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Female representation on boards is only one aspect of an overall move to boost diversity across organisations, not just for the sake of equality but in order to drive real business benefits
The final ‘Women on Boards’ report highlights the way in which FTSE companies have stepped up to the challenge of increasing female representation across the UK’s boardrooms. When he started out five years ago Lord Davies set a challenging target of 25% female representation in FTSE 100 companies and the fact that this was achieved with six months to spare is testament to his tireless work in this area.
Commenting on the success of the project Nicky Morgan, the Minister for Women and Equalities, said “Lord Davies has been an inspirational champion; he has thrown the gauntlet down to business and pushed them to do more than ever before.” Although this is his final report, Lord Davies has made five recommendations which are designed to further improve diversity. Chief among these, is a further stretching target of 33% female representation in the boardrooms of FTSE 350 companies. However, success will depend on organisations moving the diversity agenda into executive and leadership levels in order to ensure that women have the chance to gain relevant experience.
But female representation on boards is only one aspect of an overall move to boost diversity across organisations, not just for the sake of equality but in order to drive real business benefits. Commenting on Lord Davies’ report KPMG Vice Chairman Melanie Richards said “Identifying and promoting diversity will deliver real benefits for business, both financial and non financial. By tackling homogeneity, boards should make more robust, balanced decisions and no longer run the risk of echoing the voices of the few.”