a sea-change in attitudes and have the confidence to challenge and stand up to inequality.

To quote the potential next president of the United States, Hillary Clinton: “Women’s rights are human rights. We are part of the human family. And the progress of any part is progress for the whole.”

Seema Malhotra MP is Member of Parliament for Feltham and Heston, Shadow Chief Secretary to the Treasury and Founder and President, Fabian Women’s Network