Following the celebrations of International Women’s Day and the ensuing media coverage on prime time television it is interesting to reflect on how far women have progressed at senior level in the business world.
With the increasing talk of quotas and the mixed opinions toward them there is a general sense of support for achieving equality and balance of gender at board level. Superficially it seems we are heading in the right direction however if we are to see more women in top executive positions it might mean the introduction of the quota system. Statistics detailing the percentage of women holding senior officer roles show an increase of less than one percentage point from 2008 to 2010; 16.9 per cent in 2008 against 17.7 per cent in 2010. In addition women only make up 12% of directors at Europe's largest firms a clear indication that change definitely needs to happen. The need for quotas and the debate surrounding them highlights the distance to go before adequate female representation is achieved.
However the pros and cons of quotas have caused significant debate particularly the discriminatory aspect of quotas and the belief that women will be depreciated and be awarded roles not because they are qualified to hold them but to meet the quotas set for the company. Studies have suggested that companies with women among their directors are more successful than those whose boardrooms are men only.
The lack of progress in the last decade raises some questions as to why the gender gap hasn’t been closed. Could it be that women simply don’t want to take these high powered, time consuming executive roles? Is the pressure to choose between a family or career or the stress of juggling both too much of a sacrifice?
If this is the correct conclusion then quotas will not be met; the 40% increase of women at director level across Europe will not be achieved and quotas are therefore redundant and self defeating. Women should be hired on their own merit and achieve positions of power through their own capability and ambition and not to meet a statistical target or to realise a political statement.
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