Gender Diversity Still Lagging
New Research Highlights C-Suite & Boardroom Gender Gap in New Jersey Corporate Sector
New York, NY (March 01, 2017) – Epsen Fuller Group, a Top-20 executive search and leadership consulting firm, today announced the release of a new research revealing the severity of the Gender Gap in the Boardrooms and C-Suites across the State of New Jersey. The study is a detailed analysis of 159 New Jersey public companies, representing a broad cross-section of industries and company size, as defined by market capitalization, showing that that there is still a persistent gap in male and female representation on Boards and in C-Suites in the corporate sector.
- Large-cap companies have 25% female board representation, still short of the 30% benchmark. It falls off dramatically in mid-cap and small cap companies at 15% and 13% respectively, and below 10% for micro and nano-cap companies.
- Among industry sectors, technology, life sciences, finance, and capital goods fair the worst in board representation …highly indicative of the historic deficiencies in STEM education for young women and girls.
- In the C-suite, the consumer sector surprisingly ranks woefully low with only 7% in women executives in spite of the fact that women drive 70-80% of all consumer purchasing.
- Gender diversity in the C-suite for New Jersey companies is problematic across all company sizes as well. The average percent of women executives falls to a low 16% representation for large cap and 10% for small and mid-cap companies, with little improvement at the micro (9%) and nano-cap (8%) levels.
These findings are corroborated by similar research by 2020 Women on Boards and the National Association of Corporate Directors (NACD).
Anita Allen, an active member of the Healthcare Businesswomen’s Association (HBA), Executive Women of New Jersey (EWNJ), and the Women’s President Organization (WPO), as well as Director and Treasurer of NACD New Jersey Chapter comments, “This research is so spot on and highly indicative of what we are seeing across the country. We need to do better as leaders to broaden opportunities for women to rise to the top. Our markets depend on us to provide the diversity which has been shown to have a positive impact on performance.”
Thomas Fuller, Epsen Fuller Managing Partner and Independent Director of NACD NJ, notes, “The numbers paint a harsh but clear picture of what is happening in Boards and C-suites today. We are still not close to achieving the ‘benchmark’ 30% representation for women on boards, nor in the C-suite. The issues become most glaring among smaller size companies that may feel it more difficult to attract the best and brightest while also paying attention to diversity. But I believe we can, as evidenced by our firm’s track-record of 40% diversity placement rate over a 10+ year period. Shining a light is a critical step in the process, and a big part of what drove us to delve into this data.” He continues, “Quite frankly, the real work of narrowing that gender gap begins with a decision at the top. No longer can the excuse be a lack of qualified candidates.”
The research is the first in a series of similar forthcoming reports for Epsen Fuller. Additional research is in the works with a national scope that focuses on industry sectors with particular needs such as Life Sciences and Healthcare, Tech-Digital-Media, and Consumer Lifestyle.
The visual report Gender Diversity Still Lagging: Boardroom & C-Suite Diversity by Market Cap and Industry – New Jersey is a free downloadable resource.
For more information contact TFuller@EpsenFuller.com or 212.619.0089 ext. 301.
About Epsen Fuller Group
Epsen Fuller Group, epsenfuller.com, is a Top-20 executive search and leadership consulting firm headquartered in New York, and with offices in New Jersey and San Francisco as well as in major markets and business centers throughout the world, providing instant access to a world-class executive talent pool driving the global economy.
For nearly 20 years, clients have trusted Epsen Fuller Group to deliver top leadership talent around the world. Using a proven, data-driven Performance Based AssessmentSM process, Epsen Fuller delivers a dynamic experience, outstanding service, and exceptional value in Executive & Board Search as well as Leadership & Executive Coaching, Board Governance, and Private Equity Advisory services.