Call for S&P/ASX200 companies to set benchmarks for women in leadership

HESTA chief executive Debbie Blakey is calling on S&P/ASX200 companies to set specific timeframes and targets for the number of women who will be employed in senior executive roles, labelling Australia’s lack of corporate diversity “critical”.

Publicly-published timeframes and annual reports on progress toward better representation of women in executive positions was the focus of Blakey’s letter to S&P/ASX200 companies, in which she also gave recognition for recent improvements in transparency over gender issues.

“We see diversity as an accurate indicator of a well-run company more likely to deliver long-term value to shareholders, and, therefore, better long-term returns for our members,” she said.

“While a lot of attention has rightly been paid to the number of women on boards, we also need to increase the number of female senior executives to improve decision-making and support a healthy pipeline of women qualified to join boards in coming years.”

On behalf of HESTA, Blakey has called for a minimum 30 per cent target to be met and said her letter had the support of the Australian Council of Superannuation Investors (ACSI).

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“Women in senior leadership are also important role models who can foster diversity and champion a work environment that encourages other women to stay in the workforce and seek advancement,” she said.

“Having women in senior leadership flows through to all levels of an organisation, creating a more inclusive work culture and greater career opportunities for women.”