The review group, Balance for Better Business (BfBB), has published its Annual Report (the Report) on achieving gender balance on the boards of Irish companies. BfBB was set up by the Irish Government in 2018 to monitor, report and give recommendations on gender diversity on Irish company boards and leadership teams.
2023 marks the end of BfBB's first set of five-year targets and a new five-year strategy will be published in 2024. The Report highlights that, while a lot of progress has been made, there is still much to do to achieve gender parity. The key findings of the BfBB on board and leadership team composition as of 1 September 2023 are set out below.
Women on boards of Irish companies
| Company type | Percentage | Progress |
| ISEQ20 (large listed companies) | 39% | exceeded target of 33% (and 33% quota set by the EU's Women on Boards Directive) |
| Other listed companies | 28% | exceeded target of 25% |
| Private companies | 22% | missed target of 30% |
| Company type | Percentage |
| ISEQ20 | 0.0% |
| Other listed companies | 12.5% |
| Private companies | 41.1% |
| Company type | Executive | Non-Executive |
| ISEQ20 | 13% | 45% |
| Other listed companies | 7% | 36% |
| Private companies | 48% | 52% |
“Unlike at board level, progress at leadership level has been slow" and has "decreased year on year in most cohorts."
| Company type | Percentage | Progress |
| ISEQ20 | 27% | missed target of 30% |
| Other listed companies | 16% | missed target of 25% (down 5% on 2022) |
| Private companies | 16% | missed target of 35% |
According to the Report, the top three sectors for board representation are also those most likely to have targets for the representation of women at a senior level. The Report also notes that there does not appear to be a strong relationship between higher levels of representation of women on boards and higher levels of representation on leadership teams. Two of the strongest sectors for women on boards, utilities and telecommunications, are also two of the lowest performing sectors for women on leadership teams.
| Telecommunications | 32% |
| Utilities | 32% |
| Financial | 31% |
| Financial | 37% |
| Healthcare | 34% |
| Real Estate | 34% |
The BfBB will be publishing further details on its new five-year strategy and roadmap in 2024. The five strands of the new roadmap are:
- Plan and measure - create a plan, set targets by function and make the leadership team accountable.
- Succession planning - at board and executive levels.
- Talent development and retention - provide supports to help staff develop skills and advance.
- Recruitment strategies - mandate gender-balanced candidate lists for open roles and promotions.
- Strategic leadership - develop non-traditional career pathways for strategic leadership at CEO and Chair levels.
