Women on Corporate Boards

Women face substantial hurdles in being appointed to corporate boards, often encountering bias and bullying that undermine their confidence and sense of worth. This not only affects their mental well-being but also poses a challenge to achieving equitable career progression. Understanding the impact of gender identity on women can help combat gender bias. The benefits of diverse leadership in decision-making processes have contributed to the success of many organizations. Studies by McKinsey & Company and the Peterson Institute for International Economics highlight the positive correlation between women in leadership roles and improved financial success and organizational performance. Although historically corporate boards have been male-dominated, there has been a gradual shift towards increased female representation on corporate boards globally. However, challenges persist, particularly regarding the delicate balance of attitude and competence, which remains uniquely challenging for women directors.

?In various regions, legislative measures that promotes quotas or voluntary action that promotes collaboration and accountability have been promoted or implemented to address gender imbalances on corporate boards. In the Caribbean, the Jamaican Parliament suggested a 30% quota for women in public positions, leading to incremental improvements in female representation on corporate boards.? There are lessons to be learned from this model and with regard to the voluntary action the case study of the European Union and the UK can provide some lessons learnt in this regard.?? Whether a country decides to use the former or latter approach to gender balance, culture and context must always be considered in the implementation of the chosen model.?

?Women on boards have been stereotyped as being inadequate for top leadership positions. An important part of this dynamic is exploring how their male counterparts assess their senior female colleagues. Perception plays a significant role in women's advancement on boards, with stereotypes often undermining their suitability for leadership roles. In industries where the leader of a board is expected to take an uncompromising line, there may be causalities of career injury or the demise of an organization, women are perceived as second guessing themselves in the wake of a clear decision. Therefore, effective teamwork and mutual respect amongst female and male board members is the key to women being perceived differently.

Despite progress, women often feel tokenized and marginalized on boards, with their voices and contributions undervalued. Biases within the workplace extend to boardrooms, where a women's authority is frequently questioned, and women face a double bind between being perceived as assertive or aggressive, and/or quiet or passive. Expecting women to conform to masculine traits while maintaining warmth and femininity stifles their authenticity and detracts from the board's collective intelligence. Addressing these challenges requires proactive measures such as fostering a culture of inquiry, amplifying qualifications with facts, and promoting inclusive board cultures.

Despite the obstacles, prioritizing women's participation on boards is crucial for leveraging diverse perspectives. Holistic approaches to board appointments, structured onboarding processes, and mentorship opportunities can facilitate women's integration and visibility in corporate governance.

?Intentional efforts from companies and board members are necessary to overcome gender-based barriers and achieve true gender parity in corporate governance. Embracing inclusive boardrooms where diverse voices are valued is essential for driving organizational success and societal progress.

Connect with other professionals in your field, attend conferences, and join professional organizations to expand your network.

?Addressing and managing conflicts is an integral aspect of any board's success, and this holds especially true for women on boards who bring diverse perspectives and experiences to the table. Conflicts can arise from various factors, new board members energy vs older board members weening energy, including differences in opinions, communication styles, and personal or professional interests. However, tackling conflicts head-on can lead to constructive outcomes and strengthen board dynamics.

?Here are a few tips for the Woman who aspires for the boardroom:

?Improve public speaking, negotiation, and listening abilities as a board member.

1. Push for increased representation of women on boards.
2. Gain insights from experienced professionals to navigate board dynamics.
3. Continuously educate yourself on industry trends, regulations, and best practices.
4. Be proficient in interpreting financial data and share your knowledge with others.
5. Advocate for diverse perspectives and inclusion of women, minorities, and individuals from different backgrounds.
6. Confidence is key to making a meaningful impact and earning respect from fellow board members.
7. Take on leadership roles within your organization or community to grow your abilities.
8. Foster mutual respect and collaboration among board members.
9. Attend workshops, conferences, and training sessions to expand your knowledge and skills as a board member.