Category: Report

The Glass Chair: Women CFOs prove their impact, despite slower progress to the top

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Leading enterprise finance management platform, OneStream, released the findings from a study of senior finance leaders across Europe and the US. Part of the ongoing Finance 2035 Initiative, the report – entitled The Glass Chair – explores the measurable business value of diversity in finance leadership as well as the routes women take to the CFO role, the barriers they face on the way, and the accelerators that help them advance. 

 

Women in finance deliver measurable growth

 

The Glass Chair reveals that only 22% of CFO roles in the FTSE 100 are currently held by women. However, despite this disproportionate representation, UK companies with women in the top finance position often outperform industry benchmarks and increase the value of their firms. On average, publicly listed companies in the UK led by women CFOs deliver a 2.6% annualised shareholder return, outperforming industry benchmarks by approximately 1.5% per year. 

 

The study found that underperforming UK companies saw an average 13% improvement in total shareholder return after appointing a woman as CFO, compared to the performance under their predecessor. Notably, this uplift was observed even when firms continued to lag behind industry benchmarks overall.

 

Routes to CFO: Broader experience, deeper impact

 

The research reveals that women take longer to reach the CFO seat – averaging 20 years in the FTSE 100 – and change roles and companies more frequently along the way. According to LinkedIn analysis, 39% of women CFOs in the UK have backgrounds that reflect a non-linear career trajectory, including operating or cross-functional roles outside of core finance. 

 

As a result, women often have a broader enterprise-wide perspective, deeper operational acumen and stronger leadership experience. This positions them to balance financial strategy with people development, risk management and cross-business collaboration – all qualities critical to the modern CFO. 

 

Skills that define the future finance leader

 

The study found that women are prioritising the capabilities most critical for tomorrow’s CFO role. Two-thirds of women finance leaders in the UK (65%) say automation, especially AI, is enabling different types of expertise to enter the role, and 70% identify digital literacy as an important skill for the future. 

 

However, a recent pulse survey on Finance Talent by OneStream reveals a powerful opportunity. While 73% of women finance professionals across the UK and the US are eager to build AI skills, they are less confident and less likely to adopt AI tools than their peers. In fact, just 24% of women expect to rely significantly on AI tools.

 

Women finance leaders’ focus on transparency, governance and risk management offers one reason why they’ve taken a more cautious approach to adopt more generic AI toolsets, which lack the context, accuracy, and transparency required for effective financial decisions and performance. Closing this gap in AI transparency and accuracy is one of the fastest ways for women to build confidence and competence in AI adoption across finance and an accelerant to empowering women leaders who already demonstrate competencies in other areas critical to the future CFO role.

 

“Our research shows that companies led by women CFOs often outperform their peers, particularly when these leaders are appointed to underperforming organisations. Their breadth of experience and strategic insight can be game-changing,” said Aisling Harney, Senior Director of International Finance at OneStream Software. “AI and automation have the potential to fuel the next wave of inclusive leadership – but only if we can close the AI confidence gap. Ensuring equal access to upskilling, mentorship and leadership pathways will be essential to help women find their digital edge.”

 

Unlocking the value of inclusive finance leadership

 

While women CFOs bring the diverse skillsets, resilience and enterprise-wide perspective that the modern CFO role demands, many cited several structural barriers that slowed their progression. These include economic downturns disrupting organisational structures, complex workplace politics, limited access to mentorship, challenges balancing work and personal life, and skills gaps within finance teams. In delaying advancement, these barriers also postpone the
business value captured from having women in the CFO role.

 

When reflecting on the factors that have contributed to their career progression, women in senior finance positions identify the following:

 

  • Commitment to continuous professional development (e.g., finance accreditations)
  • Networking opportunities
  • Transparent promotion processes
  • Mentorship and sponsorship
  • Technological advancements

 

The companies that invest in these areas won’t just help close the gender gap; they’ll unlock the strategic edge that diverse finance leadership brings, positioning themselves for long-term success.

 

To access the full findings of the research and download a copy of The Glass Chair report, please visit https://www.onestream.com/resources/the-glass-chair/.

Integrating Care Supports for Employees is Essential for Retention

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A new report launched today by the 30% Club Ireland, supported by Accenture, highlights the economic and workforce benefits of integrating care – childcare, eldercare, and self-care – into corporate policies.

 

The research highlights the significance of ‘Care Economics’ – the business case for integrating caregiving support into workplace strategy. It quantifies the return on investment of flexible, care-supportive policies, demonstrating how enabling employees to balance their caregiving responsibilities leads to measurable financial gains, including higher retention, increased productivity, and reduced absenteeism. By prioritising such policies, businesses can retain experienced talent while reducing hiring and onboarding costs. Those that fail to adapt risk losing talent in the ever-evolving modern workforce.

 

Key findings that support the importance of leveraging Care Economics include:

 

  • Almost three in five (57%) employers report higher productivity from their employees after introducing hybrid work and flexible care policies.
  • Over a third (35%) of companies see direct commercial benefits from supporting caregiving responsibilities.
  • 31% increase in employee retention in organisations that provide eldercare and childcare support.
  • 68% reduction in absenteeism in workplaces with structured care policies.
  • Three in four (75%) employers say technology has improved employees’ ability to balance work and care responsibilities.
  • 71% of employees say work-life balance policies have improved their overall well-being, and those working in organisations with strong policies report 35% lower burnout rates.

 

The research also highlights shifting employee expectations and priorities:

 

  • 40% of employees say their organisation does not support working parents.
  • Over half of employees (52%) believe eldercare is not given the same level of workplace support as childcare.
  • 46% say hybrid work has positively impacted their self-care and work-life balance.
  • Half (50%) of Gen Z employees prioritise work-life balance over salary, making flexibility and well-being key drivers of retention among younger talent.
  • 42% of millennials report that a poor work-life balance is a leading reason for leaving a job.
  • 30% of employees aged 50+ feel excluded from flexible work policies, often because of outdated assumptions about their adaptability to remote or hybrid work.

 

The research, conducted between October 2024 and January 2025 by Reputation Inc, examines the intersection of caregiving responsibilities, work-life balance, and workplace policies. The study combines:

 

  • Quantitative survey data from over 1,300 employees in Ireland working across various industries.
  • Qualitative insights from 150 Irish employers, including SMEs, large indigenous businesses, and multinationals.
  • Focus groups with Gen Z future leaders, exploring shifting workplace expectations.

 

The findings provide evidence-based insights into the business impact of caregiving policies, offering practical recommendations for improving retention, engagement, and workforce productivity.

 

Click here to read the report

Mexican board diversity drive revealed

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30% Club Mexico

30% Club Mexico and Mercer México have teamed up to analyse the boardroom dynamics playing out across the country and reveal what they mean for diversity among directors. 

Read the full report in Spanish here. 

Where we are

The 30% Club has come a long way from when it was set up in the UK in 2010.We now span six continents and more than 20 countries. We’re actively expanding into more G20 countries

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Green shoots of change in Australian boardrooms

Posted on by Aba Wilson-Sam

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In an increasingly complex environment post the global pandemic, boards are facing into new and interconnected landscapes.

There is the suite of digital trends, including AI, robotics and cyber security, more exacting customer expectations enabled by new digital fluencies, workforce transformations underpinned by hybrid ways of working, and the demand for reskilling and greater regulatory scrutiny. 

This new reality prompted the 30%+ Club Australia and Deloitte Australia to investigate whether boards are future fit to manage risks and seize opportunities.

Having interviewed board members, executive search firms and investors, they challenged boards to consider complementing the traditional skillsets of governance, law and finance through the additional appointment of directors with diverse professional expertise in digital, marketing/customer and human capital.

Read the full report to find out more about Australia’s progress toward diversity in business leadership and 30% Club Australia’s work here. 

Where we are

The 30% Club has come a long way from when it was set up in the UK in 2010.We now span six continents and more than 20 countries. We’re actively expanding into more G20 countries


Find out more

French firm must do more to reach 40% female ExCo target

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French companies are on the right path to meet the first step of the Rixain law requiring at least 30% women representation on executive committees, according to the 30% Club France Investor Group.


The 30% Club France Investor Group’s third annual report reveals SBF120 Executive Committees are nearing an average 30% women’s representation, an increase of 2.4% compared to 2022.

Yet, this average percentage reflects very disparate situations as the SBF120 is evenly split between companies with less than and above 30% female representation.

Nearly all the companies have targets and action plans in place, but these targets lack consistency in terms of scope and granularity.

Addressing these disparities is crucial, especially to meet the challenging second target of the Rixain Law (40% by 2030).
 
Read more in the full report here.

Where we are

The 30% Club has come a long way from when it was set up in the UK in 2010.We now span six continents and more than 20 countries. We’re actively expanding into more G20 countries

Find out more

Gender gap widens across OECD to 13.5%

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Pay gap

It will take over 50 years to close the gender pay gap across the OECD! That’s the finding of PwC‘s latest Women in Work report.

The average gender pay gap across the OECD stood at 13.5% in 2022, having widened from 13.2% in 2021.

Luxembourg tops the index with a gap of -0.2%. 

Australia demonstrated the best annual improvement, closing its gap by four percentage points to 9.9% and moving up to 10th place in the index.

The UK reported the largest slide of any OECD country, dropping from 13th place in on the index in 2021 to 17th in 2022 with a gap of 114.5%.

Read the full report here.

Where we are

The 30% Club has come a long way from when it was set up in the UK in 2010.We now span six continents and more than 20 countries. We’re actively expanding into more G20 countries


Find out more

UK FTSE 100 reach 30% women on ExCos

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Inclusion

The UK’s top 100 ranked companies have reached the critical mass of 30% women in executive committees for the first time.  

The FTSE Women Leaders Review has also confirmed women hold 35% of all leadership roles in FTSE 350 companies and 42% of board seats. 

However, despite much welcomed progress for female representation, there remains an absence of women leading the UK’s largest organisations. And almost half of all available appointments now need to go to a woman to meet the Review’s 40% Women in Leadership target by the end of 2025. 

Pavita Cooper, UK Chair of the 30% Club, said: “Organisations need to double down on efforts to accelerate the progression of women through the pipeline. CEOs and Chairs need to drive the focus on closing this gap, failing to do so is simply bad for business.”

Read the full report here. 

Where we are

The 30% Club has come a long way from when it was set up in the UK in 2010.We now span six continents and more than 20 countries. We’re actively expanding into more G20 countries

Find out more

Australia’s top 20 companies hit 40% women on board

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Australia stock

Australia’s top 20 ranked companies made history this quarter (Q2 2023) achieving an aggregate 40 per cent women on their boards.

This success reflects the long-term efforts of chairs, boards, regulators, investors, executive search firms and campaigns like the 30% Club Australia that have ensured continued stakeholder scrutiny of appointments to listed boards.

Of course, the aggregate figures do not tell the whole story. Across the 759 directorships currently held by women in the ASX 300, an overwhelming number are non-executive directors (685) while just 37 are executive or managing directors including CEOs, and only 37 are chairs.

Read the full report to find out more about Australia’s progress toward gender equality in business leadership and 30% Club Australia’s work here. 

Where we are

The 30% Club has come a long way from when it was set up in the UK in 2010.We now span six continents and more than 20 countries. We’re actively expanding into more G20 countries

Find out more

Views: Invisible factors give rise to persistent workplace inequality

Posted on by 30club-Malaysia

Diversity, equity and inclusion efforts would not live up to their promise if we’re blind to the invisible factors that hold people back from fully participating in the economy, workplace and school. 

Yi-Ren Wang , Assistant Professor of Organisational Behaviour at Asia School of Business illustrates this in her op-ed, part of a series of thought leadership pieces, Equity, Equality & Prosperity, in collaboration with The Edge and the 30% Club Malaysia.

Read about it in The Edge ESG section here.

Gender balance almost achieved for ethnic minority directors

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Diverse directors

Across the FTSE 350, the numbers of ethnic minority directors are currently balanced almost equally between men and women, with 48% being women (47% in the FTSE 100, 48% in the FTSE 250). 

The data emerged today from the latest update on the Parker Review – the business-led, UK government backed initiative that sets voluntary race equity targets for Britain PLC. 

The 30% Club is proud to support the Parker Review with our own targets for the FTSE 350 to have at least one ethnic minority director or member of the executive committee by the end of 2023 and for half of those newly created seats to go to women of colour.  

Today’s update also confirmed that 96 of the FTSE 100 had at least one ethnic minority director by the end of December 2022, up from 47% in 2016 and largely meeting the Parker Review’s initial target for Britain’s biggest companies. 

Of course, a single ethnic minority director is just the start of the change we need to see and so it was encouraging to see that half of those FTSE 100 companies actually had more than one ethnic minority director by the end of last year.

But as we have seen in the gender diversity space, there is still so much to be done if true equity is to be achieved.

It remains the case that the vast majority of ethnic minority directors occupy non-executive roles. In the FTSE 100, for example, while the data revealed ethnic minority directors now account for 18% of all directorships, just six ethnic minority directors held a chair position, only seven were CEOs and nine were CFOs.

However, there are many practical things company leaders can do to bring about change from collecting more and better data to taking part in reverse mentoring. 

For example, the 30% Club is helping organisations build on their commitment to race equity with our Leaders for Race Equity programme, run in partnership with the CBI’s Change the Race Ratio and Moving Ahead.

We match CEOs with ethnic minority executives from outside their organisations to learn from each other’s experiences and challenges while also attending working groups with their HR and D&I leads on topics ranging from data to AI to inform and improve corporate action on race equity.

 
We hope this initiative will help our CEO members deliver impactful leadership in race equity throughout their organisations to ensure a wide pipeline of diverse talent progressing and thriving right to the very top.
Parker Review stats
Leaders for Race Equity

The Parker Review has set new targets for December 2027:

  •  
  • – Each FTSE 350 company will be asked to set a percentage target for senior management positions that will be occupied by ethnic minority executives in December 2027
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  • – 50 of the UK’s largest private companies have been set the target of having at least one ethnic minority director on the main board by December 2027. 
  •  
  • – Each company will also be asked to set a target for the percentage of ethnic minority executives within its senior management team 

 

You can read more about the targets and access the rest of the Parker Review data by clicking the box below. 

 

Read THE REPORT

Where we are

The 30% Club has come a long way from when it was set up in the UK in 2010.We now span six continents and more than 20 countries. We’re actively expanding into more G20 countries

Find out more
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