France’s Minister for Women’s Rights Najat Vallaud-Belkacem is setting an exemplary standard for politicians genuinely committed to addressing gender inequality. Despite inheriting the portfolio in the nation that boasts the highest number of female board members in its biggest companies, she is not content with the status quo. Instead she is actively seeking to improve the situations with a combination of initiatives.
Last month Vallaud-Belkacem proposed a new law that will fine companies 1% of their total payroll per month if they fail to meet the standards for gender equality. The draft law also proposes to include a measure offering fathers six months of paternity leave.
In addition to punishing companies that fail to encourage gender equality, companies that perform well are being rewarded. France isn’t the only country to impose quotas for female representation on boards but Bloomberg journalists Jacqueline Simmons and Laura Colby say it may be the first where the government has come up with a ranking .
French companies that have worked the hardest to obtain the highest level of women in leadership positions were awarded prizes by the Ministry of Women’s Rights this week.
“The purpose of these rankings is to shine light on the gap between men and women in the governance of companies, to showcase the companies that have taken the matter to heart and to encourage others to do the same,” Vallaud-Belkacem said in a statement.
“I know how attached companies are to their images. From now on the energy that companies spend fighting inequality between men and women should also be a criterion for a good or bad reputation.”
The rankings of the 120 public companies that form part of the Societe des Bourses Francaises index were based on standards such as the number of women on the company’s executive committee, board composition and whether managers’ compensation was based, in part, on achieving gender equality.
Telecommunications company Orange took out the top spot, with 35 women among its top 100 managers.
The president of the Women’s Forum and founder of French web site Terrafemina, Veronique Morali, told Bloomberg the minister is seeking to enforce legislation around quotas and equal pay aggressively.
“When she was first named minister, she focused on violence and women’s rights, but has enlarged the role,” Morali told Bloomberg. “She’s put herself under the flag of the economy and companies. These rankings are a very powerful medium. They give visibility to actions.”
Perhaps Australia’s minister for women might like to follow suit?