Unequal partners: Work to do

Despite push to elevate women to senior ranks, major professional services firms yet to reach gender parity

New Zealand’s major professional services firms are still struggling to reach gender parity at the partnership level despite a major push in recent years to bring women through into their senior ranks.

Partners at law and accounting firms are the most senior members of staff and can earn money through either an equity share of the business’ profits or as a salaried partner.

But Herald research ahead of International Women’s Day today has found New Zealand’s top four accounting firms and six largest legal firms still have fewer than half of their partnership ranks filled by women.

The four accounting firms have more partners in total but a lower percentage of women partners than law firms with the lowest — PwC, only having 20 per cent of its partnership ranks made up of women — even after appointing seven new women partners in recent weeks.

PwC chief executive Mark Averill said it was mindful of diversity and it was a challenge that the big four accounting firms were focused on improving. He said it was pleased with its recent partner appointments in which seven out of 12 were women, and pointed to the firm’s broader profile.

“Up to director level we are 50-50. We then get to the director level and that is around 30 per cent, maybe a third. For us a lot of our initiatives, a lot of our focus, is how do we provide opportunities for more females to come through into that director and partner roles, therefore you change the stats, percentages.” Averill said it was trying to build on its senior pipeline by creating a strong culture around an inclusive environment with a particular focus on embracing flexible working.

Deloitte, which has the same number of total partners as PwC, has 24 per cent women in partnership roles and has boosted that from 10 per cent in 2013. Sonia Breeze, Deloitte partner and human capital consulting practice leader, said it had set ambitious goals with regard to gender balance across its global network and locally advancement of women at all levels was a company- wide priority.

“In the last five years alone, we have more than doubled our female partners to 32 and our board representation has increased from 14 per cent to 41 per cent in the same time.” The six major law firms sit between 29 -33 per cent when its comes to their women partners.

MinterEllisonRuddWatts, which has the highest at 33 per cent, has increased its percentage from 27 per cent in 2012.

About 68 per cent of its senior lawyers are women and 40 per cent of its board, including chair Sarah Sinclair.

MinterEllison media and communications manager Virginia Cassidy said it was proud of achievements but knew it had more work to do.

“We have recently reviewed our partner succession and admission processes to create opportunities for our board to set clear guidelines for gender diversity at the partnership level and timing for promotion.”

Buddle Findlay has the lowest percentage at 29 per cent. Lucy Ryan, its people and culture director, said female leadership and supporting women to progress to partnership were ongoing focuses for the firm.

“In the last five years, 70 per cent of the partners who have been promoted have been female. This year, 76 per cent of senior promotions announced were female. In 2019 and 2020, we committed to intensive leadership training for all our partners and we continue to grow our female leadership through a range of career development and one-on-one coaching opportunities.”

Its senior leadership team was 50 per cent women while 63 per cent of senior associates were made up of women.