In a report, due to be released on 29th October, it is expected that the group will call for firms to employ women into 25% of their top earning roles.
Denise Wilson, chief executive of the Davies Review has said, “We have been asked to look at what the next phase should look like for women on boards…one of the areas we will explore is having a target for the highest earning executives in the FTSE 100.”
Wilson stated that establishing such targets is a, “great way of addressing not only female representation at executive level but also the gender pay gap. As soon as they start to pull those stats together of those top 50 earners they will see that probably not many of them are women.”
The announcement comes after the Davies Review’s previous target to get a quarter of women in FTSE 100 boardrooms was achieved; and as David Cameron announced that companies with over 250 employees would have to reveal the salary difference between men and women.
The prime minister promised to “end the gender pay gap in a generation” and “cast sunlight on the discrepancies and create the pressure we need for change, driving women’s wages up.”
The Davies Review, a government-back commission, was first introduced to examine the underrepresentation of women on boards. It was initially established on the back of the Minister of State for Trade, Investment and Small Business, Lord Davies’ Women on Boards’ report. Its aim is to push the issue of gender equality forward and promote the cause amongst UK companies.