Women are poorly represented on corporate boards, even though research indicates that Fortune 500 firms with more female board members outperform those with fewer women in a number of important categories. Women comprise less than 15 percent of board positions of large, publically-traded companies, although they comprise more than half of all US managerial positions.
In a release from Simmons School of Management in Boston, on March 31, 2008, organizations who want more women board members need to change their traditional search procedures and women who aspire to board membership need to develop a solid plan to get there.
Many organizations, including OnBoard Bootcamp, Boardroom Bound and a program offered by The University of Texas at Dallas offer training and contacts to women interested in pursuing a board position and who are willing to devote the time and money needed to get there. These packed-full sessions coach women interested in board membership on everything from creating a search strategy to financial issues to understanding corporate governance.
Candidates should research various training programs to make sure they offer practical advices as well as policy and procedure information. They should find out what percentage of their graduates is invited to serve on corporate boards. They also need to research corporations they are interested in; find out if they have director insurance, what their values and philosophies are and numerous other items as part of their readiness program. Additionally, there are books, search firms, organizations and other avenues available to women.
In addition to a resume with the right skills and experiences, potential board members usually have nonprofit, trade associations and advisory board experience, which is much easy to obtain. They also need to be visible leaders in their community and industry. Most women need to realize that they will probably be asked to serve on moderate size company boards prior to a Fortune 500 corporation invitation.
According to Catalyst, from 1995 to 2005, the average rate of increase in women’s representation on Fortune 500 corporate boards was, on average, one-half of one percentage point per year. At that rate of growth, it could take another 70 years for women to reach parity with men. This is definitely an evolving issue and won’t be solved overnight.
Women are poorly represented on corporate boards, even though research indicates that Fortune 500 firms with more female board members outperform those with fewer women in a number of important categories. Women comprise less than 15 percent of board positions of large, publically-traded companies, although they comprise more than half of all US managerial positions.
In a release from Simmons School of Management in Boston, on March 31, 2008, organizations who want more women board members need to change their traditional search procedures and women who aspire to board membership need to develop a solid plan to get there.
Many organizations, including OnBoard Bootcamp, Boardroom Bound and a program offered by The University of Texas at Dallas offer training and contacts to women interested in pursuing a board position and who are willing to devote the time and money needed to get there. These packed-full sessions coach women interested in board membership on everything from creating a search strategy to financial issues to understanding corporate governance.
Candidates should research various training programs to make sure they offer practical advices as well as policy and procedure information. They should find out what percentage of their graduates is invited to serve on corporate boards. They also need to research corporations they are interested in; find out if they have director insurance, what their values and philosophies are and numerous other items as part of their readiness program. Additionally, there are books, search firms, organizations and other avenues available to women.
In addition to a resume with the right skills and experiences, potential board members usually have nonprofit, trade associations and advisory board experience, which is much easy to obtain. They also need to be visible leaders in their community and industry. Most women need to realize that they will probably be asked to serve on moderate size company boards prior to a Fortune 500 corporation invitation.
According to Catalyst, from 1995 to 2005, the average rate of increase in women’s representation on Fortune 500 corporate boards was, on average, one-half of one percentage point per year. At that rate of growth, it could take another 70 years for women to reach parity with men. This is definitely an evolving issue and won’t be solved overnight.
I don’t think of my blog as a place to discuss politics, but I have been amazed at how many people have assumed that women will vote for Sarah Palin, not on her merit, but because she is a woman. I am obviously in favor of encouraging and helping women to achieve their full potential, including breaking the ultimate glass ceiling. Whether it is in business or the political arena, they should be qualified for the job. I don’t think promoting a woman, just because she is a woman, is either a good business decision or helps women.
Of course like many others, I would love to see a woman in the White House. But I won’t be voting for or against Sarah Palin on the fact she is a woman, just as I won’t be voting for or against Obama because he is African American. I hope everyone reading this blog exercises their privilege to vote, and votes for the team that they feel is best for America based on whatever criteria they deem most important, which shouldn’t be gender or race. 
