The 2023 OnBoard report indicates improvement in female inclusion in Georgia's business leadership, but it also reveals persisting issues such as compensation disparities and prejudices.

Representation is crucial, especially for business. Not only does is it ethically the right thing to do, but also makes business sense. This has prompted various countries to actively work towards policy change that mandates companies to onboard female board-members.

Despite the proactive measures, women’s representation remains rather low. The good news is that, some steps in the right direction have been made.

Take for instance, the rise in number of women in United State’s state, Georgia. According to the 2023 report by OnBoard, a long-standing organization committed to tracking and pushing for diversity in corporate leadership, women currently form 25% of all directors serving on the boards of Georgia's listed corporations, representing a tremendous advance toward gender parity.

The study, which was unveiled on November 2nd at the annual Lettie Pate Whitehead Evans Award Dinner, highlighted both advances and places for additional growth in women's participation in Georgia's business boardrooms. While there has been progress, there are still obstacles to achieving gender equality.

The Quest for Gender Parity: A Work in Progress

The report depicts Georgia's corporate boards' continued path toward gender parity. The ambitious objective of the organization is to attain parity - 50% or greater representation of women in these leadership posts.

OnBoard CEO Lisa Robinson emphasized the importance of the "fill rate," which reveals if women are making genuine progress in boardrooms. The drop in the percentage of women occupying newly available board seats from 40.4% in 2022 to 34.9% in 2023 is a clear reminder of the ongoing issues. Lisa emphasizes the importance of perseverance until gender justice is so deeply embedded that it no longer requires counting.

Kim Greene, Georgia Power's chair and CEO, stressed the necessity of continuous success. Greene, the 2023 Lettie Pate Whitehead Evans Award laureate for her outstanding efforts advancing women's growth, believes that genuine parity remains an unattainable objective. She cautions business executives not to grow complacent, underlining that there is still more work to be done.

Positive Trends in Women's Representation

Positive developments can be found in the 2023 report. The number of public firms in Georgia having three or more women on their boards climbed from 43 to 45, while the overall number of companies decreased from 126 to 117. There was just one Georgia firm with three women on its board in 2008, so the current tally of 45 is a big improvement. Notably, 21 of these firms have more than three women on their boards of directors.

Coca-Cola leads the way with seven female directors, attaining gender parity on its board with an equal number of men and women. Intercontinental Exchange is the only Georgia firm with more female directors (six) than male directors (four). First Advantage Corp. also achieves gender equity, with four women and four men on its board of directors, a notable achievement.

These accomplishments show that corporations are going beyond symbolic inclusion of women on their boards. Rona Wells, the study's compiler for decades, emphasizes the rising realization among corporate executives that diversity is beneficial for business.

A Journey from 4% to 25%: A Historical Perspective

When evaluated through a historical viewpoint, the advancement in women's representation is remarkable. Women held fewer than 4% of director seats in Georgia's listed enterprises in 1994. By 2015, this proportion has more than doubled, rising to 12.1% in less than a decade. As Rachel Perry, OnBoard chair and Chief Innovation Officer for AON, attests, the development is significant.

Despite the progress, obstacles remain. Kim Greene's experience working at Southern Co. in the early 1990s, when she was sometimes the only woman in the room, exemplifies the continuance of gender inequity. Greene's commitment to pave the way for future generations of women emphasizes the necessity of fighting for equality.

Challenges in Representation of Women of Colour

While there has been progress, the participation of women of colour on the boards of Georgia's major companies remains an issue. According to the 2023 report, women of colour held just 6.3% of the 991 board seats, a record high since OnBoard began tracking this area in 2002. While this is a big accomplishment, there is still potential for growth.

Rachel Perry, the head of OnBoard and a woman of color, agrees that there is still work to be done. Celebrating the all-time high is important, but so is pushing for greater representation of women of color in business leadership.

Sustaining Momentum for Change

The amazing success reported in OnBoard reports throughout the years reflects the dedication of many individuals and organizations committed to diversity and inclusion. However, the recent drop in the fill rate highlights the need for even more concentrated efforts to guarantee that women continue to gain ground in corporate leadership roles.

Many corporations displayed a high level of "intentionality" in diversifying their boards and management teams between 2020 and 2022. Rachel Perry is concerned that firms, particularly those headquartered in Georgia, are lowering their emphasis on diversity and inclusion. She is still committed to holding corporations responsible for their commitment to inclusion and diversity.

Kim Greene, the awardee and champion for gender equality, looks to earlier trailblazers such as Lettie Pate Whitehead Evans, who was one of the first women to serve on a corporate board. She believes that, in the not-too-distant future, the terms "first woman" will be a thing of the past, and that true gender parity will be a reality in Georgia's business boardrooms.

To summarize, while Georgia's business environment has made significant steps toward gender parity, the trip is far from over. The report serves as a reminder that more work is needed to ensure that diversity and equality are the rule rather than the exception in the boardroom. Women like Kim Greene and groups like OnBoard serve as progress lights, illuminating the path to a more equal future in corporate leadership.