NWCI launch Better Boards, Better Business, Better Society

Published: Wednesday, March 18, 2015

In the lead up to International Women's Day, NWCI launched our latest publication "Better Boards, Better Business, Better Society."

Renowned Icelandic woman entrepreneur, Halla Tomasdottir launched the new National Women’s Council of Ireland handbook, which aims increase the number of women on boards in Ireland today. The event was chaired by broadcaster and publishing entrepreneur, Norah Casey and co-hosted by the European Parliament.

According to Halla Tomasdottir, Co-founder of Sisters Capital, Iceland,
“Board performance is largely dependent upon us tapping into the economic power and potential of women.  It is neither smart nor sustainable for companies and economies to ignore the fact that diversity winners are pulling further ahead and diversity laggards are falling further behind. Women bring to the boardroom table a different attitude to risk, a leadership style that has been shown to fit current realities well as well as different moral and ethical attitudes, all of which help explain why their input is vital at all times, but even more so in times of uncertainty and economic difficulties.”

Increased numbers of women in senior decision making and in paid employment is critical for women's equality and for building a sustainable modern economy. The decisions that are made in Board rooms affect all aspects of our lives, excluding over half the population does not lead to effective and productive solutions.   More women in senior decision making will help to reduce the gender pay gap; address the skills shortages and also help address the segregation of women and men in employment. We need to shift the balance of power between women and men in Ireland and addressing the absence of women in boardrooms is central to making this change.

Our handbook not only examines why, but also how, to achieve gender balanced boardrooms. It calls on Government and businesses to take specific and targeted measures to increase the number of women on boards. Quotas have real merit as a mechanism for overcoming structural inequality. However quotas will only achieve lasting success, when used as part of a larger strategy that tackles board requirements. Leadership is critical from government, Chairs and CEOs. To ensure targets are met, we also need an independent review, as well as industry led gender targets, reflected in governance codes, and companies must be obliged to ‘comply or explain’ on progress.

You can download a copy of the handbook here.

The Irish Times Business section carried an interview with Halla in the lead up to the launch, which can be read here.