Female representation at the corporate top
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Female representation at the corporate top (IVOR nr. 126) 2022/5.4.1.1:5.4.1.1 Prof.ServicesCo
Female representation at the corporate top (IVOR nr. 126) 2022/5.4.1.1
5.4.1.1 Prof.ServicesCo
Documentgegevens:
dr. mr. R.A. van ’t Foort-Diepeveen, datum 13-05-2022
- Datum
13-05-2022
- Auteur
dr. mr. R.A. van ’t Foort-Diepeveen
- JCDI
JCDI:ADS659234:1
- Vakgebied(en)
Ondernemingsrecht (V)
Ondernemingsrecht / Corporate governance
Toon alle voetnoten
Voetnoten
Voetnoten
Based on Dutch law, paternity leave is usually granted for six weeks, the first week of which is paid in full and the weeks thereafter at 70 percent of the salary.
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Prof.ServicesCo is a professional service firm that provides services in the fields of audit, consultancy and advisory. The company is part of a larger group operating in multiple countries all over the world. The Dutch branch of the company is not listed on a stock exchange. The management board of Prof.ServicesCo consists of three people, one of which is a woman (33 percent) who was appointed around the time of the interviews. The supervisory board consists of three men and two women (40 percent). In the second quarter of 2021, the number of female employees in the organization averaged 40 percent. In the lower levels of the organization this percentage is 43-44 percent. The percentage of women decreases the higher up you go in the organization, with 31 percent female senior managers, 20 percent female directors, and 17 percent female partners.
Prof.ServicesCo has implemented 19 interventions. The interventions aimed specifically at increasing gender equality for women are the following. The company has set numerical targets for the total female headcount in the organization, and separately for specific organizational levels (e.g., partners, managers etc.), excepting boardroom level. For instance, a target of 46 percent has been set for the total number of women in the organization, which target needs to be met in 2023. In addition, specific percentage targets are set for each separate business unit. The targets vary depending on the current percentage of women in a unit and the feasibility of the target. The business unit targets must be met by 2021, 2023 and 2025 (for each deadline a different target). Furthermore, targets of 50 percent were set for recruitment and promotion of women at each level of the organization. These targets must be met in 2023 and 2025. Interventions aimed at eliminating biases are, for instance, an unconscious bias training for recruitment and hiring managers, having an external evaluator in the room to evaluate hiring decision processes and the company’s recent decision to abolish nominating committees. It was also mentioned that in some instances a specific preference for women is expressed, for instance for positions where the percentage of women is below the target, e.g., at partner level. Such preferences are often the result of setting numerical targets.
Prof.ServicesCo implemented various interventions that aim to support (wo)men in the organization and outside of the workplace. Prof.ServicesCo has a women’s network and a mentoring program that target women, but which are also open to men. The women’s network was initiated by employees. One of Prof.ServicesCo’s family supportive interventions is the proud parent initiative. This program was initially designed to support mothers returning to work from maternity leave, but this program is now also open to fathers. During a newborn’s first year, parents are eligible for eight hours support. The forms of support they can choose from include one-on-one coaching regarding work-family balance, personal training to get back in shape, or nutritional advice. Another initiative Prof.ServicesCo is currently implementing aims to provide 10 weeks paid paternity leave.1 Prof.ServicesCo has a leadership development program in place for senior management levels and higher, and it also has a female leadership development program. Another intervention is a program designed specifically for women who have been on a career break for at least a year and want to re-enter the workforce. This program is designed for women who had a career elsewhere in the professional services industry and are looking for job opportunities at Prof.ServicesCo.
Interventions that are broader in scope include: (1) an employee engagement survey to assess what employees think of female representation and inclusion; (2) conducting exit interviews; and (3) a strategic workforce succession planning program that Prof.ServicesCo is currently developing. Other general interventions include sabbatical leave and time-out options. During a sabbatical, 20 percent of the salary is paid. The time-out facility enables employees to take one month unpaid leave every fiscal year while retaining full secondary employment conditions. These interventions are for women and men but were mentioned by interviewees as facilities aimed at enabling women to create a better work-family balance.
Interventions aimed at achieving a (gender) inclusive workplace are, for instance, inclusive leadership training and assessment. All partners, directors and managers are given inclusive leadership training. This is followed by an inclusive leadership assessment in which they must assess the inclusivity of their leadership style and get 360 degrees feedback. The third step is a one-on-one inclusive leadership coaching session. Another initiative is the use of gender-neutral job vacancy texts and imagery. An intervention to raise awareness for the topic is the organization of a diversity and inclusion week.