Today’s news review looks at plans to ensure talented women at the top of business are recognised, promoted and rewarded.
On Tuesday, 8 November, it was announced that the Hampton-Alexander Review, an independent review backed by government, had recommended that FTSE 100 companies should have at least 33 per cent of their executive pipeline positions filled by women by 2020.
Statistics show that 25% of those currently sitting on FTSE 100 executive committees and their direct reports are women, and the new voluntary target aims to help more women get into the top jobs. It builds on the existing 33% target for women on boards of FTSE 350 companies by 2020.
The Hampton-Alexander Review is headed up by Sir Philip Hampton, Chair of GlaxoSmithKline, and Dame Helen Alexander, Chair of UBM.
Justine Greening, Minister for Women and Equalities, said:
No woman should be held back just because of her gender. It’s vital we help more women get into the top jobs at our biggest companies, not only because it inspires the next generation but because financially business can’t afford to ignore this issue – bridging the UK gender gap in work could add £150 billion to our annual GDP in 2025.
We’ve achieved amazing things – we now have a woman on every board in the FTSE 100 and we have the lowest gender pay gap on record. But we have to push further and focus on the executive pipeline. I am sure that the ambitions set out by Sir Philip and Dame Helen will help us get more women into those top jobs.