Despite years of campaigning, it seems the appointment of every new female CEO is still seen as news, rather than the norm. The appointment of Paula Nickolds as managing director of John Lewis this week is no different (First woman to take helm at John Lewis in 152-year history, 26 October).
The World Economic Forum’s Global Gender Gap Report revealed on Wednesday that the UK has slipped further down the rankings of gender-equal countries. Depressingly, it seems the fight is becoming even harder to win. The Forum’s findings suggest women effectively work for free for 57% of their day. That means women who have reached a senior position through years of dedicated service, will have made considerable financial sacrifices, as well as the usual balancing act around home, family and social life.
Our own research, Women in Financial Services report, shows that many high-flying women are still facing a mid-career conflict and a less attractive “career trade-off” than men. Insufficient flexible working options, inadequate support for family responsibilities, shortcomings in promotion and equal pay processes, and the unconscious bias in culture, present significant structural obstacles.
Some industries are less forgiving than others; our report found that female representation on financial services boards globally will only hit 30% in 2048.
Gender parity is not just about doing the right thing, it’s good business. We still need a change in attitude and culture towards a more diverse way of working. It is up to current business leaders to take a stand and create equal opportunities so the next time we have a new female CEO, it doesn’t make the news. For all the right reasons.
Dr Rebecca Emerson
Head of UK, Oliver Wyman
• Graham Ruddick (Financial, 26 October) says Paula Nickolds has “climbed her way to the top”. Really?
Mike Savage et al, in Social Class in the 21st Century, use climbing a mountain as a metaphor for social mobility. Their analysis suggests that somebody from Ms Nickolds’ background – her father was international director of Marks & Spencer, a member of the elite – has, in reality, had to do very little climbing. Being endowed with social, cultural and economic capital, she started at a very high base camp. This is unlike those from the least privileged backgrounds in the battle who need to start in the valley bottom.
Martin Pilgrim
Hoath, Kent
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