by HRHQ Editorial Team
The eighth annual report of the Balance for Better Business (B4BB) Review Group, published recently reveals positive momentum across Irish business in realising more balanced boards and leadership teams. Ireland now ranks 5th in the EU for women on boards of the largest listed companies — a major leap from 16th place when Balance for Better Business was first established.
Launched by Minister for Enterprise, Tourism and Employment Peter Burke TD and the Balance for Better Business Co-Chairs Carol Andrews and Bernard Byrne, the report provides data on gender balance at board and leadership level across publicly listed, privately held and multinational companies.
Findings reveal a nearly 5 per cent increase in board representation on privately held companies to reach 26 per cent. This major step forward in narrowing the gap in board representation, demonstrates the positive impact of leadership commitment matched with measurable action.
Privately held companies, which employ the majority of Ireland’s workforce, continue to lead on senior management teams. Findings show a 3 per cent increase in female representation on the leadership teams of privately held companies to reach 31 per cent. Multinational companies, defined as foreign owned organisations with 250 employees or more, have also made positive progress. Results reveal a 2 per cent increase in representation on senior leadership teams to reach 32 per cent.
Findings from the report reveal sustained progress in the proportion of women on the boards of Ireland’s largest publicly listed firms. ISEQ20 companies have reached a new high of 42 per cent female representation on boards. This continued positive momentum means firms are on track to exceed the 40 per cent threshold set out by the EU’s Gender Balance on Corporate Boards Directive. There has now been a landmark 24 percentage point increase in female representation at board level among publicly listed companies since the B4BB initiative was founded in 2018.
The report shows that Ireland now ranks 5th in the EU for women on boards of the largest listed companies — a major leap from 16th place seven years ago when Balance for Better Business was first established. Ireland continues to perform strongly relative to its European peers regarding women executives on the largest listed companies and now exceeds the EU average of 23.7 per cent by 2.7 percentage points. No EU member states have yet reached the 40 per cent threshold on senior leadership teams.
With international momentum accelerating ahead of the deadline to comply with new rules in the EU’s Gender Balance on Corporate Boards Directive, maintaining Ireland’s leadership position will depend on continued investment in inclusive talent strategies and leadership development.
