Women on Boards: One-Year-On
- Published on Tuesday, 13 March 2012 09:48
- Posted by Scott Buckler
Lord Davies of Abersoch today publishes the first annual progress report on his ground-breaking review of Women on Boards
One year on, Lord Davies and his review panel report a growing recognition of the benefits gained by business, the economy and society by appointing more women to decision-making roles. This understanding is reflected in the unprecedented pace of change seen in the make-up of UK boardrooms.
Lord Davies said:
“I believe that we are finally seeing a culture change taking place right at the very heart of British business in relation to how women are seen within the workforce.
“Some excellent work has taken place and I want to take this opportunity to thank the many Chairmen, Chief Executive Officers, business organisations, training providers, networks, journalists and individual business men and women whose commitment to this issue remains unstinting. However, I must also emphasise that efforts need to be ramped up and the speed of change accelerated if we’re to avoid Government interference.”
Secretary of State for Business, Vince Cable said:
“Increasing female board representation is a win-win proposition for business. Well-balanced boards with broader experience introduce fresh perspectives and new ideas, which help improve performance and boost productivity.
“This report provides real evidence that business is taking the issue of board diversity seriously and is working to bring about the necessary changes. It demonstrates why we don't think quotas are necessary at the moment as the UK is making the voluntary approach work.”
Between 2008 and 2010, the number of women directors had effectively plateaued, stalling at less than a single percentage point rise year-on-year. However, in the twelve months since Lord Davies’s report was published, the largest-ever annual increase in the percentage of women on boards has been recorded.