Proportion of women on Swiss boards of directors rising slowly
In 18 years, the proportion of women on Swiss boards of directors has risen by only 20.1 percent, from 9 percent in 2004. This is the observation of the human resources consulting firm Egon Zehnder. The conclusion for the gender balance on Swiss boards of directors from 2004 to today: the direction is right, the pace is too slow.
The HR consulting firm Egon Zehnder has published the results of the Global Board Diversity Tracker 2022. The study has been analyzing how diverse boards of directors are in terms of gender, age and internationality on a global level since 2004. The results show that the proportion of diverse boards is only increasing very slowly. Switzerland in particular is still lagging behind in terms of diverse appointments to management positions. For example, since the first study 18 years ago, the proportion of women on Swiss boards is only 29.1 percent. This is below the Western European average of 35.5 percent. France has increased its share of women from six percent to a total of 45.3 percent since 2004 and thus leads the Western European countries.
Increase the proportion of women: The pace in Switzerland is too slow
All of the Swiss companies analyzed have at least one woman on their board of directors: 100 percent of the Swiss companies analyzed now have at least one female board member. In 2020, the figure was still 97.6 percent. While this would be pleasing, "The results should be a wake-up call for male and female managers in Switzerland. There needs to be a rethink when it comes to filling top positions," says Dominik Schaller, Managing Partner of Egon Zehnder Switzerland. "Because change must start at the top of the company. Only then can leaders from diverse backgrounds act as role models for the entire organization and shape an inclusive culture."
Looking at Western Europe as a whole, the proportion of women on boards of directors has increased more rapidly in the past two years than in the previous ten. Today, significantly more women are part of a board of directors than the global average. This is also true in Switzerland, but it should also be noted that of the total 10.6 percent of new board seats, 6.8 percent were held by men and only 3.8 percent by women. The average board size in Switzerland comprises 9.7 seats.
Internationalization of boards of directors globally sluggish
Regardless of gender, the average proportion of board members with an international background is around a quarter at global level - and has been falling in almost all world regions since 2012. Western Europe, with an average of almost 39 percent, is the only region to record a continuous, albeit rather slow, upward trend. Switzerland is an exception here, with a share of 63.5 percent, well above the Western European average. Of note here is the very high proportion of female board members with an international background, which in Switzerland is as high as 75.8 percent.
"The fact that the talent pool for female board members in Switzerland is mainly abroad is food for thought," says Simone Stebler, consultant and Head of Diversity & Inclusion at Egon Zehnder Switzerland. "Diverse talent pipelines need to be built, especially for CFO and CEO roles. Diverse teams are not only more successful economically, but also more innovative in product development, more resilient in crises and more creative in problem situations. Building an inclusive corporate culture is essential to attract and develop these diverse talents - all the way to the highest levels of management."
Source: Egon Zehnder
