Genesis comments on lack of women on FTSE boards

Britain’s biggest companies will not be able to achieve 25% female board representation until 2017 according to research from market researchers Norman Broadbent. This misses the date set by Lord Davies, who recommended that Britain’s top 100 companies should look to achieve that figure by 2015.

In the last year, FTSE 100 companies saw a 16% rise in the number of women on boards, however several of the boards were found to still have no female members.

The research found that retail, technology, media and health were the best performing sectors with the industrial sector still favouring all male board.

Kulbir Shergill, Deputy Director for Diversity and Inclusiveness at Genesis Housing Association, has led Genesis’ diversity work which has resulted in the social landlord becoming the first housing association in the country to be chosen in the top 50 employers for women by The Times.

Kulbir commented on the findings: “Lord Davies was right to set targets, if we don't have a challenge and an objective we won't make the commitment and drive forward change. The housing sector has suffered from a lack of boardroom gender diversity as much as the private sector even though it has a majority female workforce.  

“Workplace culture is still frightened of appointing women who may have family responsibilities to top jobs. However we have more and more role models who show us that it can be done. I must say that I was most impressed by Ruby McGregor Smith, who not only is the Chief Executive of a FTSE 250 company and mother but is also brave enough to speak out on the importance of diversity in the workplace with real action behind her commitment. In the housing sector we see some movement in the number of women Chief Executives but we still have a long way to go.”

Turning to the work being done at Genesis, Kulbir said: “We have started on our journey in developing our senior women talent pool, but if we don't have targets it will soon slip off the agenda. This kind of target is probably new to the FTSE 100 and what's important is not that it hasn't been reached but what are the mechanisms in place to help bring down the cultural barriers that women still face in 2012.”

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For more information and images contact Ben Ashmore, 0207 563 0298 or ben.ashmore@GenesisHA.org.uk

Genesis owns or manages homes across London and the south east for thousands of people. As one of the most diverse housing groups in the UK, Genesis’ main aim is to provide great services, great homes, great places and great opportunities for its customers.