Research has clearly demonstrated improved financial performance when there is a more equal gender mix throughout the organisation and in particular on boards.
Boards should remember that recruitment is a two way process: it’s not just appointing women to join the existing board but importantly for the board to make membership an attractive career option.
I think the initiative to have reward transparency is very positive – once organisations are required to be open about salaries and associated rewards, this should provoke people to question the approach used to decide how rewards are allocated, ensuring the issue is debated widely.
Reporting on diversity – gender just being one aspect – is key here.
Having an executive with responsibility for the company approach, strategy and drive for diversity and inclusion is very important.
However, this only works where this individual has visibility and credibility within the organisation and s/he can influence and promote such a policy.
Diversity and inclusion can never be the responsibility of one individual, they are an intrinsic part of the way a company operates.
Linking bonuses to diversity targets may be one way of addressing diversity issues in the financial sector.
I am sure those who are compiling the report are considering other options and it would be fascinating to know what they are.
Women are successfully gaining roles as trustees and on many boards in a voluntary capacity.
They are increasing their skills and experience, recognising the transferability of their skills and the value they bring.
However, there is some but not enough progress in women being appointed to non-executive roles and a disappointing small number of women gaining executive positions. There is still a way to go to achieve equality.
Source: The C Suite
Proponents of pay-transparency legislation say it creates accountability, and remedying pay gaps in individual organisations starts with understanding how dramatic they are. Overall, the picture is clear: women who work full-time in the US still only earn around 83% of what men do, a figure that has hardly moved in recent years, and black and Hispanic women earn less than white women.
In the wake of George Floyd’s murder, corporate interest in DEI is higher than ever. But has this increased attention racial justice and inequity led to real, meaningful change? The authors conducted interviews with more than 40 CDOs before and after summer 2020 and identified four major shifts in how these leaders perceived their companies’ engagement with DEI.
Mid-career women are often surprised by the levels of bias and discrimination they encounter in the workplace, especially if they’ve successfully avoided it earlier in their careers. After speaking to 100 senior women executives, the authors identified three distinct kinds of bias and discrimination faced by mid-career women. They describe each bias and conclude with recommendations for overcoming them.