On the same day that model and wife of the former French President, Carla Bruni Sarkozy, declares that her generation “doesn’t need to be feminist” (she’s 45), the Equal Opportunity for Women Agency (EOWA) in Australia releases a report that begs to differ.
For those old enough to remember, it’s been almost a lifetime battle. It’s 42 years since Germaine Greer’s seminal The Female Eunuch and 41 years since Helen Reddy’s anthem I am Woman, but in 2012 women in the upper levels of corporate Australia are still relatively rare.
The 2012 Australian Census of Women in Leadership published by EOWA shows that only 9% of executive positions in the top 500 private sector companies are held by women. Only 12 of those top 500 companies have women CEOs, and two thirds of the companies have no female executives at all. Australia has the lowest proportion of female executive personnel compared with similar countries such as New Zealand, the UK, USA, Canada and South Africa.
The Director of EOWA, Helen Conway, admitted that after ten years of conducting the Census, more progress could be expected.
“Companies have failed to develop and maintain a strong pipeline of female talent, and you can see this in the negligible growth in female executive management.”
The only functional area where there are more female executives than male is in human resources, followed by business operations and legal unit.
On the plus side, the Census also shows an increase in the number of women on boards with almost 62% of the top 200 companies and 44% of the top 500 having at least one female director.
Ms Conway said it was good to see women making their way on to boards. Even so, “... when it comes to boards, the number of women is still very small. Less than one in 10 directorships across the top 500 companies is held by women.”
The Census also shows that women are more likely to have multiple directorships than men suggesting that companies are not searching for new female talent. In the top 500 companies, 23% of women directors, but only 14% of men, hold more than one directorship.
EOWA research shows that three or more women on a board constitute a “critical mass” that can drive significant change and improve corporate governance.
The industry leader for female executives is the pharmaceutical, life sciences and biotech sector at 27%. The worst are the automobile and consumer durables sectors with no female executives.
CEO of the ANZ Bank, Mike Smith said that it’s about time people stopped talking about the issue and did something about it.
“The progression of women into senior leadership positions has stalled and more radical approaches are now required.
“The biggest gains will occur when more businesses not only set and report on targets but also take the time to understand what is needed and take direct action to ensure more women thrive and advance in our workplaces,” he said.
“This is not just about addressing equality. It actually makes good business sense and those organisations that take action will reap the economic benefits of a more productive workforce.
Both Ms Conway and Mr Smith urged employers to adopt the ASX Corporate Governance Council’s recommendations to set meaningful objectives for achieving gender diversity by setting targets for women at leadership and management levels.
“Managers should be held to account – and remunerated – for delivering results against these targets and ensure that women aren’t left on the sidelines,” Ms Conway said.
Let's see.
Post Script:I am Woman became the official anthem of the United Nations International Year of the Woman in 1975. Here it is in case you’re too young to have heard about it - or just want to be reminded.
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