Four days ago we published a piece about Rachel Reeves MP (Labour, Leeds West) being “truly staggered” by the decision of the Bank of England to appoint a man to the Monetary Policy Committee. Maybe she was staggered that the outrageously anti-male recruitment process – explored in our piece – had failed to lead to the appointment of the best woman for the job, rather than the best person for the job. Only one man was on the five-person shortlist.
Our thanks to Jack for this piece about PWC. Over the six years I’ve been campaigning through Campaign for Merit in Business against government and corporate initiatives to increase gender diversity on corporate boards – because greater gender diversity leads to financial decline – I’ve had plenty of time to consider why professional service firms (notably accountancy firms and management consultancies) are such arch-supporters of more gender diversity in the upper echelons of businesses. They know the negative impact, and must themselves be seeing it in impaired efficiency, effectiveness, and therefore reduced profitability. The only explanation I’ve ever found credible is that in persuading clients to adopt the policy of increasing gender diversity at senior levels, the clients are weakened and then have to rely more on external support, i.e. professional service firms.