The National Women's Council said a 40% legislative quota for female representation on corporate boards must be introduced as a report found that none of 13 new executive directors appointed between 2019 and 2020 were women.
A new report from the National Women's Council reveals that women remain significantly underrepresented in senior leadership roles and in boardrooms of Irish companies.
The report also found that women are facing a very slow pace of change, while it also found evidence of stagnation and regression.
Women accounted for only 22.4% of board members of Irish listed companies in September 2020, the report reveals, while 19% of Irish listed companies had no female directors at all.
It also shows that only 27% of all new board appointments in 2020 were female, down from 50% between March to September 2019.
None of the 13 new executive directors appointed between March 2019 and September 2020 were women, the report also noted.
Orla O'Connor, Director of the National Women's Council, said the report clearly indicates that all-male boards and executive director appointments continue to be stubbornly resistant to change.
"Despite often better educational outcomes, women continue to be overlooked and undervalued by an outdated and rigid set of policies and practices," Orla O'Connor said.
"The lack of women in leadership positions means women are excluded from the rooms of power, where key decisions affecting their lives are made. This has serious consequences for their lives and entrenches gender inequalities," Ms O'Connor said.
She said the lack of women in leadership positions means women are excluded from the rooms of power, where key decisions affecting their lives are made. This has serious consequences for their lives and entrenches gender inequalities.
These inequalities have been further amplified in recent months by the Covid-10 pandemic, she added.
"Amid increased caring responsibilities, evidence suggests that many women have had to either leave the labour market, or are downshifting their careers. As a result, companies risk losing women in leadership - and future women leaders - and unwinding years of painstaking progress towards gender equality," Ms O'Connor said.
Emma De Souza, National Women's Council Leadership Co-ordinator, said it is obvious that a voluntary target-led approach has not produced the results necessary to justify the continuation of soft measures.
"By contrast, there is robust international evidence that legislative quotas work well – the global spread of corporate quotas for women over the past 30 years is both remarkable and consequential," Emma De Souza said.
"After adoption in countries including France, Germany, Italy and the Netherlands, quotas have influenced the number of women on boards, the performance and outcomes of decision-making bodies, and broader public attitudes," she said.
"Quotas redistribute power at the top of the labour market, which results in significant trickle-down benefits, both in terms of improving financial performance but also for women at all levels in a company", she added.
The National Women’s Council is urging the Government to establish a 40% legislative quota for gender balance on non-state boards.
It said this should feature a three-year implementation period, with a required benchmark of 50% mandatory improvement each year.
If these goals are met, gender balance of 40% will have been exceeded by year four after enactment, it added.
