As the Trump-inspired pushback on diversity and equality initiatives in the US continues, it is no surprise that some companies have capitalised on that to make a few cuts of their own. With the leader of one of the world’s superpowers providing cover, why wouldn’t they?
It makes the work of initiatives such as Balance for Better Business (B4BB) even more important. The review group, which was set up in 2018, has been working for the past six years to address gender balance on the boards and leadership teams of Ireland’s largest publicly listed companies.
Now, however, B4BB is hoping to get the private companies on board too.
The move away from the Iseq20 is a good one. Although it made sense initially to focus on the big public companies, the number of staff now employed by them pales in comparison to the private sector. Any shift in leadership can have a significant impact on the B4BB figures, as it did for example when two women chief executives stepped down in 2024 from the Iseq20 firms, leaving no women chief executives in that cohort.
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Another nugget from the report revealed that there was an increase in all-men leadership teams in the Iseq20 companies to 20 per cent, up from 16 per cent.
It shouldn’t be that difficult to persuade companies that a more diverse leadership will benefit the business. There are numerous studies backing up the assertions that more balanced businesses are more competitive and driving growth. EU regulations are also driving change, compelling companies to have more balanced boards.
But there is a tough slog ahead for the group as it shifts focus to the private sector. In some areas, change will be slow as the availability of female talent remains low. That is something that needs to be addressed at a much broader level than individual companies.
To borrow an old political slogan, a lot done, a lot more to do.
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