Half of women on boards like quotas but male colleagues say no: report
Survey finds out that 49% of female directors have supported quotas to promote board diversity, compared to 9% of male directors
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New York: Half of women sitting on corporate boards of directors around the world support quota systems to fix stubborn gender imbalances in the boardroom, but less than 10% of their male colleagues agree, said a study released this week.
Female directors are also more likely than men to approve of term limits and mandatory retirement ages to change corporate board membership, said the survey by researchers from the Harvard Business School and the WomenCorporateDirectors (WCD) Foundation.
Asked how they arrived in their board appointments, 39% of women said their gender was a significant factor.
Just 1% of men said the same, said the survey released on Wednesday.
Men and women were divided as well on the reasons that female board membership remains low, said the survey, which culled responses from more than 4,000 male and female directors from 60 nations.
Male directors, particularly older men, say there is a “lack of qualified female candidates,” it said.
But female directors say diversity is not a board priority and traditional networks tend to be male-dominated, it said.
“It’s often hard to see an informal ‘network’ if you are in the middle of it, but you can see it very clearly when you’re on the outside,” WCD chairwoman Susan Stautberg said in a statement.
Forty-nine percent of female directors supported quotas to promote board diversity, compared to 9% of male directors.
Women younger than 55 were more likely than older women to support such quotas, the survey said.
Women hold one in eight corporate board seats worldwide, according to research by the global consulting firm Deloitte, which analyzed board membership in 49 nations.
Board quotas have been set up in several European nations, and a European Commission proposal seeks to make 40% of corporate boards female in the next four years.
Among women, more than 40% favour government regulations that require boards to disclose the steps they are taking to promote diversity, while just 14% of male directors agree, the research by Harvard and WCD found. Reuters