diversity

Gender parity will not be attained this century says WEF

13 January, 2020 By WiC

None of us will see gender parity in our lifetimes, and nor likely will many of our children. That’s the sobering finding of the Global Gender Gap Report 2020, which reveals that gender parity will not be attained for 99.5 years.

Why gender parity matters

Gender parity has a fundamental bearing on whether or not economies and societies thrive. Developing and deploying one-half of the world’s available talent has a huge bearing on the growth, competitiveness and future-readiness of economies and businesses worldwide.

The index’s rankings offer an effective means to benchmark progress. They are designed to create global awareness of the challenges that gender gaps pose, as well as the opportunities that emerge when action is taken to reduce them.

Political representation on the rise, but is it enough?

Now in its 14th year, the Global Gender Gap Report 2020 benchmarks 153 countries on their progress towards gender parity in four dimensions: Economic Participation and Opportunity, Educational Attainment, Health and Survival and Political Empowerment. In addition, this year’s report examines gender gap prospects in the professions of the future.

The report presents a decidedly mixed picture. Overall, the quest towards gender parity has improved, ducking back under a century and registering a marked improvement on the 108 years in the 2018 index. Greater political representation for women has contributed to this, but overall the political arena remains the worst-performing dimension.

At the other end of the scale, it is forecast to take just 12 years to attain gender parity in education, and in fact, overall, gender parity has been fully achieved in 40 of the 153 countries ranked.

The “role model effect” reaps dividends at the top …

Drilling down into the facts and figures, it will take 95 years to close the gender gap in political representation, with women in 2019 holding 25.2% of parliamentary (lower-house) seats and 21.2% of ministerial positions.

Positively, the so-called “role model effect” may be reaping dividends in terms of leadership and wages. Improving political empowerment for women has, as a general rule, corresponded with increased numbers of women in senior roles in the labour market.

… but not lower down

In contrast to this positive progress in the lofty world of leadership, women’s participation in the wider labour market has stalled and financial disparities are increasing. Globally, the trend is towards a deteriorating picture in emerging and developing economies, which is offsetting the gains made in OECD countries.
Although education attainment as well as health and survival enjoy much closer to parity (96.1% and 95.7% respectively), one important area of concern is that of economic participation and opportunity. This is the only dimension where progress has regressed. Here, the figures are sobering, with a deteriorating situation forcing gender parity to a lowly 57.8%, which in time represents a massive 257 years before gender parity can be achieved.

The report highlights three primary reasons for this: women have greater representation in roles that are being automated; not enough women are entering professions where wage growth is the most pronounced (most obviously, but not exclusively, technology), and women face the perennial problem of insufficient care infrastructure and access to capital.

Working towards a better outlook for future jobs

Looking to the future, the report reveals that the greatest challenge preventing the economic gender gap from closing is women’s under-representation in emerging roles. In cloud computing, just 12% of professionals are women. Similarly, in engineering and Data and AI, the numbers are 15% and 26% respectively.

Gender Parity in Professions

To address these deficiencies, workforce strategies must ensure that women are better equipped (in terms of improved skills or reskilling) to deal with the challenges and take advantage of the opportunities of the Fourth Industrial Revolution. Diverse hiring is another area for improvement (reflecting the current situation that sees gender parity in an in-demand skillset but not equal representation), along with creating inclusive work cultures.

Best in class

The top country for gender parity remained Iceland (for the 11th year running).

The most-improved countries were Albania, Ethiopia, Mali, Mexico and Spain.

Of the 149 countries ranked, 101 improved their scores on the 2019 index (this excludes the five new countries that have joined the ranking this year).

A further 48 saw their performance unchanged, while the top 10th percentile saw their scores improve more than 3.3% year-on-year.

A total of 35 countries have achieved gender parity in education.

In healthcare, 48 countries have achieved near-parity and 71 have closed at least 97% of the gap.

Could do better

Globally, gender parity stands at 68.6% and the bottom 10 countries have closed just 40% of the gender gap.

Political empowerment scores are poor. In terms of parliamentary representation, globally women have secured just 25% of available positions, a figure that slips to 21% at a ministerial level. At this level, there are nine where they have no representation.

In the past 50 years, 85 states have had no female head of state.

In terms of economic participation, the gender gap will take 257 years to close (compared to 202 years in the 2019 report).

Globally, only 55% of women (aged 15-64) are engaged in the labour market as opposed to 78% of men.

There are 72 countries where women are barred from opening bank accounts or obtaining credit.

There is no country where men spend the same amount of time on unpaid work as women. In countries where the ratio is lowest, it is still 2:1.

Trends

By region, Western Europe has made the most progress on gender parity (standing at 76.7%), followed by North America (72.9%), Latin America and the Caribbean (72.2%), Eastern Europe and Central Asia (71.3%), Sub-Saharan Africa (68.2%), South Asia (66.1%) and the Middle East and North Africa (60.5%).

These figures, however, mask several key trends, which have a significant impact on the time to gender parity. In North America progress stalled during 2019, while further south in Latin America and the Caribbean, several countries performed strongly over the course of the year.

How to get ahead

This year’s index highlights areas where policy-makers need to focus greater attention. At the federal level, greater political representation – and in some nations, any representation at all – for women is a pressing need.

Looking ahead, policy-makers need to take action to better equip younger generations – particularly in developing nations – with the skills to succeed in the world of future jobs. Increasing formal education attainment is necessary – and the strong gender parity in this area to be applauded – but it is insufficient to provide young men and women graduating from every level of education with the types of skills needed for the Fourth Industrial Revolution’s job market. In this respect, gender gaps remain and are likely to become exacerbated unless addressed now.

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Step-change needed for women in senior leadership roles

13 November, 2019 By WiC

This year’s Hampton Alexander Review, published today shows the strongest year of progress since targets were first set in 2011:

FTSE 100 on track to reach the 33% target for women on boards ahead of the 2020 deadline o FTSE 250 made strong gains during the year and with sustained effort, will also meet the 2020 deadline
Last year’s challenge to “One & Done” boards is having an impact: there are 39 “this year, down from 74 with only 2 All-Male boards remaining

However, a step-change is needed for senior leadership roles below board level

50% of all appointments next year need to go to women, or the 2020 target will not be met.

The report shows that women now hold 32.4% of all FTSE 100 board positions, up from 30.2% last year and up from only 12.5% in 2011. The FTSE 100 is very close to meeting the 33% target for Women on Boards and will do so ahead of the 2020 deadline.

The report also shows that women hold 29.6% of all FTSE 250 board positions, up from 24.9% last year and only 7.8% in 2011. The FTSE 250 has had its strongest year yet and if the same rate of progress continues next year, the FTSE 350 will be on track to meet the 33% target by the end of 2020 deadline.

Not all companies are making the same efforts, and the gap between those working hard to improve gender balance and those doing little, is each year more obvious.

Only two All-Male Boards remain

Following successful campaigning and pressure from investors in the year, “One & Done” boards have reduced from 74 to 39 this year. This includes 11 new entrants to the index but 28 companies feature for the second year running. Only two All-Male boards remain, down from 5 this time last year and 152 in 2011.

Sir Philip Hampton, Chair of the Review said:

This is the penultimate Hampton-Alexander Report and we enter our final year with great momentum behind us, but we are still a long way from reaching the target for women in senior leadership roles below board level.

Denise Wilson, Chief Executive of the Review said:

There are over 900 women now serving on FTSE 350 boards, providing an ever-increasing pool of women with substantial board experience, yet only 25 women have been appointed into the Chair role, even fewer as women CEOs and showing little sign of change.

The very senior jobs were always going to be the hardest of challenges, however a stronger focus is now required at every stage of the appointment process to address the reasons why top jobs aren’t going to women”

Chris Cummings, Chief Executive of the Investment Association said:

Investors have been consistent in their demands for greater diversity. It’s not just a nice to have. The research is clear: firms with diverse boards and management teams make better decisions, drive innovation and outperform their less diverse peers.”

Melanie Richards, Deputy Chair at KPMG UK said:

Behind the numbers and trends are hundreds of individual stories. Women who have overcome barriers that they should not have had to overcome, with leaders and boards who have worked hard to remove those barriers for current and future generations.”

Carolyn Fairbairn, CBI director general, said:

If all male boards are to become a thing of the past, firms must not take their foot off the pedal.”

She added that firms were “making less progress on the executive pipeline”.

We are still seeing too few women in senior leadership positions, whether as chief executive or running divisions.”

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Visit our searchable Knowledge Bank for a range of reports and studies on gender diversity, leadership and related topics.

Unpaid housework of 26 hours per week equals £11k per annum

30 October, 2019 By WiC

Whilst the number of women in employment is at its highest rate since records began, research by thinkmoney has uncovered that unfortunately, all isn’t as it seems.

After analysing the working patterns of Brits, their research has revealed that women make up two-thirds of all part-time roles. With part-time roles limiting employees progression, financial independence and retirement benefits – it is clear that there’s a part-time gender bias in Britain.

Morever, according to a recent study by the Trades Union Congress (TUC), Brits are working two and a half weeks more, per year, than any other country in Europe.

While the average working week has decreased by 18 minutes over the last decade, at this rate it will take 63 years for British working patterns to match those elsewhere in Europe.

Key Findings

Women have more part-time roles than men – across all UK regions.

On average, women make up almost two-thirds (65%) of all part-time roles in the UK.
The ‘part-time gender bias’ is more prevalent in the North-East; women are responsible for almost three-quarters (71%) of all part-time roles

On the other hand, London has the least ‘part-time gender bias’. Women account for 51% of part-time roles (580k) whereas men make up a very close 49% (285k).

Revealed: Women Would Earn £11,009 From Unpaid Housework

With more women in part-time work, they naturally end up completing more work around the house – such as laundry, cleaning and for some, childcare.
However, this has led to women taking on 60% of all unpaid housework – each week women spend 26 hours on this, as opposed to men who complete 16 hours.
If women were to be paid for this housework, they would receive £11,009.

London workers put in the second least paid overtime hours in the country

London has one of the longest working weeks when adding together paid overtime and contractual hours (38.4 hours), but workers in the capital are only reported to work 176.8 hours paid overtime, along with the North East and South West. However, these figures only reflect paid overtime and it’s possible that the unreported, unpaid figures could be much higher.

Employees in South East work the lowest overtime hours

Workers in the South East put in the least paid overtime at only 166.4 hours (24 days). They work 62.4 hours less than Northern Ireland employees, or the equivalent of almost two working weeks.

The TUC estimates five million workers in the UK have put in more than £32 billion unpaid additional hours per year. So, overtime figures could be even higher than reported. Employees in Wales gave an extra £819 million of free labour in 2017.

Read about other geographical areas

Out of Hours at The Old Bailey, 23 March 2020

14 October, 2019 By WiC

It’s Criminal! Ignoring Diverse Opportunities

One of the biggest diversity challenges facing organisations today is managing a multi-generational workforce. From Boomers to GenZ, each generation has its own needs, preferences and development opportunities.

Whether that’s taking into account the growing proportion of the workforce aged 50+ and their need to be working for longer, accommodating those with disabilities or integrating those from wide ranging social and cultural backgrounds.

In the “war for talent” it’s inevitable that there’ll be tension between those with experience who are “hanging on” and those with ambition who are “muscling in”.

We’ll explore how employers and employees can make the most of the diverse opportunities that will occur as we move towards the second quarter of the 21st century and become increasingly influenced by and dependent on technology at both an organisational and personal level.

Outline Programme

Date	Monday 23 March 2020
Venue	The Old Bailey, London EC4M 7EH
Time	Doors open 6pm and close at 9pm
	Drinks Reception Keynote Address – Camilla Cavendish, author of Extra Time: Ten Lessons for an Ageing World Panel and Audience Discussion facilitated by Debby Ounsted CBE Mix and Mingle Networking with Canapés and Drinks
Ticket Price	£65+vat

BOOK YOUR PLACE NOW

We have a limited number of Sponsorship Opportunities for this high-profile Seminar. Please view our Sponsorship Document or call Gwen Rhys on 07860 845037 to discuss

We’re delighted that Women in the City has been offered the use of The Old Bailey to host an evening seminar as the guests of Alderman & Sheriff Professor Michael Mainelli and Sheriff Chris Hayward, both of whom will attend It’s Criminal! Ignorging Diverse Opportunities.

Sheriff Mainelli (left) said:

“I am delighted to support Women in the City’s evening seminar “Ignoring Diverse Opportunities” as part of the “It’s Criminal! Out of Hours at The Old Bailey” series of events taking place during my Shrieval year. This seminar will address a topic that is key to the future success of the City.”

Lack of confidence affects men as well as women

10 October, 2019 By WiC

A global survey of 250 employees by professional training company Roar Training has revealed that 71% of employees have turned down opportunities due to lack of confidence.

What’s more the research found that 51% of employees have turned down public speaking opportunities because they were worried about their performance and 16% of have even said no to a promotion because they didn’t feel they were ready.

In business we are repeatedly required to do things which require a certain amount of self belief. Standing on a stage in front of crowds, confidently selling services to strangers and sharing unfiltered ideas to coworkers can, for many of us, feel incredibly daunting.

Overcoming our fear of exclusion

As humans, we are innately social animals. In his book “Social, why our brains are wired to connect” neuroscientist Matthew Leiberman writes “our brains evolved to experience threats to our social connections in much the same way they experience physical pain. By activating the same neural circuitry that causes us to feel physical pain, our experience of social pain helps ensure [our] survival.” Our instincts are for inclusion; to be excluded, to be socially humiliated or outcast is to fear for our survival. Research tells us that “a fear of exclusion makes the motivation to protect oneself from social threats dominant”.

In other words, the nerves that so many of us feel when faced with public speaking, pitching, meetings or presentations are a completely normal, rational response to an objective social threat and it is within our nature to actively avoid these threats.

Men lack confidence, too

It is worth noting, that when averaged to the total number of responses, of the 71% who responded that they have turned down opportunities because of confidence, 51% were women and 49% were men. Of the 16% who have turned down a promotion because they did not feel ready, 58% were women, 42% were men. This supports that whilst there are social constructs that have, and continue, to hold women back in the workplace, a fear of exclusion, of not doing it right, or getting it wrong, is very much a human response.

Seniority doesn’t ensure confidence

Surprisingly, this does not vary hugely according to levels of seniority. It makes sense to think that early in your career new experiences, such as presenting your ideas to your boss, could be daunting, though managers, team leads and businesses owners were within the 71% of have turned down opportunities because of confidence.

Commenting on the findings Kirsty Hulse, Founder of Roar Training said

I believe, passionately, that we need to start acknowledging this silent fear that so many of us carry around to prevent us from feeling as though it is an internal failing on our part, rather than just a rational response to real world threats. If we do not start to openly discuss and address confidence issues in the workplace, we miss out on a rich tapestry of ideas that come from a plethora of voices. Our stages will miss out on over half of divergent ideas because we are failing to reassure those who turn down speaking opportunities for a fear of failure. Having worked with hundreds of people on their confidence over the past couple of years, what always surprises me is how most people are convinced that it is just them who feels that way.

Confidence can be developed

Confidence is not just a thing that some people have, it can be learnt, nurtured, developed and drawn upon at key moments. We can manage our nerves, regulate our emotions and develop new patterns of thinking. As neuroscience continues to uncover more of what we understand about the brain and how this impacts our behaviours, I would go as far as to say that the development of confidence within teams will stop being an elusive skill that we silently all wish we had more of and a practical skill that we work to actively attain.

Read more about Roar Training and upcoming Confidence Workshops