U.K. P.M. Says Not Promoting Women Hurts Economy
At a meeting of the Northern Future Forum in Stockholm, United Kingdom Prime Minister David Cameron spoke about the need for more female executives and entrepreneurs to boost the U.K.‘s economy.
“The case is overwhelming that companies are run better if we have men and women alongside each other.” — U.K. Prime Minister David Cameron
Following the recommendations of the Mervyn Davies report on increasing the number of women on boards, released in early 2011, the U.K. has worked to improve the situation.
- 15% of company directors in the FTSE 100 are women (up from last year’s 12.5%)
- Now there are only 10 completely male boards in the FTSE (down from last year’s 21)
- As of this coming October, companies must report on their policies and progress in boardroom diversity
However, even with these improvements, the executive level of most U.K. companies are far from being gender balanced. Before the meeting, Cameron issued a statement emphasizing that women make up almost half of Europe’s workforce and hold the majority of university degrees, yet this fact is not reflected in senior boardrooms.
“The evidence is that there is a positive link between women in leadership and business performance, so if we fail to unlock the potential of women in the labor market, we’re not only failing those individuals, we’re failing our whole economy.” – David Cameron
Cameron has previously threatened that quotas may be necessary if the companies can’t solve the problem themselves, but he later stated that the best course would be to take positive measures that stop short of resorting to quotas.
Read the full report from Business Week here
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- Not Wanted on the Voyage
- In Germany, No Room for Women at the Top
- German Boards Appointing Women in a Race Against Quotas
- Governments Consider Overcoming Gender Imbalances With Quotas
- France Supports Working Mothers
- Association of British Insurers To Set New Guidelines for Boardroom Diversity
- Europe Bringing Women Into the Boardroom
- Parents Turning Down Jobs Because of High Childcare Costs
- Denmark Elects First Female PM
- WIN Conference - Interview with La Stampa