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New research from YSC in collaboration with KPMG on a gender intelligent approach to developing male and female corporate leaders

December 10 2013, London - At a launch event held in London today, The 30% Club’s ‘Balancing the Pyramid’ Group, business psychology consultancy YSC and professional services firm KPMG released the first stage of their new research aimed at understanding the gender profile of UK companies. The study has debunked some of the myths about how women progress to the very top and aims to give practical and constructive advice to companies on how to update their gender intelligence.

To date, a cross section of companies across the FTSE 100 and FTSE 250 have been surveyed, totalling over 450,000 employees, both male and female. KPMG’s initial findings are encouraging and show that there is on average 21% female representation at surveyed FTSE 100 organisations at Executive Committee level, with 25% of organisations achieving 30% female representation. However, KPMG also found that a man starting his career with a large FTSE 100 UK company is still 4.5 times more likely to make it to the Executive Committee than his female counterpart.

While the full analysis and report will not be finished until early next year the initial findings from YSC suggest the need to update our expectations about the similarities and differences in the pattern of men’s and women’s careers. For instance:

1. Overall, men and women are equally ambitious. However, women’s ambition is a slow burn. Women tend not to show the same level of ambition early but this exponentially lifts by the time they reach executive levels. So companies need to consistently reassess career options for women, particularly when male peers are more overt about aspiring over a longer range.
2. The rhythm of women’s careers appears to be different to their male counterparts. Women seem to make more lateral moves than men over the same time span with a mid-life career surge. This can result in senior female executives having broader experience than senior male executives with implications for their selection onto Boards.
3. Although nearly twice as many women than men work under formal flexible working arrangements, women are sensitised to the promotion-limiting implications of such arrangements. Where possible, women prefer individual autonomy to create a working pattern that accommodates the demands of their lives. An intrinsically challenging role and the personal support of direct line management was found to be their preferred operating mode.
4. Authenticity is key to women’s leadership. By the time women reach executive committee level, they are far more comfortable being themselves as opposed to self-managing to meet gender expectations. So diverse executive teams perform better when every leader can be themselves.

The study also revealed a shift in how male and female leadership is currently valued within corporate environments. The vast majority of positive leadership behaviour is viewed as identical in men and women. Some stubborn pockets of stereotyping remain. Women are more frequently described as providing values-based leadership, while men continue to be rated more frequently for their commercial acumen and logical-rational approach to problem-solving.

The study’s key takeaways for companies, while still in the early stages of findings, are constructive. An environment for ‘leaning in’ is relatively low cost to create. The quality of line-management proved a bigger boost to women’s commitment than formal development programmes, sponsoring, mentoring and executive coaching. Women in the study were clear that transparency would be helpful for them to see when male and female executives at the top were balancing multiple priorities in their life, ie grappling with the same challenges as women lower down the pipeline.

Minister for Women and Equalities Maria Miller said: “This research provides a great insight into women’s experiences in the workplace. It goes without saying that men and women are different. The workplace was designed by men for men but times have changed and if we want women to be able to fulfil their potential – we need to modernise the workplace. The Government is playing its part but this is also about a culture shift and we need to support and encourage employers to put the right measures in place: nurture talent, create more inclusive workplaces, and drive greater transparency.”

Helena Morrissey CBE, CEO of Newton Investment Management and Founder of the 30% Club said: “Men and women are different - equally intelligent but we behave differently and are motivated by different things. This new research gives more depth to the intuitive argument that balanced teams perform better, and gives companies specific actionable ideas to improve their management of all talent – regardless of gender”.

24th November 2013

Women in Fund Management

The findings of the FTfm survey into the experiences of women in the fund management industry make for sobering reading. It is depressing that in the 21st century so many women report sexism in any workplace, let alone my own industry. The survey results are not, however, entirely surprising. There is an overt commitment to create an inclusive environment at most firms, but we all know it takes a long time to change deeply ingrained behaviours.

The expected standards are also considerably higher than when I joined the market 25 years ago.

Attitudes towards women, ethnic groups and other “minorities” have definitely improved across the whole of society since then. Some of my male friends and colleagues remind me – encouragingly, rather than resentfully – that “women have never had it so good”.

Certainly over the past three years since the 30% Club, which campaigns to bring more women on to boards, was established and the publication of the Davies report, I have felt increasingly optimistic that the pace of real change is accelerating. The survey suggests that the distance still to travel is greater than I hoped, but I see this as a call to more action, not a reason to despair.

In all honesty, my main concern is that the findings may put young women off joining our industry. That would both exacerbate the problem and be a great shame; not only do we need a better gender balance to shift the culture, but fund management can undoubtedly be a great career for women – and good for clients.

Rothstein Kass, a consulting firm, has developed a “women in alternatives” index to measure how female hedge fund managers fare. The results suggest their funds often perform comparatively well. The latest Rothstein Kass study was completed in September 2012, when the WIA index was up 8.96 per cent year to date versus 2.69 per cent for the Global Hedge Fund Index – and women were also ahead over five years.

Women’s relative aversion to risk and tendency towards conscientious analysis are ideal attributes for successful fund management.

Meanwhile, the wonderfully objective measurement of portfolio performance means that good ideas, not necessarily long hours, are rewarded – ideal for those of us with families or frankly for anyone who wants to live a full life.

I fell into fund management after studying philosophy at university and now realise I have been lucky to be able to think and contribute any time, any place, anywhere in the world, rather than work in a transaction-orientated, chained-to-the-desk profession. It is tremendously varied and stimulating work, too, and you can become senior and respected through results, rather than playing office politics.

So how can we break what appears to be an impasse: a male-dominated culture apparently creating an uncomfortable environment for many women, leading them to withdraw to such an extent that they are simply not going to have the power to change things? While it may not seem fair to ask the women to take the first step, it is essential that women do not let their discomfort beat them down.

It is a cliché, but my top tip for women wanting to progress is to be true to yourself, to use your distinctiveness to stand out, rather than to feel any need to suppress your personality or femininity. Never hide or try simply to fit in, particularly in asset management, as a great fund manager is not like everyone else.

Sadly, the survey results suggest that women in our industry are too scared of retribution to speak up. While I can truly emphasise, if you do not say anything, it is very hard for your company to address poor behaviour. It is not your fault, and you cannot be expected to correct the problem, but you must say what is happening.

I think you will be surprised how receptive your company is; human resources teams in particular know they must listen and act.

I learnt early on that people would make, and still do make, assumptions about me because I am a woman. While I hated doing it, I learnt to either speak up or just beat the other person in the market – a great leveller.

Companies, meanwhile, should take these survey results seriously. They should not just assume the findings are about another organisation. We all need to look again to ensure the working environment we have created is safe and that everyone, not just women, knows who they can turn to if they need to escalate a problem.

Helena Morrissey CBE is chief executive of Newton Investment Management and founder of the 30% Club

NEW YORK, LONDON, July 10, 2013: Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, released its latest study, “Mining the Metrics of Board Diversity” today. Findings show how the progression of women on boards has increased gradually over the past five years but that, on average, companies with mixed-gender boards have marginally better, or similar, performance to a benchmark index, such as the MSCI World, particularly over the past 18 months. Whereas, on average, companies with no women on their boards underperformed relative to gender-diverse boards and had slightly higher tracking errors, indicating potentially more volatility.

“Mining the Metrics of Board Diversity” reveals how the progression of women on corporate boards has changed over time, region and by sector, and whether gender diversity helps drive stock performance. It also looks at the proportion of companies with processes in place to drive diversity and equal opportunity. The study can be accessed in full here. Key findings include:

• Indices of companies with mixed gender boards have, on aggregate, marginally better or very similar performance to a reference benchmark. Companies with no women on their boards underperformed, on average, relative to gender-diverse boards.
• Adoption of policies and processes to promote gender diversity and equal opportunity increased from 64% in 2008 to 66% in 2012, and is particularly high among the Americas, even without legislation or quotas.
• Local legal requirements appear to have had a greater impact in the adoption of policies to improve gender diversity in companies, rather than media related controversies.
• Global trends indicate a gradual increase in the percentage of companies that have women on their boards with 59% of companies reporting women board members, up from 56% in 2008.
• Only 17% of the companies analyzed report having a board consisting of 20% or more women (13% in 2008); 45% report boards of 10% or more women (39% in 2008).
• From a regional perspective, EMEA has the most women on corporate boards followed closely by the Americas, while companies in the Asia Pacific region report having the least gender-diverse boards.
• Sector trends indicate that companies within the Technology, Industrials and Non-Cyclical Consumer Goods & Services sectors lead in having the most gender-diverse boards, while Healthcare companies have the least.

“Over the past five years significant measures have been put into place to help increase equal opportunity and diversity and while there has been a gradual increase in the percentage of companies that have women on boards, there is still a long way to go, says Andre Chanavat, product manager, Environmental, Social & Governance (ESG) at Thomson Reuters. “This study suggests that the performance of companies with mixed boards matched or even slightly outperformed companies with boards comprised solely of men, further reinforcing the idea that gender equality in the workplace makes good investment and business sense.”

“Mining the Metrics of Board Diversity” analyzes the level of gender diversity on corporate boards compiled from 4,100 public companies globally, using data from Thomson Reuters ASSET4 universe which provides objective and transparent environmental, social and governance (ESG) information. In addition, it raises the questions of what needs to be done for companies to hire more women to corporate boards.

This study complements Thomson Reuters “Women in the Workplace” analysis of February 2012, which revealed that corporations were doing more to track the number of women they employ. Furthermore, those corporations that recorded more women at managerial levels appeared to benefit from healthier share prices in times of market turmoil. Click here for a copy of this earlier report.

Thomson Reuters ASSET4 ESG database provides in-depth environmental, social and governance information enabling socially responsible investment analysis. The ESG database contains information on 4,300+ global companies and over 750 data points covering every aspect of sustainability reporting. For more information, go to http://thomsonreuters.com/esg-research-data/

Thomson Reuters
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world’s most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs approximately 60,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to thomsonreuters.com.

Accelerating the pace of change towards better gender balance worldwide

July 1st 2013, London

At its first global summit held in London today, The 30% Club showcased the collaborative concerted approach that has accelerated progress towards more women on UK boards. The event, attended by representatives from the US, Canada, Hong Kong, Ireland, the Netherlands, Belgium, Norway, France, Australia, Switzerland and Germany, explored global levers of faster change to achieve more women at top levels around the world.

As part of its efforts to accelerate the progression of women in the pipeline, The 30% Club also announced a new fully funded Executive MBA Scholarship in partnership with Henley Business School. The Henley Business School & The 30% Club Women in Leadership Scholarship, in association with The Financial Times, is in support of The 30% Club’s new Balancing the Pyramid initiative which aims to encourage and increase the female gender balance at all organisational levels. The recipient of this full scholarship, normally £34,000, will be the winner of an essay competition titled ‘What are the key challenges to creating a gender balance at all levels in organisations’ judged by a distinguished panel (application details are available on both The 30% Club and Henley Business School websites).

In recognition that the need for better gender balance is a global one, The 30% Club is expanding internationally: a 30% Club launched in Hong Kong in March 2013 with 41 founding local Chairmen members at a reception attended by the Chief Executive of Hong Kong, the Honourable Mr CY Leung. The summit heard from Su-Mei Thompson, CEO of The Women’s Foundation and Founder of The 30% Club HK, who said: “Our launch was driven by a realisation that greater diversity at executive and non-executive levels leads to more effective decision-making, enhanced customer affinity and better business performance. The Hong Kong Stock Exchange’s introduction of new board diversity policy disclosure requirements for listed companies in conjunction with the launch of The 30% Club HK are a powerful impetus for change.

“That we were able to launch so quickly is testament to the learnings and networks which the UK’s 30% Club generously shared with us. I believe their collaborative and supportive approach will be a significant asset as The 30% Club continues to drive the momentum for change globally.”

A Southern Africa 30% Club is expected to be launched soon, with further Clubs planned for later in 2013 in the US, Canada and Ireland.

Helena Morrissey CBE, CEO of Newton Investment Management and Founder of the 30% Club said: “We have seen significant progress over the past three years through the UK’s voluntary business-led approach, with men and women working together to effect change. Today’s summit aims to create the impetus for global, sustainable change.”

The summit explored the present situation in different parts of the world, including Norway, where quota legislation for gender balance on boards has failed to translate into more women in senior executive roles, and North America, where progress has stalled without a clear objective – over the past 18 years the percentage of women on the boards of Fortune 500 companies has increased at less than half a percentage point per year, from 9.6% in 1995 to 16.6% today*.

Australia was highlighted as a positive example of the potential impact of a ‘comply or explain’ voluntary approach, having seen a high level of percentage increase in female appointments. From a low base of 8.4% in 2009 the percentage of board positions held by women has grown by two-thirds to 14% in March 2013**.

The conference then explored potential levers of global change. A self-reinforcing and seamless cycle can be created through a joined-up approach by executive search firms, investors, asset owners and board effectiveness reviewers. These are global industries and organisations and there need be no frontiers to their approaches. The blueprint set out by the Davies Committee in the UK in February 2011 can be replicated and modified to suit local cultures.

Lord Davies, speaking at the evening reception, said: “We are making great progress but we must keep the pressure up internationally. The 30% Club is doing a great job.”

Minister for Women and Equalities Jo Swinson said: “It is vital that we continue to improve the representation of women both on company boards and in the pipeline for senior positions. We simply can’t afford to lose out on the talents and skills of over half the population. To do that, we need to encourage and support employers to put the right measures in place: ensuring we are nurturing talent, creating more inclusive workplaces, and driving greater transparency.

“It is great to see The 30% Club spread its message to other countries – it is only by working together that we will drive through change. Women have secured nearly 40% of FTSE 250 board appointments in the UK since March this year and 50% of these are at executive director level. More importantly this is being achieved as a cultural shift rather than through mandatory quotas. The government has also set out a series of key actions in response to the Women’s Business Council report to help support women at all stages of their careers.”

Two new collaborative projects to balance the pyramid at all organisational levels and mentor hundreds of mid-career women

April 18th 2013, London

The 30% Club has announced the launch of two new initiatives to intensify efforts aimed at accelerating the progression of women in executive careers, following the release of disappointing data issued by Cranfield and the Davies Committee last week.

The 30% Club’s Balancing The Pyramid Project, led by Pavita Cooper of The 30% Club Steering Committee and supported by an initial group of 16 companies, is aimed at accelerating progress towards 30% women at all levels of companies. The Project will complement existing programmes both within The 30% Club and more broadly. As well as collating data across companies to enable the measurement of progress at all career points, the project will involve a new scientifically-based study of behavioural differences between men and women, with a view to facilitating more gender-intelligent skills development. It will also devise new pre-employment initiatives to encourage young women at the start of their careers.

A new 30% Club Mentoring Scheme is also being piloted. Developed in conjunction with Ernst and Young and spearheaded by Joanna Santinon, an Ernst & Young Partner, this new scheme is aimed at enabling hundreds of talented mid-career women to benefit from cross-company mentoring, an opportunity that until now has been reserved for senior executives.
Speaking at a 30% Club seminar held in London today, ‘Accelerator Steps for Female Talent Development’, Helena Morrissey CBE, CEO of Newton and Founder of The 30% Club, described these twin initiatives as part of a concerted and necessary series of actions.

“Last week’s Cranfield Report showed that not only is progress slowing around the appointment of women executive directors to boards, but little progress is being made on executive committee appointments too. This is despite many efforts by many individual companies over a number of years.

“The 30% Club enables organisations to collaborate so we can better understand and solve this problem together. Our first project in this area focused on professional services firms where few women make partner even though graduate intake levels are balanced - a man joining a top City law firm is ten times more likely to make partner than a woman. That project, facilitated by McKinsey, and publicised for the first time today, shows that many of the obstacles relate to broader culture and established practices that need modernising - for example, these firms need promotion systems that recognise output not input. The data, collected from 700 participants across 17 firms, also confirms that women and men respond differently to both challenges and opportunities. It has been exciting to see how these organisations have already been addressing these issues.

“Today’s seminar has highlighted some practical steps that all companies can already take and new ideas to finally achieve better gender balance – not for its own sake, but because it’s clear that mixed teams perform better. If we are really going to accelerate progress at all levels, both companies and women have to ‘lean in’ and focus firmly on how to achieve change.”

Joanna Santinon, a partner at Ernst & Young who is spearheading the initiative with the 30% Club, said:

“Professional working women have told us they face multiple barriers on their rise to the top. Ernst & Young are proud to be working with the 30% Club on this flagship cross-company mentoring scheme, that could give hundreds of high-potential working women access to influencers and stakeholders who can coach and sponsor them into critical board-level roles.”

Minister for Women and Equalities Maria Miller concluded:
“Ensuring that women reach the top of our companies is not about political correctness– it’s simply good business sense. If we are to maximise Britain’s chances of economic recovery then we must act now to ensure we are making the most of everything women have to offer, and that means progressing the development of talented females at all levels, not just the boardroom.

“We have more women in work than ever before and the gender pay gap is falling but whilst Lord Davies’ and Cranfield’s latest reports show we are making progress when it comes to women’s representation in senior positions, there is still more to do. The executive pipeline continues to remain a challenge and that’s where we need to focus our efforts to make lasting change.

“I applaud the work of the 30% Club and the new initiatives like Balancing The Pyramid and the new mid-career Mentoring Scheme that will help us to refocus our efforts on unlocking the untapped potential of women across the workforce, priming the talent pipeline and bringing sustained benefit to the British economy in the longer term.”

—-ENDS—-
#30percentClubAccelerate
For further information, please contact:
Gay Collins, MHP Communications +44 20 3128 8582/07798626282
Toto Reissland-Burghart, MHP Communications + 44 203 128 8100
Jamie Brookes, BNY Mellon +44 20 7163 2146/07769900417
Email: [email protected]

Please click here to view a short film on the 30% Club.

4th July 2012

The 30% Club celebrates over 50 Chairman supporting the campaign and just 145 more FTSE 100 female board members to achieve 30%

Last night saw David de Rothschild host a celebration to mark over 50 Chairmen signing up to support the 30% Club’s diversity initiative. This represents a milestone in the Club’s history, which set out in 2009 to increase women on UK Corporate boards to 30% through a business-led approach. The event, attended by supporters including the Home Secretary The Rt Hon. Theresa May, Centrica Chairman Sir Roger Carr and Lloyds Chairman Sir Win Bischoff, also celebrated the sharp acceleration in the pace of female Board appointments. Since March 1st 2012, 44% of FTSE 100 and 40% of FTSE 250 Board appointments have gone to women, compared with 30% in 2011 and just 13% in 2010*. This leaves only 145 more female FTSE 100 appointments needed to reach the 30% target, and 91 to reach Lord Davies’ 25% figure*. At the end of June the figures for FTSE 100 had increased to 16.7% of women on their boards (up from 12.5% in 2010), and all-male boards are now down from 21 to 8 (since 2010)*. Amongst the attendees was a host of supporting FTSE Chairmen including those of Marks & Spencer, Deutsche Bank, Deloitte and HSBC along with former President of the CBI and Chairman of UBM, Dame Helen Alexander and Baroness Sarah Hogg, Chairman of the Financial Reporting Council. Other items on the agenda ranged from the continuing drive for more diversity to the ever increasing need for ongoing cultural adaptation in the workplace. The 30% Club highlight the need for men, as well as women, to adapt and evolve as technology enables differing working practices. It is evident that successful businesses need more senior women but changes in working environment are necessary to enable companies to achieve this effectively.

Home Secretary and Minister for Women and Equalities Theresa May said:

“I’m delighted to help the 30% club celebrate this significant milestone. The fact that over 50 Chairmen are now supporting this initiative shows that diversity in the boardroom is increasingly becoming a mainstream idea. More women on a company’s board is not just good for society; it’s also good for that company’s bottom line.”

“An ever-growing number of businesses are realising this and – voluntarily – taking action. There is still a long way to go, but it’s heartening to see the enthusiasm with which so many companies are embracing change and putting women at the heart of our economic future.”

Helena Morrissey, CBE, CEO of Newton Investment Management and Founder of the 30% Club commented: “The sharp acceleration in the proportion of new appointments going to well-qualified women shows that companies are embracing change and recognising that a well-balanced board enhances all areas of their business. Diversity of boards and senior management teams is one element that will bring cultural change in order to build companies with more effective and responsible approaches to clients, shareholders and employees.” “Although these figures are encouraging, if companies want more women at senior levels, they will have to be open to embracing practices which accommodate the expectations of their staff as well as their stakeholders. Technology can facilitate companies creating a working environment that will enable employees, of either gender, to feel able to succeed while respecting other areas of their lives.”

*Professional Boards Forum “BoardWatch” – 26th June 2012

The appointment of women to FTSE 350-listed non-executive director roles is being held back by selection processes which ultimately favour candidates with similar characteristics to existing male-dominated board members, according to a new report released today by the Equality and Human Rights Commission.

The report, produced by Cranfield School of Management for the Equality and Human Rights Commission, is the first in-depth study into the appointment process to corporate boards and the role of executive search firms. It follows the recent Davies Review which called upon executive search firms to take on a more active role in increasing gender diversity on FTSE boards.

The report reveals that many chairmen and search firms recognise that gender diversity should be increased at board level. Search firms have introduced a voluntary code of conduct and had some success at getting more women on long lists. But when it comes to short-listing and appointing, successful candidates tend to be those who are perceived as ‘fitting in’ with the values, norms and behaviours of existing board members, who are largely men.

Interviews with senior consultants at 10 leading executive search firms in London, all signatories to the voluntary search code, reveal that search firms are beginning to challenge chairmen and nomination committees when defining briefs. In particular, this includes giving more importance to underlying competencies than their ‘fit’ with existing board members.

The research shows how selection of candidates based on ‘fit’ and previous board experience, rather than competencies, is self-perpetuating. It works against women who have had fewer opportunities to gain previous board level experience and limits the ability of chairmen to broaden the range of skills and experience of their boards.

As well as identifying examples of good practice at executive search firms, the report concludes that a more transparent, professional and rigorous approach to the selection process would allow chairmen and search agencies to appoint more female candidates and encourage more women to consider applying for roles as non-execs.

Baroness Prosser, deputy chair of the Equality and Human Rights Commission said:

“Research shows that diverse boards produce better performance. Many companies recognise this. We commissioned this report to support their efforts to improve the representation of women at board level. However, the often subjective way of making appointments ends up replicating existing boards rather than bringing in talented women who could bring real benefits to individual company performance and ultimately help Britain’s economic recovery.”

Dr Elena Doldor, senior research fellow from the Cranfield International Centre for Women Leaders and lead author of the report commented:

“Our research shows that executive search firms are more willing to play a part in increasing board diversity and we identified a number of good practices in the sector. However, we noticed that search firms tend to focus their diversity initiatives on the first stages of the appointment process. In the later stages of the process, which entails short-listing and interviewing, there needs to be more effort from head-hunters and chairmen to ensure that selection practices remain inclusive. It is at these later stages of the process that the focus appears to inadvertently shift from candidates’ actual competencies to the slippery notion of ‘fit’. Despite increased awareness of the need to diversify boards, there are still default preferences for candidates with certain backgrounds.”

Helena Morrissey CBE, 30% Club founder and CEO of Newton Investment Management said:

“Over the past eighteen months the 30% Club has been pleased to see evidence of considerable progress towards better balanced UK boardrooms. Today’s report suggests that more remains to be done around the recruitment process to further widen the choice of boardroom candidates. As a result we expect the spotlight on this aspect of the issue to further add to the momentum for change.”

The report revealed a lack of consensus among search firms when it came to what qualities are sought in board candidates beyond their experience. This lack of clarity leaves room for shifting criteria and subjective judgement in the appointment process.

Whilst the research revealed good practice amongst certain executive search firms, it also revealed a lack of consensus with regards to the appointment process. To tackle this, the report makes recommendations including:

• as intermediaries in the executive labour market, executive search firms need to set clear definitions as to what is sought from board candidates, beyond their experience.
• executive search firms, chairmen and nomination committees need to review the interview process to make it more transparent, rigorous and professional.
• executive search firms need to invest more time into developing relationships with women in the pipeline who could become executive or non-executive directors later in their careers.
• executive search firms need to carry out regular reviews of the effectiveness of the voluntary code of conduct.

The Commission’s report, “Gender diversity on Boards: the appointment process and the role of executive search firms,” can be found at www.equalityhumanrights.com

-Ends-

For more press information, contact the Commission’s media office on 020 3117 0255, out of hours 07767 272 818. For general enquiries please contact the Commission’s national helpline: England 0845 604 6610, Scotland 0845 604 5510 or Wales 0845 604 8810.

Notes to editors

The Commission’s research was carried out using statistics released in October 2011. Cranfield School of Management’s latest figures show that within the FTSE 100 women now account for 16 per cent of all directorships. Its most recent female FTSE report notes that if current momentum is maintained, female board representation in FTSE 100 companies could reach a record 26.7 per cent by 2015.

The Equality and Human Rights Commission is a statutory body established under the Equality Act 2006. It took over the responsibilities of Commission for Racial Equality, Disability Rights Commission and Equal Opportunities Commission. It aims to reduce inequality, eliminate discrimination, strengthen good relations between people, and promote and protect human rights. The Commission enforces equality legislation on age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion or belief, sex, sexual orientation, and encourages compliance with the Human Rights Act. It also gives advice and guidance to businesses, the voluntary and public sectors, and to individuals. www.equalityhumanrights.com

Cranfield School of Management is one of Europe’s leading university management schools renowned for its strong links with industry and business. It is committed to providing practical management solutions through a range of activities including postgraduate degree programmes, management development, research and consultancy. www.cranfield.ac.uk/som

Cranfield’s International Centre for Women Leaders is committed to helping organisations to develop the next generation of leaders from the widest possible pool of talent. www.som.cranfield.ac.uk/som/Research

For more information or to arrange an interview, please contact: Marie McCormack, Media Relations, Cranfield School of Management on: T: +44 (0) 1234 754425 or E: [email protected]

For more information about the 30% Club, please visit: www.30percentclub.org.uk or contact: MHP Communications
Laura Batty +44 20 3128 8520
Gay Collins +44 7798 626282
[email protected]

Click here for the 30% Club investor group response to the EU Commission consultation ‘Gender Imbalance in Corporate Boards in the EU’ in which we suggest that the voluntary approach to achieving better balanced boards is having considerable success in the UK and recommend that the EU take a similar route, without imposing a quota.

19th April 2012

Today The Times published its “Top 50 Employers for Women” list of the UK organisations that are leading the way in gender equality in the workplace. The list and special supplement are produced in partnership with Opportunity Now, the gender campaign from Business in the Community.

19 organisations that support the 30% Club campaign, to get more women onto UK boards, were listed further demonstrating the commitment to supporting the female talent pipeline in and below the Boardroom.
30% Club Founder, Helena Morrissey, CEO of Newton Investment Management, whose parent company BNY Mellon was also listed, commented:
“It’s vital to focus on the talent pipeline and develop future female leaders for UK boardrooms as well as promoting board ready women today. I’m encouraged to see the organisations of so many 30% Club Chairman featured in The Times “Top 50 Employers for Women” list, underlining their commitment to addressing gender diversity at all levels.”

All organisations within the Top 50 are able to demonstrate that gender equality is an integral part of their business strategy, with consistent commitment to progressing women in the workplace, which covers their entire organisation not just in isolated areas.

David Cruickshank, Chairman, Deloitte and 30% Club supporter commented:
“Deloitte has been a diversity aware organisation for many years and we have an extensive and successful gender diversity strategy. Being listed again in the Times Top 50 list is a proud achievement and serves to not only showcase our diversity programme but also to attract new female talent. Like many of my fellow 30% Club Chairmen, I’m conscious of the responsibility we personally have to increase gender diversity in our organisations and in addition to the programmes we run as a firm for our own people , we’ve created a women on boards programme for aspiring female board members right across the UK.”

Sir Win Bischoff, Chairman, Lloyds Banking Group and 30% Club supporter commented:
“I’m proud that Lloyds Banking Group is included in The Times Top 50 Employers for Women and believe this is testament to our successful gender diversity strategy focussed on attracting, developing and promoting our female talent. We are committed to achieving the Davies Review target and I’m personally dedicated to supporting other FTSE organisation to do the same through my efforts with the 30% Club.”

The full report and Top 50 Employers for Women can be found here:
http://www.bitcdiversity.org.uk/top502012