Wednesday, July 6, 2016

Norwegian women are on board top in Europe. Nevertheless, the percentage of female … – Aftenposten

– The attitude among European directors and investors are beginning to change, from why we shall have a gender balance the boards, the how you should get it, writes Turid Solvang from Norwegian Institute of Directors told Aftenposten.

Statistics from the European Women on boards (EWoB) shows that gender balance in European controls may lead to increased innovation, competitiveness, sustainable growth and prosperity in society. These statistics are supported in a EWoB-study published Thursday.

The percentage of female directors in major European companies have almost doubled over the past five years, from 13.9 percent in 2011 to 25 percent in 2015.

EWoB publish Thursday a qualitative report on gender balance and diversity in Europe’s largest companies, STOXX 600 companies.

As an extension of EWoB and Institutional Shareholder Services Inc. (ISS) its quantitative report on gender balance and diversity in European boardrooms, launched there on Thursday a qualitative report based on in-depth interviews with 20 directors and investors. The study confirms that the Norwegian method based on gender quotas is the most effective.

Increased female representation improvements

The qualitative report aims to uncover which factors conducive to gender balance in the workplace, both in the boardroom and at the management level.

the report was prepared by in-depth interviews with executives from 20 of Europe’s biggest companies. They all agree that female directors and managers contribute to significant improvements in a number of organizations.



Among the key findings are that investors and directors of European companies are convinced that a diverse board contributes to value creation and competitive advantage.

– Today’s investors are using increasingly diversity and gender balance in its investment criteria, out of a recognition that it is “good business,” writes Solvang.

added value in European companies is multidimensional. In addition to great benefits by direct contributions from women in the control and management positions, claims that the value is dependent on a more modern business culture, which to a large extent driven forward by a more inclusive approach to management and leadership.

– Increased percentage of women on boards has contributed to diversity beyond gender. The women are often younger, more and more up to date education, and going from one step further down the career ladder, continues Solvang.

The focus on gender balance will go hand in hand with a drive towards international diversity, younger candidates and a greater diversity in the profiles and skills, is printed in the report.

Norwegian women in the control top

Gender quotas and other “soft measures” are among the schemes that can contribute positively to the American Board gender balancing, according to reports. Here comes the Nordic quota model victorious.

– Norway was the first country to introduce gender quotas on boards, and may be said to have initiated the debate on, and improving, the gender balance on the boards, writes Solvang.

the Norwegian gender quota system entails a mandatory gender balance on boards Norwegian Almmar corporations (ASA).

  • Economist Einar Lie wrote in January the head of women’s advantage in the education system. Read here.

Still far to goal

Thursday’s report makes clear, however, that the Norwegian quota system has not contributed to a similar gender balance at management level.

the report thus shows a twofold image. While in recent

years there have been employed a remarkable number of women in European companies, the number of women in management positions remains low. The proportion of women in CEO positions have only increased by 0.5 percent, from 3.0 percent in 2011, according to the quantitative report from April.

Marit Hoel, director of the Center of Corporate Diversity, states that such tendencies are not surprisingly, on the basis of the current arrangements.

– those who advocated gender quotas in Norway, and then in Europe, had very high hopes that recruitment to the board would be followed up by major changes in the management structures of the large companies. Opponents of affirmative action was afraid of the same thing – that quotas would affect recruitment to senior management. One page’s hopes was the second page’s skepticism, she said.

– Those who had a desire that recruitment would change much on the internal aspects of the company are a bit disappointed now, she adds.

Kristina Jullum Hagen is director of labor in NHO. This department is responsible for the Female Future program.

– We see that the law is effective at board level. The interesting thing is that the rationale for the law falls completely through, that is a hope that it would be a spearhead for equality in business, also at the senior management level. Now we know that quota law did not get such an effect, says Jullum garden.

NHO remains skeptical whether gender quotas is the best solution for achieving equality in Norwegian workplaces.

– We believes there is other things that are necessary to promote equality. The structural gender differences in business requires that you work long-term bottom-up, she continues.

scores low on management

Measures outside the official gender quotas has also contributed to increase gender balance in European boardrooms.

Sweden are among the countries that make use of “voluntary targets” model, and according to statistics the only country surveyed that tops Norway when it comes to gender balance and diversity.

– the reason that Sweden ranks of Norway, is that this ranking is based on several factors in addition to the number of women on the board, including the number of women in committees, the number of female CEOs and the number of female chairmen. It is on the last two Norway scored particularly low. Here it is obvious that we still have a job to do, writes Solvang.

Marianne Aalby, CFO of OBOS, is however concerned about how gender quotas as impacts in other ways. She says here in general terms, and not on behalf of the company.

– I am primarily concerned that the best person to be in the right place. One should not get jobs or directorships because of their gender and if the scheme leads one to get into less qualified women, I am opposed, she said.

Although she is concerned objectivity as the most important criterion when it recruited to boards and executive positions.

Read also during the next year, the western world’s three largest economies become ruled by women.

Kvotesmitten

Aalby still think that gender quotas scheme may have had a partially positive spillover effect.

– I think it may have had a positive impact beyond Norway’s borders. Moreover, the scheme brought focus on things other than sex, such as corporate governance, diversity and expertise, she said.

Marit Hoel thinks it is primarily other European countries that have been infected by the quota system. Belgium, France, Germany and Italy are among the countries that have used similar solutions.

– When Norway came the goal of the scheme in 2008, so enough other countries that this was a very effective way to speed up in which had stood still for very long, she said.

she also adds that the scheme has changed gender culture in Norway in companies not covered by current legislation.

– We have observed that the proportion of female directors increased in groups, so also started this culture to propagate in aS-one, she adds.

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