Female representation in business
John Conroy, Interview (edited) with Caroline Allen | Laois Today
On the hot topic of female representation in business, Seán said that in the public policy making areas of business and economics, where political standing and academic excellence play a part, women are actually well represented.
“The current head of the European Central Bank is female, Christine Lagarde and Janet Yellen was chair of the US Federal Reserve Bank before she was appointed Treasury Secretary by Joe Biden.
“These are the two most powerful positions in global banking. Also, the managing director of the International Monetary Fund, is female, Kristalina Georgevia,” he said.
The private sector, Seán acknowledged, is a different matter. “Proportionately few female CEOs are in the top echelons. That is rightly changing as the talent pool develops, one of the most notable appointments being Mary Barra to the role of CEO at General Motors.
“The future looks brighter because a female graduate in Western Europe and the US today has, in the minds of most employers, an equal chance, at least, of climbing the corporate ladder in a large corporation as her male counterpart. Some would say better,” he said.
“The entrepreneur category is for me, the most important, as it’s all about building new businesses and introducing new ideas, products and services.
“At the very top, the mega disruptive entrepreneurs like Steve Jobs and Elon Musk have far more influence in shaping our lives than the professional managers who occupy CEO roles in ‘steady-state’ companies like General Motors, IBM or Tesco at any given time. This is the area where female under-representation is most acute,” he contended.
So how can this be resolved?
“Much has been said about opening up more educational opportunities for women, particularly in science, technology, engineering and maths (STEM.)
“This should absolutely happen but the reality of course is that women have been outperforming men on the education front for years and, even in the non-STEM areas, lag behind in start-ups.
“So, there are clearly other factors at play, some of which touch on broader societal issues such as women having to bear a higher level of ridicule for failure of any kind, perceived or real,” said Seán.
“But we do know that confidence and participation culture are vital ingredients and both come from positive social conditioning.
“This can start in the home, with encouragement around the dinner table and I believe is changing markedly for the better and putting the famously independent-minded Laois woman, in pole position.”