Member News
24th February 2011
The publication of Lord Davies' report into women on boards will be welcomed by "nervous businesses", says Ruth Spellman of the Chartered Management Institute.
The news that companies will not be forced to promote female workers to the boardroom by quota will be widely welcomed by nervous businesses.
However, a concerted effort still needs to be made to use female talent, otherwise companies will be missing out on a vast array of talent at their disposal. In 1974, when sex discrimination was first outlawed, only 2% of the workforce was female and today this figure has swelled to 45%. Such growth may be seen as a revolution, but the truth is far closer to a snail-paced evolution as the figures for women in the boardroom lag far behind.
Reasons may include the power of the old boy's network or a lack of self confidence. Whatever the explanation, companies need to embrace the two years afforded by Lord Davies' report in order to fulfil their duty to train and encourage women to reach the very top.
It's easy to see why so many women believe the 'glass ceiling' still exists when there are so many inequalities. Our own research shows that equal pay for men and women won't be in place until 2067.
It's yet more evidence that the glass ceiling has been reinforced and another reason for it to be torn away to create parity between the sexes. Put simply, if action is not taken, equality will continue to be an issue stifling British business at the very time it needs the diversity to grow.
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