3 days ago
Irish-owned firms trailing ISEQ20 gender balance, B4BB report finds
Business leaders have a vital role to play in further advancing the cause of gender balance at all levels of business in Ireland, say two diversity experts.
Carol Andrews and Bernard Byrne, co-chairs of Balance for Better Business (B4BB), welcome the progress made to date by Ireland, which ranks among Europe's most gender balanced nations. They do, however, believe that more can be done.
B4BB is an independent business-led review group examining gender balance in corporate boards and senior management in Ireland.
The latest report by B4BB, 'Gender Balance in Privately Owned Companies: An International Perspective and Strategies for Success', outlines some of the steps that Irish business leaders can take to ensure the nation doesn't stagnate or go backwards on the gender agenda.
In the EU's 2024 Gender Equality Index, Ireland was ranked ninth, with a score of 73.4 out of 100. Sweden topped the Index with 82 points. Denmark and the Netherlands were the second and third most gender equal countries in 2024.
From 2021 to 2022, however, Ireland's Index saw a modest increase of only 0.4 points, one of the lowest increases among EU countries during that period. Since 2010, Ireland's score has increased by 8.0 points, largely due to significant gains in the areas of power (+30.4 points) and health (+3.9 points), the index found.
Similarly, the latest B4BB report finds that gender balance performance differs between different sectors; for instance, private consumer companies promote far fewer females to board level than private utility companies. A similar marked difference exists between privately-owned companies and larger ISEQ20-listed firms.
In this Q&A interview, Carol Andrews and Bernard Byrne outline how the B4BB report highlights the areas where Irish businesses are scoring well and suggest areas where actions are needed to improve gender balance performance.
With Ireland ranked ninth in the EU's Gender Equality Index, what further actions can Irish business leaders take to further improve on gender balance?
Balanced leadership should be a strategic imperative for every business in Ireland. From influencing the buying decisions of customers to more effectively meeting talent needs, gender balanced businesses are better equipped with the capabilities to drive future growth and competitiveness.
We've already seen what's possible when we unite for change. By bringing together Ireland's CEOs, board members, investors and policymakers, we've transformed female board representation in public companies over the past seven years, soaring from 18% to an impressive 40%. That success wasn't an accident: it sprang from joint commitment, transparent goals and ongoing collaboration.
Would you like to see more Irish-owned private companies voluntarily reporting on their gender balance performance?
At Balance for Better Business, we're ready to bring this winning formula to the heart of Ireland's economy: our privately held companies. These businesses employ over 70% of our workforce and are woven into the fabric of communities across the country.
While private companies have a strong foundation with women holding 28% of senior leadership roles, there's a significant opportunity to elevate their board-level diversity. Currently, women hold 22% of board seats in large Irish-owned private companies, compared to 39% in ISEQ20 firms. It's time to accelerate their journey and unleash their full potential.
To ignite this transformation, B4BB is proud to launch our new report, 'Gender Balance in Privately Owned Companies: An International Perspective and Strategies for Success'. This isn't just a paper; it's a strategic roadmap, packed with clear, actionable recommendations designed to empower privately held companies to make meaningful and sustained progress at both board and leadership levels.
One of the most powerful catalysts for change is transparency. Only 16% of private companies currently report gender balance data voluntarily, yet we know that 'what isn't measured, won't change'. The EU's Corporate Sustainability Reporting Directive (CSRD) offers a perfect, timely opportunity to standardise and publish this vital data, shining a light on progress and igniting further action.
Our research also champions tailored strategies for every sector. Building an inclusive, future-ready, and collaborative organisation isn't a one-size-fits-all endeavour. Each industry faces unique challenges, and the proportion of women on boards can vary significantly — from 17% in consumer staples to 32% in telecoms and utilities.
By embracing sector-specific approaches, businesses can supercharge their progress, investing in their people and harnessing collective strengths to forge the resilience and innovation essential for long-term growth.
Who are some of the leaders in driving better gender balance in Irish business?
Owners and investors hold a pivotal role in driving this change. When gender balance becomes a business priority, it cascades success throughout the entire organisation.
As highlighted by inspiring speakers like Declan Hughes, Secretary-General of the Department of Enterprise, Caroline Spillane, CEO at IoD Ireland, and Andrew Keating, CFO at Musgrave Group, at our recent panel discussion, setting clear targets and embedding accountability are key to unlocking better governance and driving stronger performance.
Success begins with a plan. Every organisation should set clear, measurable gender balance targets by function and level, and be bold in your ambition. Regularly tracking progress isn't just about accountability; it's about building momentum for change. We encourage every organisation to strive for a 40% plus target across both board and leadership teams as part of your multi-year journey.
What is your final word of advice to Irish business leaders?
The time to act is now. The B4BB roadmap is your essential tool to transform intention into impact and accelerate your progress. No matter where you are on your gender balance journey, this roadmap offers practical, actionable guidance. From succession planning to leadership development, it lays out structured steps to help you embed gender balance at both board and senior leadership levels.
It's clear: balanced leadership is no longer just good practice — it's a competitive advantage. Diverse teams don't just attract top talent; they spark groundbreaking innovation and build trust with your customers. Every organisation, regardless of size or industry, has a powerful role to play in shaping Ireland's future.
Don't wait. Empower your business, attract the best talent, and shape a better future for your organisation.
