Gender Gap in Key Corporate Roles Despite Increased Women Hires

According to a survey by gender consultant The Pipeline, Britain's major corporations are promoting women to executive leadership positions at the quickest pace in five years. However, a substantial barrier persists: these women are frequently assigned to functional responsibilities rather than powerful positions supervising the business's commercial components.

According to the research, which is based on statistics as of July 2023, women make up approximately one-third of the FTSE350 executive committee members. Unfortunately, a tendency has emerged in which women are mostly put in tasks connected to human resources and marketing, with little profit and loss responsibility, which is required for advancement to CEO positions. Male CEOs continue to dominate, accounting for 91% of the index.

The Pipeline's chair, Sue O'Brien, underlined the need of firms scrutinizing workplace culture and ensuring equal and merit-based advancement methods. She went on to say, "Taking care of, developing and investing in the workforce you already have is a priority."

Despite the fact that women in CEO roles have surpassed the 30% mark for the first time, a significant sectoral gap remains. At the executive level, industries such as transportation, power, and insurance are approaching gender parity, but real estate and mining lag behind. The survey also shows the lack of female executives in the private equity sector.

As the City of London grows more frustrated with the sluggish pace of gender equality, parliamentary committees and industry watchdogs are examining steps to address underrepresentation and advancement. According to the survey, main barriers highlighted by women seeking to develop in corporate leadership roles include workplace culture and climate, as well as flexibility and career advancement.

Sue O'Brien raised alarm about the report's "glacial rate of progress toward gender parity," emphasizing the need for significant reforms in business operations.