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| Version 1 | Version 2 |
|---|---|
| Davies report calls for more women in boardroom | Davies report calls for more women in boardroom |
| (40 minutes later) | |
| Firms have been told to more than double the number of women on their boards by 2015, or face government measures. | Firms have been told to more than double the number of women on their boards by 2015, or face government measures. |
| Former minister Lord Davies of Abersoch has urged FTSE 350 companies to boost the percentage of women at the board table to 25% by 2015. | Former minister Lord Davies of Abersoch has urged FTSE 350 companies to boost the percentage of women at the board table to 25% by 2015. |
| But he stopped short of imposing quotas, unless voluntary measures fail. | But he stopped short of imposing quotas, unless voluntary measures fail. |
| The Chartered Management Institute (CMI) said the news would be welcomed by "nervous businesses". | The Chartered Management Institute (CMI) said the news would be welcomed by "nervous businesses". |
| Lord Davies called on chairmen to announce in the next six months their goals "to ensure that more talented and gifted women" get top jobs. | Lord Davies called on chairmen to announce in the next six months their goals "to ensure that more talented and gifted women" get top jobs. |
| "Currently 18 FTSE 100 companies have no female directors at all and nearly half of all FTSE 250 companies do not have a woman in the boardroom," he said. | "Currently 18 FTSE 100 companies have no female directors at all and nearly half of all FTSE 250 companies do not have a woman in the boardroom," he said. |
| "Radical change is needed in the mindset of the business community if we are to implement the scale of change that is needed." | "Radical change is needed in the mindset of the business community if we are to implement the scale of change that is needed." |
| CMI chief executive Ruth Spellman said: "The news that companies will not be forced to promote female workers to the boardroom by quota will be widely welcomed by nervous businesses." | CMI chief executive Ruth Spellman said: "The news that companies will not be forced to promote female workers to the boardroom by quota will be widely welcomed by nervous businesses." |
| "However, a concerted effort still needs to be made to use female talent, otherwise companies will be missing out on a vast array of talent at their disposal." | "However, a concerted effort still needs to be made to use female talent, otherwise companies will be missing out on a vast array of talent at their disposal." |
| Diverse talent pool | Diverse talent pool |
| As well as calling for greater female representation at the top of the corporate ladder, the Lord Davies report asked headhunters and shareholders to sign up to a code of conduct to increase the number of women on candidate lists. | As well as calling for greater female representation at the top of the corporate ladder, the Lord Davies report asked headhunters and shareholders to sign up to a code of conduct to increase the number of women on candidate lists. |
| Other measures put forward include a call for more women to be promoted to executive committees to ensure there is a more diverse talent pool for companies to recruit female non-executive directors from. | Other measures put forward include a call for more women to be promoted to executive committees to ensure there is a more diverse talent pool for companies to recruit female non-executive directors from. |
| "There is a business case, not just an equality case, for better diversity in the boardrooms of UK PLC," said Hay Group's UK managing director, Lesley Wilkin. | "There is a business case, not just an equality case, for better diversity in the boardrooms of UK PLC," said Hay Group's UK managing director, Lesley Wilkin. |
| "Simply put, a diverse leadership team is a more effective leadership team." | "Simply put, a diverse leadership team is a more effective leadership team." |
| One area that Lord Davies did not specifically address was the need for more flexibility regarding part-time roles. | |
| "If you want to affect real change, and fast, then businesses should advertise more top-level roles with the possibility of them being worked part-time," said Karen Mattison, co-founder of recruitment firm Women Like Us. | |
| "That's the real hammer with which we'll crack this glass ceiling." | |
| 'Comply or explain' | 'Comply or explain' |
| Lord Davies called on companies to adopt a "comply or explain" approach, which would encourage companies to publish their own targets, and comply with them or explain to shareholders why they have not done so. | Lord Davies called on companies to adopt a "comply or explain" approach, which would encourage companies to publish their own targets, and comply with them or explain to shareholders why they have not done so. |
| Currently a total of 113 women hold 135 FTSE 100 directorships - just over one per firm. | Currently a total of 113 women hold 135 FTSE 100 directorships - just over one per firm. |
| The most recent report from the Cranfield School of Management on female representation in the boardroom found that in 2009 women made up only 12.2% of directors of the FTSE 100 companies. | The most recent report from the Cranfield School of Management on female representation in the boardroom found that in 2009 women made up only 12.2% of directors of the FTSE 100 companies. |
| FTSE 250 companies have an even lower proportion of female directors at 7.3%, and nearly half of them do not have any women in the boardroom. | FTSE 250 companies have an even lower proportion of female directors at 7.3%, and nearly half of them do not have any women in the boardroom. |