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Only 17% of corporate equity plans achieve results

McKinsey estimates that Spanish GDP would rise eight points in 2025 if the female presence in the companies was equal to the European level

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Only 17% of corporate equity plans achieve results

Women are a source of critical talent and ir presence in direction of companies does not reach weight that should. Not in world, neir in Europe nor in Spain. With se words from Duarte Braga, director of McKinsey Company for Iberian Peninsula, began presentation of report Women matter: A way forward for Spain, first in series that strategic consultant makes specifically for Spain, where he has Consulted 47 of largest companies in country, half of m in Ibex 35.

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Their conclusions are clear: women have low representation. While in Spain only account for 19% of boards of directors and 11% in executive boards, in EU se percentages rise to 28% and 15% respectively. If ir presence in companies is located at se European levels, Spanish GDP would earn eight percentage points in 2025, estimates McKinsey. The consultant also ensures that, at current rate, it will take about 15 years to achieve se ratios.

To achieve this, a strong conviction is needed from business leaders on importance of gender diversity, according to María del Mar Martínez, senior partner of consultant and author of report. This is case for economic reasons: because it is not profitable to dispense with half of talent, because women mostly take consumer decisions and because y improve financial and organisational results of companies. However, only 26% of Spanish CEOs have gender diversity among ir 10 strategic priorities.

Since adoption in 2007 of Equality Act, companies of more than 250 employees have launched mandatory equality plans. 75% of 47 companies consulted to develop women's matter report has more than 20 initiatives in ir programmes, which puts m at European levels, but y are sinning in implementation of se measures to support gender diversity. In fact, although more than 60% of companies are investing, "only 17% make progress," says Maria del Mar Martínez. "And this frustrates," he adds.

Failure to follow up

The lack of progress is due, above all, to existence of equality or diversity plans, but measures of support for women that y collect have not been arbitrated. "There is much to say I have plan done, but re is no subsequent implementation," criticizes partner of McKinsey. In his opinion, what is not measured is not done and re is a clear lack of follow-up to se programmes.

For this situation to change, recommends Martinez, it takes commitment of Management with equality and act on main points of leakage of pipeline, which are different depending on each sector. In Automotion, energy, construction and engineering, problems are in women's access to se activities; While in health, consumption, commerce or logistics are in development or progress in female professional career. In finance, technology, telecommunications and media, problems lie in incorporation into management positions. "Every company needs to focus where problem is. Take steps to resolve it, "advises directive.

McKinsey Company believes that it is necessary to improve lifestyle of men and women executives in Spain (where labour presence prevails and 75% of executives expects absolute availability of ir workers) and to promote collaborative movements Between companies (advocacy) that will enable women's progress in enterprise and economy to be much greater and faster than it has been until now.

"Many leaks in pipeline"

While 58% of Spanish university graduates are women, that is to say, largest quarry of talent is female; They represent only 37% of new hires of largest companies in country, which is "alarming," according to Mckinsey. In addition, women workers are also less likely to rise in organizations. "There's a lot of leaks in pipeline," Martínez emphasizes.

In initial stages, y have 1.4 times less promotion options. And to climb to post of CEO, ir odds are four times lower, especially since women are promoted in support areas and not so much to management of income statement.

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