In 2010 women made up only 12.5% of the members of the corporate boards of FTSE 100 companies and 7.8% of FTSE 250 companies. And of the FTSE 100, only 15.6% of non-executive directors are women, a figure that has remained static over the last five years.
It's that intangible matter of confidence that is often the thing that gets in the way - of a successful meeting, acquisition of a company or perhaps the 'mere' giving of developmental feedback to a colleague or team member.
About 60% of the clients with whom I work (a number are very senior women and/or at board level) at some point have challenges with regards to confidence. By that I mean as an individual, these people have phenomenal talents and often very specific expertise. It is finding the confidence that will enable those talents to flourish or serve to undermine them.
I overheard a young girl at a swimming competition yesterday comment quite purposefully to her mum, that she felt sick right to the bottom of her stomach! The mother replied, 'excellent, that means you're ready, good luck'. Moments later there was a glimmer of a smile and that all important confidence had been unleashed by a few well chosen words. The little girl strode off to the pool and went on to win her event. I pondered if the result may have been different without that well worded boost.
There was a piece on the BBC recently about how young people in this country are just not being competitive compared to their counterparts in other European countries. Why don't we instill competitiveness as a nation and is it this that makes people less confident later on in their careers?
Certainly with the recent Lord Davies report Women on Boards, there is much discussion about why we haven't got the gender balance in the boardroom. If the UK carries on at its current rate we'll have balanced boards in about 70 years time, and that's an optimistic viewpoint! Is this a challenge (partly) around confidence that men deal with in a different way?
More concerning is the fact that there is a compelling business reason for having a balanced board. Recent research demonstrates quite categorically that a company with a balanced board is more likely to outperform its rivals with a 42% higher return in sales, 66% higher return on invested capital and 53% higher return on equity.
So, competitive edge in the UK, confidence, and highly performing businesses with gender balanced boardrooms - is this starting during the school years and interlinked? In the US, kids from primary onwards are expected to make presentations - be it about a favourite toy or baking cupcakes with a friend. It therefore becomes a relatively seamless skill if one has done this since just after one has learnt to toddle and speak. Barack Obama - whether you adore him or deplore him has fabulous speaking and presentation skills, he is erudite, speaks in plain language, uses humour and therefore is 'easy' to listen to, often the subconscious recognition of a good speaker or presenter.
One of my female board-level clients recently commented, 'Inspiration, perspiration and a bit of aplomb and we just might make a difference.' Getting the issue of confidence right is absolutely fundamental to the success of women and men in the board room.
Kate Tojeiro is MD of Xfusion, an executive coaching and leadership development company that works primarily with FTSE 100 and Fortune 100 companies.
