Numbers of women at management and senior management levels in the FTSE 350 is 20% below that of 2002.
This is according to research from PricewaterhouseCoopers LLP, which shows that there is a year-on-year reduction in pay at almost all management and executive director levels in FTSE 100 and FTSE 250, and a resulting widening of the gap in some areas between male and female pay over a six year period, after sustained progress over the past few years towards closing the gap.
Sarah Churchman, head of diversity and inclusion at PricewaterhouseCoopers, said: “This is a business issue, not a women’s issue. Research shows that companies with the highest proportion of women in senior teams significantly outperformed those with the lowest. The Women and Work commission has also highlighted that the UK could gain £23 billion or 2% of GDP by better harnessing women’s skills.
“Female management and senior management appointments in the FTSE 350 are the incubators for future global business female leaders. The continuing leaking pipeline of FTSE 350 future female leaders is costing the British economy dear in terms of knowledge, skills and their resulting economic contribution in the UK and internationally.”
In a warning to employers, Churchman added that losing a senior manager can cost up to three times the annual salary and benefit packages.
See also: The great gender debate
