It’s 3,138 days since Barrack Obama was inaugurated as the 44th President of the United States of America. Progress is being made to make the world a fairer, more inclusive society – with same sex marriage legalised in the UK in 2014, followed by the US in 2015.
When we look at the world of business can the same be said? Women only hold 6% of the total 300 jobs in the FTSE 100.
There are still more people called John chairing FTSE 100 boards than there are women.
According to Green Park, 6 of 10 main boards in the FTSE 100 currently have no ethnic minority presence. That’s 62 companies reported having all white main boards.
White women were found to be twice as likely to reach the top three positions in a FTSE 100 company compared to an ethnic minority male, and 20 times more likely than an ethnic minority female. Shockingly there remains no female ethnic minority CEO or CFO in the FTSE 100
So does the old adage “what gets measured gets done”? In part – if you take the targets set for women on FTSE 350 boards, originally set for 25% in 2011 progress has been made with 26% of FTSE 100 boards achieving the goal, but only 22% of the FTSE 350 boards. 15 firms of Britain’s top 350 still have no women on their boards at all. Last year a more stretching target of 33% by 2020 was set.
However many organisations still appear to focus on addressing initiatives in isolation as a tick box exercise to hit the target, rather than adopting an inclusive talent strategy that focuses more improving the talent pipeline of future leaders full stop. If organisations fail to be inclusive, they will fail in the long term.
“When everyone is treated as equal, no matter who they are or whom they love, we are all more free” Barrack Obma