Think Women: encouraging a workforce where women thrive
Discover what you can do to support women in international roles. Discuss how inclusion, leadership development and education can promote more opportunities globally for women and girls at our Think Women Lunch on 6 March.
D
oes International Women’s Day still matter? With women making progress in corporate and public life, why do we need to mark the occasion? The answer is that while there have been
improvements in some areas, progress is not universal. Not all women have access to quality education and opportunities for training and promotion. Women’s career progression, mentoring opportunities and pay still lag behind those of men.
TIME FOR CHANGE Even at the highest levels of companies, men still occupy many of the most important roles, thus setting the tone for the culture of the organisation. For example, the government has set targets for 33 per cent of board members to be female by the end of 2020. Data released in November by the Hampton-Alexander Review for its 2019 report
shows the FTSE 100 is unlikely to meet its target by the end of next year. “Four years on, too few women are being appointed into senior
leadership roles in the FTSE 100, with around two-thirds of all available roles still going to men,” the report says. “Unless the appointment rate of women is nearer 50 per cent in the coming year – that is half of all available roles going to women and half going to men – the FTSE 100 will not achieve the target by the end of 2020.” It’s a similar picture for smaller UK companies – those in the
FTSE 250 and 350. Yet research consistently shows that having a diverse workforce where women are fully represented is likely to lead to greater profitability. “In 2019, our dataset continues to show a significant link between diversity and financial performance, with companies in the top quartile for executive team diversity 15-24 per cent more likely to outperform,” says Vivian Hunt DBE managing partner, UK and Ireland at McKinsey & Company.
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