Lorrie Lykins writes about this very controversial topic for TrendWatcher, The Institute for Corporate Productivity. Lykins writes: “Several nations are saying “enough is enough” when it comes to what they view as a persistent glass ceiling in today’s boardrooms. The average percentage of board directorships held by women is just 9.7% in Europe and 15% in the U.S. (Catalyst, 2008). In recent years some European governments have decided that the wait for gender parity on boards has gone on too long, and they’re using legislation to compel publically traded companies to appoint more women to their boards (Wachter, 2008).
This trend is sparking a debate about the advantages and disadvantages of such laws and, more practically, about whether more countries will follow suit in coming years. Norway is blazing the trail. It passed legislation in 2003 mandating that public companies address gender imbalance on their boards with the requirement that women hold 40% of the board seats by 2008. Companies that failed to comply faced sanctions ranging from fines to closure. At the time, 6% of directors in Norway were women (Wachter, 2008).
The legislation gave companies five years to comply with the quotas and, despite rigorous and vocal opposition at the outset, business has generally complied. Five years later, Norway now boasts unprecedented board representation for women – 44.2% in 2008 (Catalyst, 2008).
But the road has not been smooth.”
