There was everything you’d expect at a Women’s Institute meeting: tea, cakes, sandwiches - even some supportive men – gathered in Harrietsham village hall last Saturday. But there’s so much more to the WI than Jam and Jerusalem. It was founded in 1915 to encourage women to produce food – yes, including jam - for the war effort. Now the work of the WI includes raising considerable sums for charity and campaigning on women’s rights and opportunities. With 220,000 members, it’s the largest voluntary organisation in the UK with branches in towns and villages across the country.
I was particularly pleased to visit last week because this is a significant time for women. Last Thursday was International Women’s Day, and 2018 is the centenary of women getting the vote. Political representation of women has come a long way in the last 100 years. From the first woman MP, Nancy Astor, taking her seat in 1919, to Margaret Thatcher becoming Prime Minister in 1979, to today where we have a more diverse Parliament than ever, with 208 female MPs. We also have our second female Prime Minister, which shows there are no limits to a woman’s ambition.
But while women can and do go all the way to the top, there are still barriers to overcome and some way to go to achieve equality. There’s still a significant national pay gap – with women earning on average 18% less than men; only a quarter of directors in the FTSE 350 are women; and only 4% of FTSE 350 chief executives are women. That’s not good enough, and it’s bad economics, too. We know that organisations with more diverse leadership teams are 15% more likely to outperform their industry rivals. One study found that bridging the pay gap could increase the UK’s GDP by £150 billion by 2025.
All companies with more than 250 employees must now publish their pay gaps. We’re already seeing how transparency at organisations like the BBC is making unequal employment practices less acceptable. There’s still more to do, but I’m proud of the progress we’ve made on women’s rights in the last 100 years, and thankful to organisations like the WI for everything they do to support women.