By Lynn Harris

Earlier this week, we marked International Women’s Day, celebrating the economic, political and social achievements of women around the world.

What has been a snail’s pace record on every level is no less so in Canada, where recent reports show dismal progress for women aspiring to make a mark in the corporate world.

Two new studies from the Catalyst Foundation have indicated that gains remain minimal for women in this country with leadership potential; in every instance they are under-represented despite their qualifications and expertise.

Equality, it seems, is not on the agenda in corporate boardrooms. Findings this week from 2009 Catalyst Census: Financial Post 500 Women Board Directors, showed that women hold 14 per cent of director positions in the FP500, an increase of only one percentage point in two years. The study also showed that nearly 45 per cent of public companies have no female board directors at all.

“In 2010, the argument that companies can’t find women to sit on boards simply doesn’t work,” said Deborah Gillis, Catalyst vice-president, North America. “Catalyst research shows that looking beyond company heads – 21 women currently lead FP500 companies – to the broader corporate officer pool expands by more than 30 times the number of qualified women available for board service.”

This ongoing lack of momentum, despite the studies indicating a strong correlation between women’s representation on boards and better financial performance, might have dire consequences. Gillis believes Canadian companies risk losing qualified women to multinationals now looking for female board members.

But the fractured playing field doesn’t exist only in Canada. Last month, Catalyst reported, as part of a study of thousands of women and men MBAs around the world, that women lag behind men in both job level and salary starting from their first position post-business school – and do not catch up.

The study showed that the common excuses of parenthood and level of aspiration did not explain the results; the findings held when considering women and men without children as well as those who aspired to senior leadership positions.

“The `Give it time,’ reasoning has run its course,” commented Ilene Lang, Catalyst president and CEO. “In a world where women comprise 40 per cent of the global workforce and are earning advanced and professional degrees in record numbers, gender inequity is a waste.”

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