FTSE100 edging closer to women on boards target
26 March 2014
A push to improve female representation on the boards of the UK’s top companies continues to bear fruit, but some say the rate of progress is "painfully slow".
Wed, 26 Mar 2014A push to improve female representation on the boards of the UK’s top companies continues to bear fruit, but some say the rate of progress is "painfully slow".
The third annual Women on Boards report, released today, shows that women now account for 20.7% of board positions in the FTSE100 – up from 17.3% in 2013 and 12.5% in 2011.
The increase means that fewer than 50 new female appointments are needed to meet the target of 25% representation by 2015, set by Lord Davies in his original review of the matter in 2011.
However, there are still concerns about whether that target can be met.
Denise Wilson, chief executive officer of the Davies Review steering group, told The Daily Telegraph that the companies were “running out of time” to meet the goal, due to the amount of time it takes to recruit someone onto a board.
Liz Bingham, EY’s managing partner for talent in the UK & Ireland, says the "painfully slow" progress is a reminder that there is still a long way to go before the UK can claim success.
Bingham says companies need to set "targets with teeth" and treat the matter as a daily concern if they are to succeed.
Lord Davies says the “impressive” rate of change shows that more companies are beginning to understand the business benefits of having a balanced board.
Businesses need to continue their efforts into 2015 as “the eyes of the world” are on the UK, he says.
Business secretary Vince Cable says the statistics are a “huge improvement” from 2011, but a “renewed, concentrated effort” is needed to meet the 2015 target.
The third annual Women on Boards report, released today, shows that women now account for 20.7% of board positions in the FTSE100 – up from 17.3% in 2013 and 12.5% in 2011.
The increase means that fewer than 50 new female appointments are needed to meet the target of 25% representation by 2015, set by Lord Davies in his original review of the matter in 2011.
However, there are still concerns about whether that target can be met.
Denise Wilson, chief executive officer of the Davies Review steering group, told The Daily Telegraph that the companies were “running out of time” to meet the goal, due to the amount of time it takes to recruit someone onto a board.
Liz Bingham, EY’s managing partner for talent in the UK & Ireland, says the "painfully slow" progress is a reminder that there is still a long way to go before the UK can claim success.
Bingham says companies need to set "targets with teeth" and treat the matter as a daily concern if they are to succeed.
Lord Davies says the “impressive” rate of change shows that more companies are beginning to understand the business benefits of having a balanced board.
Businesses need to continue their efforts into 2015 as “the eyes of the world” are on the UK, he says.
Business secretary Vince Cable says the statistics are a “huge improvement” from 2011, but a “renewed, concentrated effort” is needed to meet the 2015 target.
