Employment inequality is still the norm in boardrooms across the globe, where men in suits continue to dominate both exec and non-exec roles. Yet new legislation in Norway has effectively addressed this imbalance, as Yvonne Roberts outlines in today's G2.
Two years ago, after several years of voluntary compliance had failed to lead to a sufficient number of female board members, 463 "ASAs" - publicly listed companies over a certain size - were told to change the composition of their boards or risk dissolution.
Companies have responded overwhelmingly positively, with only a handful still flouting the rule on February 22, the final date for compliance. This means that with 40% of director posts now held by women, Norway has the global record for the highest proportion of female non-executive board directorships. The law also means that on a female dominated board there would have to be 40% male representation.
Could this be the start of a wider global trend? There is certainly a financial motivation for business to consider following suit. In 2004 the US thinktank Catalyst reported that the Fortune 500 companies with the highest representation of women on the board significantly outperformed those with the lowest averages.
And if you need more persuasion that business can no longer rely on so called "manonomics", read the reasoning behind Avivah Wittenberg-Cox and Alison Maitland's manifesto Why Women Mean Business.
Back in Norway, economist Benja Stig Fagerland and friends set up the Female Future a scheme to help female career progression. Below the board level, some clearly still seem to think there is some way to go - but is the Norwegian legislation an example the rest of the world can follow?
