by HRHQ Editorial Team
The Government established independent review group, Balance for Better Business (B4BB), has published a new report encouraging privately held companies to aim for 40%+ gender representation on boards and leadership teams.
Since its launch seven years ago, Balance for Better Business (B4BB) has played a key role in transforming gender diversity on the boards of publicly listed companies — increasing female representation from just 18% to 40%. Now, B4BB is setting its sights on the private sector, which forms the backbone of Ireland’s economy, to extend that progress even further.
Privately held companies in Ireland employ just over 70% of the workforce and are deeply embedded in communities right across this country. Yet, to date they are behind listed firms when it comes to board-level gender balance. In 2023, women held 22% of board seats in large Irish-owned private companies, compared to 39% in ISEQ20 firms. Positively private companies are ahead in leadership team diversity, with women occupying 28% of senior roles — a strong foundation to build on.
To help close the gender gap in private sector leadership, Balance for Better Business published a new report titled “Gender Balance in Privately Owned Companies: An International Perspective and Strategies for Success.” The paper outlines a clear set of recommendations aimed at supporting privately held companies in making meaningful progress — from enhancing transparency and reporting, to implementing sector-specific strategies and fostering leadership-level commitment to change.
The top five recommendations included within this report include:
Driving Change Through Transparency
Only 16% of private companies voluntarily report gender balance data. The report calls for stronger public reporting, noting that “what isn’t measured, won’t change.” The EU’s Corporate Sustainability Reporting Directive (CSRD) offers a timely opportunity to standardise and publish this data.
Tailored Strategies by Sector
The report stresses that a one-size-fits-all approach won’t work. For example, female board representation ranges from 17% in consumer staples to 32% in telecoms and utilities. Sector-specific strategies are needed to address unique industry challenges.
Leadership Starts at the Top
Owners and investors play a critical role. When gender balance is prioritised at the top, it cascades through the organisation. Setting clear targets, appointing more female independent directors, and embedding accountability can unlock better governance, broader perspectives, and stronger performance.
Set Ambitious Targets and Track Them
Success starts with a plan. Organisations should set clear, measurable gender balance targets by function and level — and be bold in their ambition. Regularly tracking progress against these targets helps identify what’s working and where more focus is needed. Transparent measurement not only drives accountability but also builds momentum for change.
Use the B4BB Roadmap to Accelerate Progress
No matter where your organisation is on its gender balance journey, the B4BB roadmap offers practical, actionable guidance. From succession planning to leadership development, it lays out structured steps to help businesses embed gender balance at board and senior leadership levels. It’s a proven tool to turn intention into impact.
Commenting on the release of the research, Minister for Enterprise, Trade and Employment Peter Burke TD, said, “In a more volatile world, realising a more balanced system of business leadership is important to enhancing the future growth and competitiveness of Irish business. More inclusive organisations are better equipped with the capabilities and diverse perspectives to advance innovation and successfully navigate change. It’s crucial that we support each and every organisation in Ireland to advance their gender balance journey and realise the benefits of balanced leadership.”
For the full report visit betterbalance.ie
