What Will It Take to Get More Women on Boards?

From Kellog Insight authored by Victoria Medvec:

“Women are a rapidly growing economic force in many leading and developing economies. In the United States, for instance, women have influenced or controlled nearly three-quarters of household spending for the past several years, and their spending share may be as high as 80 percent, particularly when it comes to grocery and other retail purchases.

It is critical for companies to ensure that they represent this important customer base within the boardroom. Without greater female representation on their boards, companies are losing out on not only an important segment of talent, but on a critical marketplace perspective.

While boardroom gender diversity has been slowly increasing, it remains modest in comparison to women’s influence on spending. Among S&P 500 companies, women account for 19.9 percent of directors; globally, the number is about 14.7 percent.

Getting more women serving on boards will take a proactive approach by both companies and female director candidates. Here are ways to build more momentum around this effort.”

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