Even though women now comprise more of the workforce than men, corporations’ boards of directors are still primarily male. This gender divide leads to differing viewpoints on some of the biggest issues facing boards today, according to research conducted by Heidrick & Struggles, WomenCorporateDirectors, and the Harvard Business School.
Women are more likely than men to feel increased boardroom diversity (65% vs. 35%). New regulations regarding executive compensation (45% vs. 22%), and enhanced risk management systems (40% vs. 1%) will help restore the public’s trust in the business world.
Women value their service as a board director more than men. Women are twice as likely as men to say the reason they serve on boards is “for the prestige conferred by sitting on this particular board” (31% vs. 18%). Eight in 10 women (81%) say “serving on this board has enhanced my professional reputation,” compared to 68% of men. It also takes longer for women to achieve these seats (2.4 years vs. 1.4 years).
Both women and men agree that boards are not highly effective in succession planning processes (59%, 61%) or performance assessment processes (71%, 81%). [Workforce/Employment]
Sources: Heidrick & Struggles, Bonnie Gwin, Managing Partner, Willis Tower, 233 S. Wacker Dr., #4200, Chicago, IL 60606; 312-496-1200; www.heidrick.com.
WomenCorporateDirectors, Susan Stautberg, Co-Founder, 17 E. 89th St., 7D, New York
, NY 10128; 212-987-6070; sstautberg@womencorporatedirectors.com; www.womencorporatedirectors.com.
© Copyright 2011, EPM Communications, Inc. May not be reproduced without written consent of publisher.