link.png Number of women on boards has doubled, but gender parity is a way off yet.← Back


Image source - Pixabay
 
This week saw the publication of the annual Lord Davies report of 'Women on Boards', a review commissioned by Business Secretary Vince Cable in the aim of achieving a 25% female representation on FTSE boards.
 
The review found that there are now 23.5% women on boards, following a push to recruit more women. When the initiative started in 2011, FTSE 100 boards had a female representation as low as 12.5%. The figure has almost doubled, with 192 women having been recruited since then: of all the appointments made in the past year, 31.7% were women and the FTSE 100 no longer counts any all-male boards. Businesses have until the end of the year to meet the target of reaching 25%, which would only require FTSE 100 boards to recruit an additional 17 women. Cable commented “I am confident we will reach our target this year, but our work is not complete. British business must keep its eye on the long game, as we strive to achieve gender parity.”
 
Amongst the top three companies to have improved the most since 2010, is the Intercontinental Hotels Group which now hires 45.5% of women to its board. Drinks company Diageo also hires 45.5% women, however no company can yet claim to employ an equal number of men and women. Furthermore, the review highlights that the number of women Executive Directors remains low, at only 8.6%, and this is something that needs to be tackled. Lord Davies commented: “We have to fix the low number of women Chairs and Executive Directors on boards and the loss of talented, senior women from the Executive pipeline.” 

So, whilst these new figures might be an occasion to celebrate the increasing number of women being recruited to boards, it’s also proof that we’re still far off from achieving gender parity in the world of work