Bloomberg Law for HR Professionals is a complete, one-stop resource, continuously updated, providing HR professionals with fast answers to a wide range of domestic and international human resources...
By Andrea Barbara Schuessler
Jan. 14—Just over a quarter (28 percent) of mandated German employers have met the 30 percent quota for filling vacant supervisory board positions with women according to the 2016 female management barometer, Elke Holst, senior economist with the German Institute for Economic Research (DIW Berlin), tells Bloomberg BNA.
Effective Jan. 1, 2016, 108 German companies have to meet a mandatory 30-percent women's quota for filling vacant supervisory board positions under legislation Germany's parliament approved in 2015.
Companies both listed on the stock exchange and partially managed by employees are also affected by the new legislation, which introduced a voluntary women's quota for approximately 3,500 companies.
At the end of 2015, the share of female managers on the executive boards of Germany's highest-revenue companies was 6 percent, less than 1 percentage point higher than in 2014. On the supervisory boards of these 200 companies, the share of female positions was 20 percent.
“If the pace continues to be so low, it will still take a long time until equal participation of women and men will be achieved,” Holst said in a Jan. 13 statement.
If the progress of the last 10 years remains the same, it would take 86 years for the 200 companies with the highest revenue to achieve equal participation, Holst added, and for supervisory board positions 25 years.
In financial sector companies, the increase of women in management positions was among the lowest in 2015, according to the DIW survey of the 100 largest banks and 59 insurance companies.
On executive boards in the banking sector, the female share was 8 percent in 2015, 9 percent for insurance companies. The female share on supervisory boards in banks was 21 percent, 19 percent in insurance companies.
“The few career prospects also have an effect on the pay gap between women and men,” Anja Kirsch, co-author of the 2016 female management barometer and a researcher with the Institute for HR Policy at Free University Berlin, said in the Jan. 13 statement.
“The so-called gender pay gap in the financial sector is the largest, compared to all other industries,” Kirsch added.
In addition to the women's quota, the German government should increase the career prospects of women by implementing tax and family policies that encourage women to work, Holst said.
To contact the reporter on this story: Andrea Barbara Schuessler in Berlin at firstname.lastname@example.org
To contact the editor responsible for this story: Rick Vollmar at email@example.com
For more information on German HR law and regulation, see the Germany primer.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)