Gender Diversity In Australia
The Land Down Under, Under The Microscope
The benefits of diverse leadership teams are gaining traction in the business world. There have been an increasing number of studies surrounding the debate whether a leadership team with gender diversity has a tendency to yield higher profits for companies.
In this paper, CGLytics explores boardroom gender diversity in Australia, with a particular focus on the upcoming ASX diversity targets.
- Australia is far from reaching the ASX Code target – companies are lagging well behind the target of 30% of female board members by January 1st 2020.
- Women comprise less than 15% of all CEO and chair positions
- The Issue of Overboarding – 69.7% of women hold more than four board positions, demonstrating a need to develop new candidates and look outside exisitng networks.
Investors expect companies to embrace change and respond to their proscriptions with regards to gender diversity. There exists a sense of urgency for Australian companies to address the issue of gender diversity, as this trend will likely expand in scope to include other areas such as ethnicity and age.
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In order to widen the pool of candidates so boards can hit targets for skills and diversity, nominations and governance committees need to make use of data driven tools.
The CGLytics tool for Nominations and Governance committees gives boards access to over 125,000 director profiles, filterable by age, gender, skills and experience.