Holding firms accountable for diversity will get women on boards

Much of the debate following the welcome launch of Lord Davies’ report Women on Boards has focused on whether quotas are required to force companies to make the changes necessary to increase the diversity of their boards. I think we are much more likely to be successful if, rather than being forced to change their ways by quotas, companies recognise the business benefits of taking action themselves. The business-led initiative The 30 Per Cent Club – made up of firms that aspire to 30 per cent female leadership – demonstrates that there are a number of FTSE-100 chairmen who already understand the value of diversity on boards and want to encourage other chairmen to take action in this area. This feels likes the right place to start. Of course, it would be naïve to believe that this kind of initiative alone will be enough – we can all see how slow progress in this area has been. Lord Davies’ recommendation that businesses should disclose the number of women on boards, alongside his suggested aspirational targets, is therefore important. It will mean that women themselves will be able to see which companies are serious about this issue and may influence where talented women decide they want to work.