Let’s work together for gender parity on boards

This year, International Women’s Day is focusing on the campaign theme of #BeBoldForChange as it seeks as a more gender inclusive world. It is quite eye-opening to see from the World Economic Forum report last year, in their Global Gender Gap Report, that gender equality in the workplace will take another 170 years to achieve around the world, and more than 60 years in Western Europe.

One of International Women’s Day campaign partners is EY, who is promoting gender diversity in business – at all levels. Naturally, I find their thoughts on gender equality in the boardroom of particular interest, and so many of their recommendations chime with my work at Professional Boards Forum. Their findings, and the lack of real progress in boardrooms towards parity reiterate those of BoardWatch. EY’s 2016 report on gender diversity in business reveals that ‘over 50% of business leaders said they need to do more to attract, retain and promote women to leadership positions’. 

The report identifies five disconnects that hinder progress to greater gender diversity at board level. These are: companies believe they are making better progress than they are; companies don’t measure thoroughly the progress women are making into leadership; companies are not creating pipelines for future women leaders; men and women have different view on the gap in gender diversity; and different industries are making uneven progress towards reaching gender parity.

These disconnects bear out my own experience. One of the reasons for setting up BoardWatch to track appointments of women to CFO, CEO and board roles is so we can provide regular updates that measure the progress – or lack of it – towards gender parity in senior roles, across all sectors. When I created Professional Boards Forum in 2003, it was the first organisation to actively highlight the gender imbalance on boards and address this issue in a practical way. Our workshops, which introduce suitably qualified women to Chairmen, let those women demonstrate their experience, skills and talents to our network of Chairmen. That is the pipeline we are able to offer women en route to a place on a board.

I see some rays of hope, in spite of some less positive signs in the report. If you google ‘gender diversity’ plus the names of companies such as EY, PwC, Shell, Swiss Re, Accenture and others, you will find they actively promote diversity in their organisations – not least because they are aware of the value it adds to their profitability and growth.

EY say in their report that ‘23% of business leaders expect no change to gender diversity in senior leadership in the next five years’. Yet I have to say I have come into contact with many Chairmen of leading companies across Europe who absolutely recognise the value of women Non-Executive Directors (including to the organisation’s bottom line) and actively want to see more women on their boards. That is what has made the Chairmen I have encountered so enthusiastic about attending Professional Board Forum events – allowing Chairmen to meet prospective women candidates, with appropriate business skills and experience, who will bring valuable input to their boards in NED roles. 

So if you are a Chairman or CEO with senior women in your organisation with relevant experience to become an NED and who would benefit from the support of Professional Boards Forum, do get in touch. And if you are an outstanding woman ready for an NED role, contact me to find out what support we can give you in making the step up – and pushing us all towards gender equality in the boardroom.