A new report by The Pipeline has indicated the need for the appointment of more women in profit and loss (P&L) roles in order to eliminate hindrance to gender diversity in the UK’s pharmaceutical industry.
Titled Women Count 2018, the report tracked and examined the number of women on Executive Committees of FTSE 350 companies over the past three years.
Statistics revealed a lack of progress on gender diversity in senior roles in the FTSE 350 companies, with the ratio of women on Executive Committees being stagnant at 16%.
The survey found that men hold 95% of all P&L roles on Executive Committees, while majority of women have functional profiles, including human resources (HR), marketing, legal and compliance.
The percentage of women in P&L roles has decreased since last year and now stands at 5%, while the proportion of women on executive boards has remained at 8% in the same time period.
It was observed that the Pharma sector has a higher representation of women on Executive Committees than FTSE 350 average at 25%. The numbers are also said to have increased slightly compared with last year.
The proportion of women in P&L roles in the Pharma sector was slightly higher at 8% than the 5% average.
Based on these results, the company urged the Pharma industry to take better measures to improve the statistics and reach the government’s target of 33% women on FTSE 100 executive committees by 2020.
The Pipeline co-founder Lorna Fitzsimons said: “This is an alarm bell for everyone who supports the Hampton-Alexander recommendation to government to achieve 33% representation of women on FTSE 100 executive committees and their direct reports by 2020.
“Government and business leaders must sit up and take notice. If we carry on as we have been doing – we will miss these targets. This doesn’t just fail women but it fails us all and our economy too.”