TRACY BLACK
This is a crucial year for women in the workplace. While there has been progress, what took place at the Presidents’ Club shows just how far there is to go.
Company practices need to be more inclusive, sexual harassment needs to stop, and slow progress on career progression for women must be addressed. Better support for mums returning to work and more help with increasingly expensive childcare costs will help firms to attract and retain top talent.
Companies with diverse boards perform better - but business remains far too male. Only 4% of FTSE 350 CEOs are women. And at the level below chief executive, two in 10 leaders are women. Clearly, business needs to pick up the pace.
While women are now joining boards in greater numbers, it’s often as non-executive directors, not day-to-day leaders. To change this, all-male shortlists should always be challenged, interview panels should be mixed and people promoted on ability, not just experience.
Encouragingly, firms are thinking harder about improving gender diversity. As the deadline nears for larger employers to reveal their gender pay gap, more are looking to make their workplaces inclusive. Reporting can help companies identify reasons why women are being paid less on average than men. What firms can measure, they can change.
We also need to inspire the next generation. At CBI Scotland, more of our members are visiting schools, inspiring women to pursue STEM subjects and apprenticeships. Mentoring is important too, helping aspiring young women learn leadership skills from the best in business. As an example, the First Minister’s First Mentor initiative is something all leaders should get behind.
All this matters. It’s not just the right thing to do, greater diversity will lead to better decision-making and more productive workplaces. Now it’s time for action, not more warm words.
Tracy Black is CBI Scotland director.
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