New Rise In Female Representation On FTSE Boards
“Business leaders must fix systems, not fix women,” said charity leader Lucy Kallin
Women are represented on 45% of FTSE 100 board roles – an increase of two percentage points from the previous year – a report has revealed.
In FTSE 350 companies, women now occupy 1,275 (43%) of board roles, and 6,743 (35%) of leadership roles, according to analysis within the FTSE Women Leaders Review report, published on Tuesday (25 February).
Further, the UK FTSE 350 ranks second among the indexes of other G7 countries for female representation at board level. The Women Leaders Review report, which was compiled by an independent business-led group supported by the UK government, stated that British companies are leading the way for gender equality in boardrooms.
“Seeing more women occupying board seats and senior leadership roles is an encouraging milestone,” said Louisa Oliveira, HR director UK and ROI for hygiene products provider Essity. “However, this does not mean HR leaders can pause their efforts,” she told HR magazine.
“Gender equity remains a work in progress, and it is not the only challenge. HR leaders must advocate for equity across the board, including in pay, healthcare and employee rights such as maternity and paternity benefits. [We] have a responsibility to sustain the momentum for women in leadership while also recognising and tackling other facets of diversity.”
Lucy Kallin, executive director EMEA for Catalyst, a charity for women in leadership, agreed. Speaking to HR magazine, she said: “These figures show a welcome upward trend. However, despite progress, we’re still far from achieving true gender equity. The work is not done. Reaching real gender equity requires bold, meaningful and accountable action. This should be a top priority for all organisations.”
Importantly, women are not staying in board-level roles as long as men are, said Amy Looper, who specialises in mindset coaching for women. This underscores the need for doubling down support for women in leadership, she suggested to HR magazine, adding that “for executive women, an average rate of tenure is 4.5 years compared to 7.5 years for men.”
Practically, employers can support increased representation for women at board level by developing robust policies and processes, according to Oliveira. These must “identify and nurture female talent from early in their careers,” she added, before going on to emphasise that that mentorship, sponsorship programmes and supporting flexible work patterns are also powerful drivers of success.
“By clearly communicating measurable targets for gender balance and implementing equity-improvement initiatives, organisations can have an authentic and tangible impact on gender equity at all levels,” continued Oliveira.
Kallin said: “Business leaders must fix systems, not fix women.” Building and nurturing women’s leadership pipelines while creating workplaces that truly support women was an important part of this process, she added.
According to Looper, the first step employers must take is to sponsor and advocate for women in senior leadership roles. “Create a board readiness programme, advocate for equitable hiring practices, and create a culture of inclusion from a place of willingness, not a mandate,” she advised.
Business leaders behind this most recent data about female representation at board level plan to support HR and employers in their efforts to further the cause. Mary Walsh, representing the authors of the FTSE Women Leaders Review report, told HR magazine: “We will be working with business to accelerate their efforts. This requires determination, top-down commitment, clear goals and meticulous attention to detail in the recruitment and retention of female talent to build the pipeline.
“By sharing best practice and experience and showcasing the policies and actions that move the dial on women in leadership, we can support organisations in their drive to achieve sustainable change.
“Our focus is on reinforcing the business case for equality of opportunity and encouraging business leaders to act as role models for inclusive leadership, building a working environment that creates fairer outcomes for everyone.”
Originally published on HR Magazine, https://www.hrmagazine.co.uk/content/news/new-rise-in-female-representation-on-ftse-boards
