Irish Firms Achieve Milestone in Gender Balance on Company Boards

Irish businesses have achieved notable advancements in gender balance, particularly within the boards of publicly listed companies. According to the eighth annual report from the Balance for Better Business (B4BB) Review Group, companies have not only met but sustained the target of over 40% female representation on their boards. This progress has propelled Ireland to the fifth position in the European Union for women on boards of the largest listed companies, a significant improvement from its previous ranking of sixteenth when the initiative was launched in 2018.

The B4BB report revealed that female representation on boards of privately held companies, which employ the majority of Ireland’s workforce, has reached 26%, an increase of 5% since 2024. Additionally, privately held companies have seen a 31% representation of women in their leadership teams, marking a 3% rise from the previous year. Multinational companies, defined as foreign-owned organizations with over 250 employees, also showed positive trends, with a 2% increase in female representation on senior leadership teams, bringing the total to 32%.

Ongoing Momentum in Gender Representation

The B4BB initiative has demonstrated a 24% increase in female board representation among publicly listed companies since its inception. Companies listed on the ISEQ20 index have achieved a new high of 42% female representation on their boards. This upward trend indicates that firms are well-positioned to exceed the 40% threshold outlined in the EU’s Gender Balance on Corporate Boards Directive.

Carol Andrews and Bernard Byrne, co-chairs of Balance for Better Business, emphasized the importance of balanced leadership as a strategic imperative for businesses. “Companies that commit to gender balance gain a competitive edge: they attract top talent, spark innovation, and boost performance,” they stated in a recent interview. They noted that while progress has been made, the pace of change across the business landscape remains uneven. The co-chairs urged all companies to prioritize gender balance as a strategic goal, advocating for accountability and concrete actions to foster a more inclusive future.

Strategies for Accelerating Change

Businesses looking to enhance their gender balance efforts are encouraged to establish clear, measurable targets and report on progress regularly. The B4BB roadmap serves as a vital tool for organizations aiming to transform intentions into tangible impacts. It offers practical guidance on areas such as succession planning and leadership development, helping firms embed gender balance at both board and senior leadership levels.

Andrews and Byrne highlighted the critical role of leadership in driving this change. “When gender balance becomes a business priority, it cascades success throughout the entire organization,” they explained. They emphasized that leaders must actively champion gender equity, integrating it into their core values and decision-making processes. Transparency is also vital; regularly publishing data on gender equality and reporting on progress towards targets fosters trust and accountability.

The commitment to gender balance is not just a moral imperative but also a strategic advantage for the future competitiveness of the Irish economy. “Balanced leadership is a smart business move,” Andrews and Byrne stated. “More balanced organizations are better equipped to drive future growth and competitiveness.”

Research indicates that sector-specific strategies may be necessary to address unique challenges across industries. The latest B4BB report identifies the information and communication services and construction sectors as having the highest increases in female board leadership over the past year. The report includes case studies showcasing successful strategies that other sectors can adopt to accelerate their own progress.

In conclusion, the eighth annual report from Balance for Better Business underscores the significant strides made by Irish firms in achieving gender balance. With ongoing efforts and commitment from all sectors, the potential for further advancement remains strong, promising a more equitable and competitive future for Irish businesses.