Updated: Aug 5
Some time ago I read an article about why companies with more female executives make more money. And I thought, ‘of course they do!’
Ensuring diversity - not just across gender – is essential to improving a company’s performance because it enables people to bring different skillsets to the table, challenge the status quo and showcase representatives from diverse backgrounds which represents society, ie, the real world!
Yet the 2018 Hampton-Alexander Review found that although more women are getting into the boardrooms of the FTSE350 – and only a small minority of companies have an all-male board – nearly two-thirds of board appointees within the FTSE100 in 2018 were men.
What’s more, there are currently only 22 women in the role of Chair in the FTSE 350 despite the increasing pool of females with substantial board experience. While there is movement in the right direction, the rate at which women are appointed to CEO or CFO roles remains relatively flat.
The reasons for this are many and varied but deep-rooted preconceptions – whether conscious or not – of a woman’s role in the workplace contributes to stopping our progress when it comes to reaching gender parity in the boardroom. Couple this with the lack of flexible working on offer and women being the primary child carers that sadly stagnates many a woman’s career.