Females want to fight fairly for their place on the Board
Diversity at the top of the professions is a thorny issue and one that lacks a simple answer.
In the law, (in common with other professional services organisations) the number of women entering the profession each year has exceeded the number of men for some time, yet the proportion of female partners is still running at less than 20%. Firms face a waste of investment in training, a loss of talent and knowledge and recruitment costs every time a lawyer leaves – in addition, there is real pressure from clients to demonstrate genuine diversity at all levels of the firm. Some clients cease to instruct firms that fail to comply.
The Financial Times reported today that a government inquiry is set to recommend that blue-chip companies be given two years to raise sharply the proportion of women on their boards or face the potential imposition of quotas. The proportion of women on FTSE 100 boards has plateaued at 12.5 per cent, having barely increased over the past three years. In the FTSE 250 the proportion of women on boards in just 7.8 per cent and more than half of companies have no female directors.
Many female executives have argued against quotas preferring to be recognised for their talent and skills. In addition to the imposition of quotas, Lord Davies’ review is considering a code of best practice for headhunters recruiting board-level staff and has suggested an academy to train and mentor female executives.
All of which is very positive but perhaps misses the point – the drain on female talent occurs earlier on in their careers at the point at which they come under strain to balance their work and family commitments. By creating an environment that is flexible enough to support women during the difficult early stages of family life whilst allowing them to continue with their chosen career, many more women would continue in the corporate world and gain the skills and experience necessary to compete with men fairly and on an equal footing for board places as they reach the top of their profession.
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