1. There has been little improvement in the gender diversity levels of senior management ranks
2. Pay equity between men and women has not improved
3. The gap between women in the boardroom and women in management remains high Unfortunately, the gap between boardroom and executive ranks for women remains substantial.
Women are still seriously underrepresented at the KMP (and executive director) level in ASX 200 companies. The proportion of women KMPs has increased from 8 per cent to 13 per cent between 2011 and 2014, while at the same time the proportion of women NEDs has reached over 22 per cent and is on track to reach 30 per cent in the next few years.
The lack of gender diversity in the senior executive ranks of ASX 200 companies suggests poor talent management when the graduation rates of women from Australian universities are considered. Women continue to outnumber men as graduates from Australian universities. Data from Graduate Careers Australia shows that female graduates dominated in the fields of accounting, economics and law, comprising 53.2 per cent, 62.0 per cent and 60.8 per cent of graduates respectively.
The predominance of women graduates is well established. According to the Australian Bureau of Statistics the participation of women in higher education in the 15-24 year age group has outnumbered men since 1989.
Logic suggests that companies that manage their talent well should outperform their peers, and one of the key elements of managing talent is ensuring that a full range of skills and abilities are available and utilised effectively throughout an organisation.
(excerpt from the Executive Summary, BlackRock Investments)