The bright side of boardrooms
The goal of having 40% women on company boards has been reached early.
FTSE Women Leaders Review said it was a testament to the power of clear goals and effective policies. Having more women in leadership roles brings many benefits, including increased competitiveness, creativity, and innovation.
The FTSE review analyzed the progress of women in leadership roles over the past 12 years for the FTSE 350 and 7 years for the FTSE 250, and included the top 250 privately held companies in the UK. The progress towards gender balance on boards and in leadership roles has been impressive, despite there being no formal requirement for companies to report on their diversity efforts.
KPMG UK and Lloyds Banking Group are just two examples of companies that have acted on leadership diversity. KPMG has over half of their executive committee and nearly half of their board composed of women, while Lloyds Banking Group has met the FTSE Women Leaders Review targets for 40% representation on boards and in leadership roles. However, they both recognize that there is still work to be done and have set their own targets for greater gender balance.
The FTSE Women Leaders Review is a collective effort led by businesses and supported by the government. Achieving the 40% target for women on FTSE 350 boards is a defining moment that everyone associated with the review should be proud of. This progress shows that we are moving in the right direction towards greater gender balance and inclusivity in the workplace.
Short-term news cycles are always pessimistic. Zoom out. #TheBrightSide
I help organisations change to be more agile, inclusive, and successful through applied business psychology
1 年Moving in the right direction, although I gather that the target has been achieved largely by greater representation on non exec boards, with gender balance in operational leadership roles not having changed that significantly