Increasing Female Participation at Board Level
For industry, government, academia, and corporates, the ability to access a qualified talent pool of women for participation at a senior executive and board level (including committees, panels, advisory, and governance boards) is critical in today’s economic, social and governance context.
Supporting female business owners and entrepreneurs to engage and/or appoint women to their boards as advisors or mentors is a key factor in driving sustainable and inclusive economic growth. A portfolio-style career is attractive to many professional women as it enables them to engage at a very senior level with organisations in a board or advisory capacity via flexible arrangements that support other personal and professional commitments.
GROWING NEED FOR DIVERSITY ON ADVISORY BOARDS
In our latest State of the Market Report, our research found a distinct shift in how professionals are seeking to engage at a board level with an increasing move away from traditional governance board and director roles into advisory boards. Globally the number of advisory boards grew by more than 52% since 2019, yet women make up 30% of qualified advisory board professionals. In the role of advisory board Chair, women represent 27% of professional Chairs.
Advisory boards value diversity of thought and can only be truly represented by people from diverse backgrounds, including gender. Corporatised advisory boards are the highest growing leadership evolution in the market today. Harnessing this development, and bringing more women into modern leadership roles, will enhance the impact of greater diversity on strategic decision-making.
The Advancing Women on Boards Initiative effectively addresses this increasing requirement for greater female participation at both the executive leadership level and at the boardroom table.
