When I was deployed to Kosovo, the Swiss army was there, and in Switzerland, military service is mandatory for men. They told me how the system works, and as a strategic policy, it's quite impressive. As a result, though, women make up just 1% of the Swiss army. Women explained the situation to me, telling me that they all serve on a voluntary basis.
I think it's a good experience for everyone. People learn discipline, teamwork and what it is to serve their country. It's a good idea, but I think we need to do some more research and look not just at countries like Switzerland.