Following an announcement by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA), gender quotas will be introduced in companies throughout the UK, affecting over 2,400 financial services firms. The new proposal means that – from January 2014 – these organisations will have to outline the number of men and women they’re going to appoint to boardroom positions and meet targets set out in line with EU rules. We’ve seen much in the headlines over the past few months on the importance of women on boards. However, my worry is that these quotas aren’t addressing the problem.
Yes, it’s positive that the value of women in leadership positions is being recognised, but the underlying issues also need to be looked at. We need to ask ourselves this question: why is it that females aren’t putting themselves forward for more senior roles?
A recent survey of 2,000 British women – carried out by Head & Shoulders – suggests that nearly half of respondents said they would have been more successful in their career if they had had more self-belief. And at a&dc, we have also identified this to be a key barrier and have found that, if women have greater confidence in their own abilities, they’re more likely to put themselves forward for top roles.
So what can be done? I’d argue that, instead of striving to meet gender targets, employers and HR professionals should be encouraging their female staff to enhance their resilience. We recognise that self-belief is a key characteristic of resilience. And if greater efforts are made to develop this trait – for instance through workshops, mentoring programmes, and one-to-one coaching – it will make a big difference to the number of women in leadership.
Diversity in the workplace is hugely beneficial to any company at all levels of the business. And, while gender is only one part of this, finding ways to encourage more women into senior positions will help to redress an imbalance prevalent in many companies throughout the UK.
If you’re interested in finding out more about resilience, we’re hosting a resilience training day next month. Find out more here.
