JSE-listed companies slow in hiring women

A study conducted by an auditing firm has revealed that there has been minimal progress in balancing gender representation in Johannesburg Stock Exchange (JSE) listed companies since last year.

The 2022 Executive Directors Report released by PricewaterhouseCoopers (Pwc) SA on Tuesday also revealed that the gender pay gap could be dealt with by dealing with gender representation within senior positions.

Leila Ebrahimi, PwCSA’s people and organisation reward co-lead, said the world was normalising to a point where it was no longer appropriate to look for reasons about the persistence of inequality even if there were setbacks posed by Covid-19 to the equality agenda.

To look at whether female representation was being appropriately addressed, PwC SA analysed new appointments into vacant executive roles in JSE-listed companies in the last year to assess the ratio of female to male appointments.

READ: Money is statistically different for women

As of June, it was found that

– Only seven of the JSE Top 100 companies were led by female chief executive officers (CEOs) compared to 5% across all listed companies in 2021, with the representation of female chief financial officers (CFOs) sitting at 19% compared to 17% last year.

– Over the entire executive population of all JSE-listed companies, 15% were females compared to 13% last year.

SKEWED APPOINTMENTS

Considering the continued lack of female representation, PwCSA aimed to better understand what was happening in terms of appointments into vacant roles, where there was clear opportunity for immediate improvement.

It was found that between January 2020 and June.

– There were 208 new appointments into executive positions across the JSE. Of these, only 53 (25%) were females;

– In the JSE Top 100, there were 77 new appointments into executive positions of these 21 (26%) were females; and,

– In the JSE Top 40, there were 33 new executive appointments. Of these 10 (30%) were females.

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