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The 'Terrible Truth' About Women On Corporate Boards

It’s no secret that the number of women on corporate boards in the U.S. has not increased greatly over the last decade—especially in large organizations. In the Fortune 500, women hold only 15.7% of board seats. It’s no secret that in the U.S., more women than men now graduate from college. It’s no secret that women constitute the largest consumer base in many organizations.

It’s also no secret that:

not all professional women are married, have children or view the  work/life issue as the main reason why there are so few women on boards. women today tend to want careers, not just jobs. women tend to ask different kinds of questions than do men. women tend to be more inclusive and collaborative than men. women tend to be more comfortable with ambiguity than men, are more holistic in their thinking and tend to be more process oriented than men.

This does not mean women are better than men, or would be better corporate board directors than men; rather it means they are different—and tend to bring what can be termed “added value” to a corporate board. This is because they ask different questions, are concerned about process, and tend to complement the attributes of their male colleagues.

It has long been assumed that “to be a leader is to be a male.” Meaning when looking for corporate board members, male rather than female attributes have been sought. In addition, people tend to be more comfortable with people like themselves. As a result, men tend to appoint male rather than female board members.

Refer to this article where I asked a number of male CEOs of large firms why they have no women on their boards. Their response most often was “I’d like a woman on my board, but I can’t find one.” When I asked the follow-up question, “What kind of women are you looking for?” I was given a list of qualities that many of their male board members didn’t possess. There is no shortage of talented women ready, willing and able to fill board seats.

In a May 31, 2011 article for AGENDA, a Financial Times service read by corporate directors, Amanda Gerut states that, “The percentage of board seats held by women in the Fortune 100 increased a mere 1% between 2004 and 2010, with women gaining 16 seats. White men on the other hand, gained 32 seats. This puts the balance of board seats today at 72% white men and 17% women of any color.”

In another May 31, 2011 AGENDA article , Amanda Gerut states that according to Catalyst , a nonprofit research and advocacy group for women in business, women hold 2.6%of board chairmanships and 8.8% of lead directorships at companies in the Fortune 500, compared with 15.7% of board seats overall.