4 Ways to Get More Women on Corporate Boards

By: Julie Castro Abrams, Founder and CEO, How Women Lead

Last fall, gender equality advocates all over California (myself included) took a collective deep breath as Governor Jerry Brown’s term neared its end. Sitting on his desk was Senate Bill 826, which would require women to be included on the boards of directors of publicly held corporations.

As someone who has worked for gender equity most of my adult life with 11 years dedicated to propelling women into business ownership, I knew that the passing of a bill like this could change economic and corporate structures from the top down, giving women more opportunities at all levels.

 Senator Hannah Beth Jackson (D-Santa Barbara) and Senate President Pro Tempore Toni Atkins (D-San Diego) spearheaded the legislation, and within days of leaving office, Governor Brown signed SB826 into law.

Why is this so important?

With more advanced degrees than men, today’s women represent 50% of the workforce. Millions of households rely on women to be financially successful. It hurts everyone that women are still making almost 20% less than our male counterparts.

The presence of women on corporate boards is part of the solution. It has been proven that when women are on boards, companies perform better and manage risk more effectively. Women on boards increase pay equity within companies, address structural issues like forced arbitration and create clear pathways to management for women.

What’s more, 2019 has been the worst IPOs since the tech crash. Corporate governance is the core issue cited in every analysis. Having women on boards has shown to deliver 26% greater shareholder returns, showing that the financial implications of women in board seats make it better for everyone. 

How Women Lead is having two events celebrating this cause:

-       On Oct. 16, Silicon Valley’s top leaders will gather for an interactive discussion on the topic in Sunnyvale, CA (snag your ticket here). *We will be honoring Senator Jackson, as well as pension fund CalPERS, which has mandated each of its funded companies have a woman on the board.

-       On Nov. 8, we will host an event in San Francisco in support of 2020 Women On Boards, a national effort to increase women on U.S. company boards by 20% or greater by 2020. It will also include commentary from venture capitalists on the role they can play to move the needle for women (click here for your ticket).

Bonus: Below are a few ways YOU can help get more women on corporate boards. 

Talk to your vendors

Ask every one of your vendors how many women are on their boards. This is an effective way to send questions up the ladder and remind management that clients are inquiring about gender representation.

Ask your own company

Not sure how many women are on your company’s board? Just ask. Even better, if your company has a venture arm, ask to serve on that board.

Search the 2020 Women On Boards directory

The 2020 Women On Boards initiative website has an excellent directory (click “search the directory” on the left side of the page) of major companies and the number of women on each company’s board. The directory even allows you to email a company directly to ask why the organization doesn’t have proper representation.  

Encourage your female friends/colleagues to join a board

Studies show that women have to be asked nearly a dozen times to run for office before they’ll consider it (men say yes first). Women may need your encouragement to step up and ask for that seat.

Flip this script by asking your female friends/colleagues if they’ve ever thought about joining a board. It doesn’t have to be for a Fortune 100 company (although that is great, too), but any company counts. Encourage them to get into the room where decisions are made. This is one of the ways we will start to change the world for the better.