FROM THE 30% CLUB
Progress On Non-Executive Directorships – Inevitably Not Yet Matched By Executive Pipeline
Development of senior female talent is a key longer term goal and a growing priority for companies
29th August 2012, London The 30% Club believes the only way to achieve better gender balance at all levels in the UK’s leading companies is to ensure the pipeline of female talent is developed from an early stage. In light of recent commentary on the lack of progress at the Executive Board level, the group argues that a concerted effort to develop the pipeline of female talent UK plc will help achieve better gender diversity in senior roles at UK companies.
Helena Morrissey, CBE, CEO of Newton Investment Management and Founder of the 30% Club commented:
“Executive roles require years of career development in specific areas, for example, a Chief Financial Officer clearly needs considerable technical skills built over a relatively long period of time. The fact remains that too few women have historically stayed the course to build up a rich and deep pipeline. The 30% Club is working on a number of specific initiatives to develop the future generation of senior female talent. For example, we are working with a group of leading professional firms (lawyers, accountants and consultants) where the female attrition rate is particularly high between graduate intake and partner levels, to diagnose and attempt to solve this situation. Progress is being made, but it requires patience and will not happen overnight.
“Applying quotas to the boardroom simply won't result in a sustainable, meaningful change in the proportion of women in executive roles - instead, the change will follow from concerted efforts to encourage more women to continue with their corporate careers. With the spotlight firmly on the issue, and with many companies determined to transform their business cultures and develop their female talent, we are confident success will be achieved.”
Development of senior female talent is a key longer term goal and a growing priority for companies
29th August 2012, London The 30% Club believes the only way to achieve better gender balance at all levels in the UK’s leading companies is to ensure the pipeline of female talent is developed from an early stage. In light of recent commentary on the lack of progress at the Executive Board level, the group argues that a concerted effort to develop the pipeline of female talent UK plc will help achieve better gender diversity in senior roles at UK companies.
Helena Morrissey, CBE, CEO of Newton Investment Management and Founder of the 30% Club commented:
“Executive roles require years of career development in specific areas, for example, a Chief Financial Officer clearly needs considerable technical skills built over a relatively long period of time. The fact remains that too few women have historically stayed the course to build up a rich and deep pipeline. The 30% Club is working on a number of specific initiatives to develop the future generation of senior female talent. For example, we are working with a group of leading professional firms (lawyers, accountants and consultants) where the female attrition rate is particularly high between graduate intake and partner levels, to diagnose and attempt to solve this situation. Progress is being made, but it requires patience and will not happen overnight.
“Applying quotas to the boardroom simply won't result in a sustainable, meaningful change in the proportion of women in executive roles - instead, the change will follow from concerted efforts to encourage more women to continue with their corporate careers. With the spotlight firmly on the issue, and with many companies determined to transform their business cultures and develop their female talent, we are confident success will be achieved.”