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).
“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.”
AUTHOR
Hope William-Smith
Recommended for you
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
The second tranche of DBFO reforms has received strong support from superannuation funds and insurers, with a new class of advisers aimed to support Australians with their retirement planning.
