Despite the efforts of governments and organizations, men still dominate boardrooms around the world. AI could be part of the solution – helping organizations to level the playing field and drive culture change.
“It’s well documented that organizations with diverse workforces are more successful,” says Sharon Sutherland, Director of the EY Global Center for Board Matters. “As a result, organizations have moved beyond the ‘why’ – the economic imperative – to the ‘how’.”
Unfortunately, the ‘how’ is where organizations are getting stuck. On the one hand, government quotas have brought results: all French, Italian and Norwegian companies had at least three women directors on their boards at the end of 2017. In 2018, the top 100 listed companies in Australia even managed to hit 30% without a quota.
On the other hand, only one in four board members in Fortune 100 companies were women in 2018. And FTSE 350 boards will need to appoint women to nearly half of all new available appointments if they’re to achieve the UK government’s target of one-third women by 2020.
More worryingly still, European quotas don’t seem to have increased the number of women in the pipeline: in Germany, France and the Netherlands, women hold just 10-20% of senior management jobs. This suggests that even where the numbers have changed for the better, behaviors and cultures haven’t.