16
BUSINESS WOMEN IN
IN ASSOCIATION WITH:
MAKING AN IMPACT - BUT MORE IS NEEDED
Profiles by Tim Aldred
First the good news. The UK has climbed to second in the international rankings for women’s representation on boards at FTSE 100 level.
New figures, published shortly after Lancashire Business View brought its 2022 Women in Business panel together, show nearly 40 per cent of UK FTSE 100 board positions are now held by women, compared with just 12.5 per cent 10 years ago.
Now the less good news. Another figure highlights just how much work is still needed to do when it comes to women in senior roles in our SMEs here in Lancashire.
According to our research, conducted with PM+M, out of the 344 directors in Lancashire Business View’s 2021 Hot 100 list of the county’s most profitable SMEs, only 71 were women.
That’s just around one fifth (20.6 per cent) of the total, which means there is still a long way to go when it comes to representation in businesses which are the backbone of the county’s economy.
Nationally the number of women in chair roles across the FTSE 350 rose to 48, up from 39 in 2020, and there has been a significant fall
in the number of ‘One and Done’ boards, to just six this year, as businesses take action to diversify their boardrooms.
The government was quick to hail those positive figures as a major sea-change in attitudes to getting women leaders to the top table. The UK now stands second only to France in the international rankings.
We look to ensure that everyone can reach their full potential
The statistics also show women’s board representation increasing in 2021 across the FTSE 100 (39.1 per cent), FTSE 250 (36.8 per cent) and FTSE 350 (37.6 per cent).
However, only one in three leadership roles and around 25 per cent of all executive committee roles are held by women and there are very few in the chief executive role.
Against that backdrop, Liz Truss, minister for women and equalities, says: “It is excellent to see the progress being made, but we know there is more to be done.
“We will shortly put forward a range of measures to advance equality for women at work, increasing opportunity, and tackling the issues that are holding women back as we look to ensure that everyone can reach their full potential.”
To ensure companies continue to raise their game and open opportunities to everyone, the latest FTSE Women Leaders Review report has set out new recommendations.
They include increasing the voluntary target for FTSE 350 Boards and for leadership teams to a minimum of 40 per cent women’s representation by the end of 2025.
The aim is to bring a new focus to the appointment of women at the highest levels of business, particularly in those companies still lagging behind.
To that end, on these pages Lancashire Business View is highlighting the county’s ‘women of impact’ and shining the spotlight on those who are making things happen.
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