Women to benefit from mentoring | Rotorua News | Local News in Rotorua

A new mentoring programme has been launched to increase the number of women serving on NZX-listed and large company boards in New Zealand

The Institute of Directors' Mentoring for Diversity programme will run throughout 2012, matching 30 chairmen and senior directors with 30 women to give them the skills and confidence to achieve board positions.

Institute president Denham Shale said research showed diversity brought a new dynamic to the boardroom, with different skill sets and perspectives, ultimately leading to better governance and better company performance. "It is also gratifying to see senior directors and chairmen devoting time and commitment to addressing the gender imbalance at the top tables. Change will begin at the top and our mentors have seized the opportunity to 'put something back' into the profession."

The Ministry of Women's Affairs has applauded the new programme, with Minister Hekia Parata saying it would help women who had the skills, but were not sure how to get into governance roles. "A report this year from Investment Bank, Goldman Sachs, says New Zealand could boost its GDP by a further 10 per cent by increasing women's participation in the economy.

"It is something Government can play its part in, but businesses must take the lead."

According to the Human Rights Commission, women hold only 9.32 per cent of directorships in New Zealand's listed companies and equal employment opportunities (EEO) commissioner Judy McGregor, formerly of Rotorua, said the institute programme would add to initiatives preparing women for governance positions, including EEO Trust's cross-mentoring programme, Global Women's initiatives, the Agri-Women's Development Trust's Accelerator programme and the New Zealand Women in Leadership programme in universities.

The Human Rights Commission monitors women's progress in the boardroom in its two-yearly New Zealand Census of Women's Participation and McGregor said her office had been urging the Institute of Directors since 2006 to take a much stronger leadership role in promoting skilled and experienced women as directors.

"The Commission is delighted the IOD has risen to the challenge. It is wonderful to see another new initiative aimed at improving the tiny number of women in corporate governance, which, at less than 10 per cent, currently lags behind other similar countries, including Australia."

But she also suggested there was more the institute could do to address the gender imbalance:

1. Demonstrate diversity in its own organisation - of the 59 distinguished fellows, only three are women - about 5 per cent.

2. Promoting the pool of skilled and experienced women seeking directorships to the 57 companies in the NZX top 100 that do not have any women on their boards.

3. Urging members to support the NZX's biannual review next June, proposing new rules requiring all publicly-listed companies to declare how many women and minorities they have in senior roles and as directors.

4. Be more visible promoting the business benefits and equality imperatives of women's representation.