Today’s gap between the demand and supply of female directors exists for two basic reasons: boards are overlooking a pool of female talent that is in plain sight, and CEOs are missing the single best way to prepare women to serve on boards.
Boards Are Overlooking Qualified Women. Here’s How to Fix That
Today’s gap between the demand and supply of female directors exists for two basic reasons: boards are overlooking a pool of female talent that is in plain sight, and CEOs are missing the single best way to prepare women to serve on boards. While 58 of the Fortune 100 CHROs are female, only 5 currently serve on a public company board. This is a missed opportunity. Boards should mine HR for this new breed of leader, many of whom are female. And while there are fewer female CFOs — just 15 of the Fortune 100, 8 of whom are on a board — this too is a source to explore. To address the gap, CEOs can help develop this key talent pool — while improving the quality and speed of strategic decisions. One of the best practices we’ve seen is the creation of what we call a G3 (group of three): a tight-knit three-way partnership with the CEO, CHRO and CFO.