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Female talent needed in FTSE 350, says Cable

Vince Cable, the Coalition Business Secretary, has urged headhunters to actively seek female talent to bring into their companies.

He called for complete transparency from all executive search firms on Friday, and encouraged headhunters to publish details of the gender balance on their boards.

Dr Cable said: “The great majority of business leaders I meet with now recognise the economic case for gender balance and are actively working with us to increase the number of women on their boards and executive committees.

“But we must also challenge the paternalistic culture and silent assumptions about women’s priorities that are ultimately keeping the glass ceiling in place.

“Headhunters have a crucial role to play in making sure there is a diverse pool of talent for business to choose from.

“So we are urging them to fish in a bigger pond, to identify new talent and to shine a spotlight on the selection and appointments.

“I’m delighted that eight executive search firms have today agreed to publish the data they collect on the percentages of men and women longlisted, shortlisted and appointed to executive positions.This will allow businesses to work with search firms that promote and are transparent about this agenda.”

Speaking at an event at the London Stock Exchange, hosted by the 30 Per Cent Club, the Business Secretary also urged CEOs of the FTSE 350 companies to invest in the talented individuals in their organisations, and develop a strong line of long term female executives.

Dr Cable added: “The Government also needs to think about improving the gender balance on our steering committees, in our stakeholder groups and our overseas delegations. “

I am using every opportunity to drive this message home in my own department and across government and maintain the momentum we’ve seen since Lord Davies published his review 18 months ago.“

The Cranfield School of Management issued a report today which showed that female executives now account for 17.4% of FTSE 100, while 12% of board positions in the FTSE 250 are filled by women.

Over last half of the year, the percentage of women appointed to FTSE 100 roles went up to 44.1%, with 36.4% in FTSE 250 firms.

This was posted in Bdaily's Members' News section by Miranda Dobson .