I was unable to attend the summer party celebration of the 30% Club this week.  Apart from feeling uncharacteristically grumpy that I couldn’t physically manage it, I was also very disappointed. The 30% Club was set up by the extraordinary Helena Morrissey, Head of Newton Asset Management in order to encourage FTSE 100 Chairmen to commit to establishing a Board that is at least 30% women.

I do not know Helena well but I think she has taken a very smart route to bringing the cultural change we desperately need at the top of many organisations and particularly in the commercial sector. By charming Chairmen into action and celebrating successes, I am sure she has got further than berating them for the lack of progress.  I think that 50 chairmen are now signed up and so change is happening. 
I would like to have been there to show support but I would also have liked to have been there to throw my slightly different perspective into the debate. I think we need a massive shock to the system so I am 100% in favour of quotas for the FTSE 100 companies. I know this is deeply unpopular with many, but I think it is the only way to create scale change fast. I reject the assumption that with quotas comes sub standard women – that is patronising and sexist.  

There are hundreds of great women out there – Headhunters and Chairs just need to work harder to find them. We need to look in the charitable sector, in start-ups and in big public sector organisations – crucially in the UK but also internationally. FTSE 100 companies would be transformed with the addition of 200 new women as Executive or Non- Executive Directors. It’s a small number – we are not looking for 2000 or 20000. I am convinced there are the women out there but we must root them out and break up the old networks that currently find them. 

As I suggested, if every woman at the 30% club event brought another woman to the event that had potential to become a Director then you have already created a powerful funnel of talent. I am lucky to be on the Board of M&S with a great Chairman and good gender balance. I am also lucky to Chair Go On UK, the charity established to build the UK’s digital capability and I am delighted that 5 of the 11 board members are women. You can read about it here .

Now, surely, as public confidence in the established institutions is being blown apart, it is essential we deliver better equality at the top.

3 thoughts on “Women, Boards, Distruption…

  1. we have had quotas for years
    the requirments to meet the quota were
    1. that you had a penis (or at least seemed to)
    2. preferably educated at Oxbridge
    3. looked like me – white*. middle class, not disabled etc
    (their is strong psychology evidence that people prefer to employ people like themselves hence the ageism in tech companies) (i was looking at the people at makielab and noticing that they were all of similar age)

    *there has of course been some movement being white is less of a requirement

    so quotas for women seem perfectly reasonable and in 30 years time you might get
    1. preferably educated at Oxbridge
    2. Looks like me – middle class, not disabled etc

    Ok I’m being cynical and its an important step but when quotas for women work then they should in time be replaced with quotas for other disadvantaged/disempowered groups in turn

    personally when I get well and manage to get a business going I will actively seek to employ people from groups that are excluded because I will get the cream of the crop that is being ignored right now because of their history

    too me it seems obvious but…

  2. Pingback: Martha Lane Fox | ionthecity

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s