Analysis of Board Vacancies

Women on Boards is always keen to review the effectiveness of its program. We do this formally via the Women on Boards Survey (next due in early 2008). The 2006 Survey showed that WOBers are getting onto boards advertised by WOB and that there is a demand for more paid vacancies. In 2007,  the numbers of general and paid vacancies has increased as this article demonstrates.

Vacancies posted

From 1 July to 31 October 2007 there were 58 board vacancies posted on the website.  In comparison, there were 66 vacancies posted in the 12 months of 06/07 and 40 in 05/06 when the feature was launched.

In the four months of this year, 14 of the vacancies were paid, representing 27 per cent of the total. If you add private searches to the numbers, this increases the percent of paid vacancies to 29 per cent, which compares favorably with the 2006 figure of 18 - 20 per cent.

There has been a large number of vacancies posted for South Australian Government boards and Victorian Arts Boards. Two credit unions were advertised and WOB candidate narrowly lost the election against two incumbent directors in one case.

We recently surveyed the organisations who posted the positions to see if WOBers were applying and then getting selected. A number of very complimentary emails were received - the bottom line is WOBers are applying and getting vacancies. Pleaase keep your success stories coming in.

Board vacancies can take six months plus to fill so please be patient.

Search assignments

Despite our efforts ASX director vacancies are rarely advertised, with companies prefering a search process. We have had one only advertised ASX listing to date. WOB will continue to encourage advertising as we believe it brings forward candidates that would otherwise remain hidden.

We are asked to conduct searches of our database to find women to fill vacancies that are not posted. To date we have not notified WOBers when their name has been put forward following such a private search. This will change in 2008. You will receive notification that you have been selected as an appropriate candidate and, if you are not already a subscriber, invited to become one.

Examples of searches done in 2007

1: WOB interacting directly with company

Initial contact:  September 2007

Requirement: Business services/ professional services background OR Legal (commercial law) OR IT outsourcing . Director needs to be a potential audit committee chair but not necessarily an accountant.

Current status: Company impressed by quality of the six applicants put forward. CEO is talking to three of them.

2.  WOB interacting with search firm

Initial contact: October 2007

Requirement: Female Chair for a listed Australian company. The search consultant said “It’s a tricky one – here’s what we need”:

" Must have listed company experience, does not have to have been a Chair ; AND corporate or board experience in industrial manufacturing AND affinity with technology and science AND exposure to high-growth companies highly desirable. "

Current status: One of the five women put forward was referred to the client. No further feedback as yet.


Conversation with Jane Bridge of Boardroom Partners

WOB keeps in touch with the search consultant community on a regular basis. We chatted to Jane Bridge in early November. to get a feel for the supply and demand of directors. Jane's view is that there is still a great deal of interest in becoming a director, with the numbers of aspirants exceeding available vacancies. This was the case when we spoke to her in 2006.

Boardroom Partners has recently released their latest research. Titled,   "The Changing Profile," it looks at the increasing number of women directors amongst directors who are less than 50 years old.

Of particular interest to WOB was the section of the report which detailed the following ways of finding an opportunity for directorship:

  • Being a CEO makes you an attractive proposition
  • Prior connection with the company is a critical factor. Hence the numbers of investment bankers on boards.
  • The consulting relationship matters; and
  • Being on boards generates opportunites to be on other boards.

The full article is on the Boardroom Partners website at http://www.boardroompartners.com.au/news.htm