More women on shortlists is great, now let’s look at the talent pipeline

Jo Faragher

When Lord Davies of Abersoch published his report on women in senior positions more than three years ago, he set out bold targets for getting 25% of FTSE roles occupied by females by 2015. At the time, most industry watchers were cynical about this and thought it would never happen.

The progress employers and recruiters have made in promoting more senior women must be applauded. In his annual review of progress back in March, Davies reported that women now account for 20.7% of board positions in the FTSE100, up from just 12.5% in 2011. 

News from mining group Glencore that it has appointed a female director to its board now also means that it is no longer the last company on the FTSE100 to have an all-male board.

And now that business secretary Vince Cable has approved a new code of conduct for search firms in appointing board level positions, this progress can only continue.

The executive search industry helped to draw up the guidelines, which involve stringent reporting to the Davies Steering Group and an obligation for headhunters to publish details of their track record. 

This shows their commitment to pushing diversity by working with clients right from drawing up long-lists to appointing a successful candidate.

What is now also needed, however, is a drive by employers to push women through their talent pipelines. Recruitment is only part of the story.

Companies such as Lloyds have dedicated mentoring schemes and executive coaching for star female talent. They have also identified that women may need more support with flexible working and returning from maternity leave if they are not to drop off the career ladder.

It’s not just a ‘fluffy’ corporate social responsibility issue either. A survey by Alexander Mann Solutions found that the UK economy could benefit by as much as £5bn if companies unblocked the talent pipeline for female middle managers.

So progress is good, but it needs to be universal, not just at executive recruitment level. This week’s news suggests we’re at least going in the right direction.