According to a recent report, 12 % of those in High-level positions are of the female gender. And as per additional data from the Chief Executive Women, just 3 out of 10 executive positions like legal, strategy and IT belong to women from ASX20 companies.
Also, the same women are in charge of only 12 % of prestigious and top dog roles like C.EO.s. Just 30 % of coveted senior executorial seats in legal, IT and strategy are in the hands of these women.
Chief Executive Women, an institute whose primary objective is to give voice to female Australian leaders in the academic, public service, non-profit and corporate field, availed the aforementioned statistics to the world through a publication. Researchers obtained the information during a censor that was conducted in August this year and featured a host of companies under the umbrella of ASX200.
There are a handful of institutions that hide under the façade of meritocracy to conceal an underlying reality of gender inequality. Across 41 of the sampled ASX200 executive teams that have the final say on operational matters, 20.5 % recorded no female participation at all. A further 60 companies, a representative of 30 % of the total sample population, are experiencing a similar situation on the functional roles front when it comes to executive leadership.
Influential positions in management like CEO and basically any other role that has a hand in determining essential market results are labelled as “Line roles”. Such positions play a crucial part when it comes to loss and profit; ultimately, the buck stops with them in either scenario.
On the other hand, functional roles are those that facilitate the everyday smooth running of the company. They encompass duties in the legal area and IT and corporate affairs.
The report further brought to light the fact that just 9 in 100 of Chief Financial offers are female. It also found that out of every hundred Chief operating officers or group executives only 13 of them are women.
However, it’s not all gloom news, as compared to a similar research conducted barely a decade ago, there is a remarkable improvement. Back then, a staggering 46 % of ASX200 organizations had no women leaders in their executive makeup, a figure that has dwindled to a commendable 20 % this year. What’ more, there are now 11 female CEOs as opposed to the four that held replica roles nine years ago.
Kathryn Fagg, the president of Chief Elective Women downplayed the progress but she did acknowledge that indeed they were steps in the right direction albeit small ones. She pointed out that nothing would please her more than to see further advancement.
Kathryn went on to add that the census would be an annual activity going forward. She also outlined that it would be necessary keep tabs on the prestigious companies as they are bound to shake up the organizational tree. This, she argues, will depend on the communities emerging issues and trends.
The report culminated in emphasizing that leadership would be required to win the battle of gender bias.
According to their research and experience, the entire leadership from the board, chairman to the CEO, must speak in one voice if they are to seriously deal with matters of gender equality. It must become a priority. Moreover, they should walk the talk and publicly educate the masses on the benefits of gender balance to the society in its entirety.
Investor groups will show directors in charge the door should the board not have a single woman in place.
Women are viewed in a different light to their male counterpart so much so that their pay slips are different from those of men at every stage of the organizational chart. This is according to sociologist Eva Cox, who aside from handling research had also back in the day been a political adviser. She still is available for political consultations though.
It would be prudent to think that embracing gender balance at the bottom of the chain at the workplace is sufficient arguing that the high-level positions that hold the final say are too sensitive. She also states that ASX200 women shouldn’t get preferential treatment though they should be heard as much as much as anyone.
She also believes raising the reputation of senior women in the executive role would also not cut it. They need to be allocation when coming up with strategies, structures and goals of the organization.
Women movements have also served to unintentionally do more than good, according to Eva, as they have engulfed and drowned it in the endless sea that is the neo-liberal cordial. She pushes for women to come into their own rather than looking to be recognized through the eyes of men.
Furthermore, she advocates for prioritizing the society and social aspects of the market rather than punitive economics. Apparently, according to Ms Cox, it is easier to keep in check people compared to money hence why lower paying roles like human resource duties are left women while lucrative executive financial duties are a privilege of the male species.
In the seventies, she recalls that they had an emblem that defiantly belittled women who would push for a rightful share of the company’s hierarchal meat. She believes it seems that the equal power allocatation fight is slowly fading out of memory and that women are still playing second fiddle to men and their policies in order to climb up the ladder.