By Yasmine Chinwala
Yasmine Chinwala, the new article’ author deals about the diversity in boardroom. She has seen a significant increase in the number of women in Board of Directors in United Kingdom.
When the movement thrives, it should be pointed out”
“Not a week goes by without headlines about the growing recognition of the importance of women on boards. The figures in the UK at least are promising: women now hold 16% of FTSE 100 board positions, up from 12.5% last year.”
“In the light of such positive news, and with gender diversity making headway on the corporate agenda, the findings of the fifth annual Financial News Women in Finance survey are sobering. Of the 650 female respondents to the survey, all of whom work in the financial services industry, two thirds said their gender made it harder for them to succeed and a similar proportion said they felt they needed to work harder than male counterparts in order to be viewed at the same level of achievement by managers.
Ruth Grant, a litigation partner and co-chair of the diversity committee at law firm Hogan Lovells, said: “There is a mismatch between what’s being done and outcomes. There is a difference between management having projects and structures that they put in place and actually embedding those ideas into the corporate culture and how the business makes them part of the daily life and DNA of an organisation.”
The survey results are a timely reminder that, while top-level management of financial firms is largely convinced that change is necessary and has begun to implement programmes, there is still more that needs to be done. The challenge, particularly in depressed market conditions, is keeping gender diversity on the priority list.
Helena Morrissey, chief executive of Newton Investment Management and founder of the 30% Club, which has had notable successes encouraging chairmen to bring more women into board roles, said: “There has been a very long, slow burn over the understanding of gender imbalance, but a sharp pick-up and growing momentum for change over the past 18 months. The financial services sector, and especially bigger companies, are trying very hard, partly in an attempt to rehabilitate their reputation. It is a paradigm shift for many people.” …
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