Very little has changed when it comes to women serving on corporate boards. The percentage still hovers around 10 percent, no different than in 2007. It seems the system is still being controlled by the boys club.
However, that is about change as a federal committee is in the process of coming up with a plan to get more women on the board of directors.
Status of Women Minister Rona Ambrose has recently stated that now is the time for action instead another lengthy report. This time around she wants “action –oriented” recommendations from her committee by the fall.
I believe what is required for the committee is a mandatory policy because otherwise very little will change if left up to the organizations. Policies placed in other countries such as in Australia where companies need to comply or explain why action has not been taken.
Eight other countries including Britain and Norway have also implemented similar policies where a certain percentage of women needed to be required in the board room to reflect diversity.
Canada ranks 10th for women on boards among the 20 major industrialized companies.It seems Canada is slow to catch up to the other western nations. Hopefully the next phase, the government will look at the percentage of visible minorities in the boardroom where crucial decisions are made.
The top business executives need to keep in mind that having diversity in the boardroom brings about different ideas, solutions and thinking in any organization. This is more important now than ever before as the global market is becoming smaller and more competitive.
For any organization to be successful, they will need to “think out of the box”.