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Gender Diverse Boards Champion Company Culture

New UK-focused research published by 30% Club, a global campaign of chairs and CEOs pushing for gender diversity on boards and executive committees, has found that female board and executive committee members are more likely to focus on company culture and employee development. Female directors more often identify the need for further board diversity across age, culture and social background, said the report, co-produced by and board advisory specialists Lintstock. “The findings further confirm that a more gender diverse group of board members will consider a greater variety of issues and ask a wider range of questions,” said Hanneke Smits, Global Chair of the 30% Club and CEO of BNY Mellon Investment Management. Separate research by data provider Clarity AI noted that organisations with greater than 40% female board representation tend to have a higher share of women employees, but have not shrunk the gender pay gap. The UK’s financial services sector is behind the curve, according to a study by employment and partnership law firm Fox and Partners. Just 9% of 9,278 CEO and Chairperson positions across the UK’s financial services sector are held by women, the study said, noting that 96.4% of COO positions, 91.3% of CEO and 91.3% of Chairperson positions are held by men. Caroline Field, Partner at Fox and Partners, said: “It has long been recognised that a ‘boys club’ atmosphere within the firms is a deterrent to women. That is gradually being fixed, but if more women are to ascend to the highest ranks, workplaces will need to be more inclusive.”  

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