NZX Diversity Figures Show Progress Is Too Slow

NZX Diversity Figures Show Progress Is Too Slow

The latest NZX quarterly statistics confirming that only 11% of listed directors are female don’t inspire me that we are making inroads into female representation at Board level said Dr Jackie Blue Equal Employment Opportunities Commissioner.

Last year our Census of Women’s Participation found that just 14.75% of directors were women in the top 100 listed companies. We estimated that at our current progress it would take 35 years to achieve 50%. That’s outrageously slow.

We would like to see the state sector boards take leadership in this area. The target was 50% of women on boards but now that has gone backwards to 45%.

We would also like to see the gender disclosure toughened up to include ethnicity and disability stats throughout the whole company so we have a better picture of diversity in our workplaces.

We are seeing some promising signs in many big businesses like banks and insurance companies. They understand that greater representation of women at senior levels gives them the competitive edge.

The evidence shows that more women at board and senior management level is good for business. It’s good for the bottom line and for staff retention.

While the NZX rule requiring listed companies to disclose the gender make up of their boards has only been since December 2012, the figures show we need to do better.

ENDS

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