Financial Skills Partnership says we need women at all levels, not just at the very top
The latest Cranfield Reportpublished today reported that the number of women on the top boards of FTSE 100 companies in the UK has risen from 12.5% last March to a 15.6%, from the 190 appointments made in the FTSE 100 boards, 47 out new appointments were women.
The report, authored by Professor Susan Vinnicombeand Dr Ruth Sealy of the Cranfield School of Management, will give a sixth-monthly update on how UK companies are performing against the targets set by Lord Davies in his review and recommendations last February. He recommended that the proportion of women on FTSE 100 companies top boards be increased to a minimum of 25% by 2015.
Liz Field, CEO of the Financial Skills Partnership comments: While the increase in top board membership is clearly welcome, we believe that a lot more work could be done to help adjust the gender balance throughout company hierarchies, in particular at the level immediately below the one currently reported on.
Recent research indicates that female participation at this level isactually declining rather than rising, a trend that needs to reversed if we are to ensure a continuous pipeline of female talent. Companies would do well to follow in the footsteps of the most progressive amongst them which – besides introducing better diversity monitoring and tailored development and mentoring programmes for women – are also trying to tackle the most deep-seated causes such as unconscious bias.
The Financial Skills Partnership
- FSP and the Financial Skills Partnership is the new name for the Financial Services Skills Council.
- It is the skills champion for finance, accountancy and financial services organisations to provide employer leadership to address skills needs within our sector and galvanise employer ambition and investment in skills.
- Their new name better describes the organisations partnership working approach with stakeholders and employers and is fundamental to their culture.
- The Financial Skills Partnership (FSP) is a strategic, impartial, employer-led organisation which aims to support employers in developing and retaining a skilled workforce in finance, accountancy and financial services across the nations and regions of the UK. It acts as a link between industry, government and education. It is also a UK-wide sector skills council, licensed by the Government to articulate the employers voice on skills and develop innovative skills solutions.
- The FSP covers the whole of the finance function including accountancy and finance, banking and building societies (wholesale and retail), financial planning, insurance, wealth, investment management and pensions.
- All of these sectors have Sector Panels and there are also 3 nations panels. The purpose of these is to provide strategic direction regarding the future demand for skills and prioritising for the sector or nation.
- The FSP’s flagship product Directions is an online careers guide, with additional consultancy services aimed at informing people of the range of career options within the sector and helping employers attract diverse talent at all levels. For more details visit: www.directions.org.uk/careers/.