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Women in UK still have a mountain to climb to get into the boardroom but its businesses that are suffering from the lack of women in boardroom
Improving the gender balance on British boards will help businesses perform better according to new research by gender diversity business The Pipeline
Just 4 percent of the UKs biggest stock market list businesses are currently led by women. 15 percent have no women on the board at all. 6 percent of the FTSE 100 companies are led by women. However according to The Pipeline if at least one third of the board is made up of women the business will be more profitable. Indeed the profit margin will be more than 10 times greater.
The reason put forward by The Pipeline for the much better business performance is that the board is more able to understand their customers.
Women Count 2020 The Pipeline report
Retail sector new recruits are 80 percent women but they do not make it to the boardroom. More diverse boardrooms lead to a better understanding of threats and opportunities. Better business decisions can be made that improve overall business performance.
Women only fill 12 percent of the highest paid jobs in the UK according to the UK Statistics Authority
What can be done about so few women being employed in high earning jobs?
Some reports suggest time will take care of this gender pay problem. Women are paid more in the age group to 35. As these women grow older, they will fill the posts vacated by retiring men. Not much comfort for older men at work in the UK, but the age of women on top is only a couple of decades away. Having waited this long, maybe that is not too long to wait now.
The UK Statistics Authority 2016 survey put the gender pay gap between full-time workers at 9.4 percent and 18.1 percent between all workers given the greater number of women working part time. Women now represent 23.5 percent of board positions across the FTSE 350 up from 9.5 percent in 2011.
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