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The local tech sector lags behind industry as a whole when it comes to female representation among executive officers at Massachusetts public companies, according to The Boston Club, an organization looking to promote women in business leadership positions.
Still, some companies, like Akamai Technologies Inc. and Avid Technology Inc., “get it,” according to Lucinda Doran, an independent director and consulting executive at The Boston Club. Three of seven Avid directors and three of 12 Akamai directors are women, while two of seven executive officers at both companies are women. That puts the companies at or above the 20 percent bar for companies who get it, Doran said.
Last year, The Boston Club reported female representation in the executive suite at its lowest level since the group started keeping track in 2003, while boardroom representation remained static. If that keeps up, the boardroom may feel the effects a few years down the line, Doran said, as the dearth of female executives leaves women unprepared for future board positions. “If there are no executives, the feeder is gone,” she said.
The drop in women board members and executives is impossible to pin on one cause, Doran said. In an economic downturn, companies looking to decrease risk may adopt a conservative stance when it comes to deciding who runs the ship. “The ‘known’ in the case of executives is still men,” she said. “It’s very comfortable.”
It’s also possible that gains women had made prior to the recession didn’t signal the shift in corporate thinking some may have thought. “Women still haven’t really, truly gained access to the club.” she said.
Doran is positive it’s not due to a dearth of talent. Research has shown there’s plenty of female talent to go around, she said, and furthermore, companies tend to have richer discussions and perform better when women board members and executives are included.
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