SEVERAL of Scotland’s biggest businesses are on track in their bid to ensure women hold one-third of board level positions by 2020.
The news came as the UK Government-backed Hampton-Alexander Review for 2018 revealed a progress update for firms in the FTSE 100 index.
In Scotland, there are currently 10 companies listed on the FTSE 350. Three are already meeting the target of more than 33% females at board level by 2020, with another one currently on track to do so.
The findings, presented by Denise Wilson, CEO of the Hampton-Alexander Review, at the official launch event in Edinburgh this week, revealed that across the FTSE 350 almost one in four companies in the UK have only one woman on their board. This means half the appointments to board positions will have to be filled by women over the next two years to hit the targets.
At FTSE 100 firms in Scotland, Royal Bank of Scotland is falling behind on its target for female representation at board level (23%), but is already exceeding 2020 targets at executive committee representation (34%).
Similarly, Standard Life Aberdeen, which has 21% of board positions filled by women, has 32% female representation at executive committee level.
Within the FTSE 250 index, Scottish companies also perform well at board level, with 40% of the Scottish Investment Trust’s board made up of women, and an executive committee made up of 33% female representation.
Wood Group also ranks highly, with 40% of board positions filled by females. Similarly, Aggreko and the Weir Group have 33% and 30% female board level representation respectively.
KPMG, sponsor of the Hampton-Alexander Review, explored this year’s findings and looked to the future as part of the launch event.
Catherine Burnet, senior partner for KPMG in Scotland, said: “There has been some excellent progress made through the work of the Hampton-Alexander Review since its inception. The growing number of women on boards and among the leadership of FTSE 100 and 250 firms reflects the efforts and change in emphasis businesses have placed on tackling the gender gap.
“However, in Scotland and across the UK, it is undeniable more must be done to achieve true equality and we must all redouble our efforts.
“The momentum created by the review has to translate into faster change in the future, motivating leaders to look at the demographics of their teams at every level. This requires systematic focus on all aspects of recruitment, and retention.
"The progression of women is key, coupled with an emphasis on creating an environment in which talent can thrive, leadership stereotypes are challenged, and individuals are valued for their skills and capabilities.”
The review discussion in Edinburgh highlighted key elements businesses must ensure are in place to help facilitate more women at a senior level.
These included having a culture which actively champions diversity from the top level down, is crucial.
Business leaders should also lead by example, taking responsibility for pushing through changes – including recruitment – to promote the right environment for females to progress.
This culture, it was concluded, must be bolstered with a robust HR arm to help implement flexible working policies – combined with a shift in culture. These elements were deemed key to changing mindsets and paving the way for positive change at board level, executive committee level and beyond.
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