Women today hold 18% of senior management positions in FP500 companies. But in two yeas this proportion has not changed, if we are to believe the study conducted by Catalyst.
The biennial Catalyst survey, which measures progress achieved by women in obtaining top management positions within Financial Post 500 companies concludes that there has been no significant change in the subject since 2010. With a representation of 18.1% in responsible positions, the increase is only 0.4% over the results obtained two years ago. Progress is therefore minimal in terms of representativeness. The survey reveals that more than one third (35.9%) of FP500 companies have no women among their top management while less than one quarter (21.7%) of them have 25% or more of these responsible positions filled by women. On the other hand, the highest representations of women top executives are found in finance and insurance, retail trade and public services.
Better financial results
However, a greater proportion of women in company management would have many advantages, according to Catalyst. This would allow better financial results to be obtained and promote the innovation inherent in gender diversity. So, companies ranked in the FP500 that have the largest number of women among their executives show greater financial success on average than companies with fewer women. Similarly, companies with a higher representation of women would be more oriented to philanthropy, with significantly higher social commitment.
Passing through key positions
Catalyst recommends several tips to facilitate women’s accession to top executive positions. This can include an active sponsorship by influential leaders or by gaining access to key positions that will eventually pave the way to higher positions.