Women in Power and Utilities Index 2016

The evidence is clear - greater gender diversity on the board delivers business benefits that P&U needs more than ever as it faces disruptive and transformative changes.

But soon-to-be-published EY research shows that few utilities are putting in place structured programs to support women in leadership.

Nor are they measuring and reporting on gender diversity. These have to happen to create any meaningful change.

Without facts and disclosure, people are left with anecdotal evidence and personal perceptions (or misconceptions).

In the 2016 Index, there were 345 female board members in a total of 2,149 people, or 16%. To reach 40%, assuming the same number of total board members, 515 more women would need to be appointed to board positions. We’ve made a gain of 38 this year - but how long will it take to get to 515?

And for every 5% increase in women board executives, another 24 women would need to be appointed board executives. We are no further ahead than last year. Again, how long will it take to reach even 10%?

The good news is there are things that all leaders can do today.

Three steps executives can take immediately are:

1. Sponsor future female leaders and encourage other senior leaders - male and female - to do the same.

2. Make your culture more inclusive.

3. Look at your entire talent pipeline.

Longer term, there are more considered strategies, measures and policies that executives can implement to improve gender parity.

Every business leader can make a choice to optimize his or her full workforce by making gender parity a reality - faster.

At EY, we are on our own journey with more work to do. Why wait to adopt a business opportunity with this much potential?