The average proportion of women in the boardroom of Britain’s biggest businesses has declined to 32 per cent.
According to Pipeline’s Women Count study, the percentage of female CEOs in the FTSE 350 is still only 9 per cent, hardly changing in the past eight years. Despite making up 44 per cent of chartered accountants, women only make up 18 per cent of CFOs.
To further highlight the persistent gender gap in corporate leadership, only 19 per cent of commercial boardroom roles—important stepping stones to CEO and CFO positions—are filled by women.
The report emphasises how men continue to predominate in leadership jobs even though women make up half of the workforce in the UK. The Pipeline emphasises that there is no room for complacency, particularly given that businesses that prioritise gender equity have a 60 per cent higher chance of experiencing increased productivity and profits. Women are outperforming males in higher education, so companies need to actively assist and encourage more women to take up leadership roles rather than blaming a lack of talent.
The Pipeline chair Professor Geeta Nargund says: “It is unacceptable that gender representation in business leadership is moving backwards in 2024; the same year which has seen our new Government’s Cabinet almost achieve gender parity, and a record number of female MPs elected to Parliament. With our nation’s leadership making vital progress in women’s representation, we now need to see this better reflected across all sectors and industries.
“Female leadership is good for business. Organisations which are performing the best in terms of gender parity are 22 per cent more likely to have improved profits versus those that perform the worst. Gender parity means economic prosperity, and so fair representation is not just a ‘nice to have’ or a tick-box exercise – it is a business imperative.
“Now is the time for action from businesses and leaders alike to initiate real change. And alongside promoting and investing in female leadership, employment policy changes to improve workplace conditions – such as flexible working and parental leave policies – across the workforce will be essential in helping women progress. After all, gender parity will not only pay dividends for organisations; but it also upholds the fundamental principles of a diverse and modern society.”
The Pipeline CEO Liz Stanley says: “Our findings are unequivocal; the situation is getting worse rather than better. The drop in female representation on the executive committees of Britain’s biggest businesses highlights just how fragile any previous gains have been.
“There is no room for complacency. We simply cannot afford for businesses to lose focus or pay lip service when it comes to promoting and supporting women. The pace of progress had already been glacial. We know that having women on executive committees is good for business – so it has to be a strategic imperative for all organisations. Gender parity should not be something we have to wait generations for: and if this is taken seriously now, we won’t have to.”
