Stable economic growth, enormous export strength, a high level of employment and social stability – Germany is Europe's economic powerhouse. But German companies are struggling to attract skilled workers and managers. One of the reasons for this is the lack of women in top positions.
Even though studies have now shown that companies with a high share of women in top positions achieve better economic results, the potential of well-educated women often remains unfulfilled. What has to be done to get more skilled women into top positions? What has to change in our working environment? Do today's decision makers in companies lack the courage or the imagination to let women lead? Do companies need to get more active to attract more female top talent?
In February 2011, the Savings Banks Finance Group launched an initiative to promote women in executive positions, introducing the nationwide S-Mentoring programme as an element of this initiative. Even though studies have shown that companies with a high share of women in top positions achieve better results, the potential of well-educated women often remains unfulfilled. Only around ten per cent of the 200 largest German companies have a female management board member. The share of female members of Savings Bank management boards is five per cent: this number will definitively improve, through targeted promotion and qualification measures.
To be eligible for appointment as a management board member, an individual needs to demonstrate management experience as well as professional skills. It is often impossible to acquire all this within one’s ‘home’ Savings Bank. Consequently, this requires cross-institution networks. Within the framework of the mentoring programme launched by the Savings Banks Finance Group, mentors and mentees meet regularly for up to two years. And the first female participant has made it: Sandra Peetz-Rauch has been a member of the management board of Sparkasse Aschaffenburg-Alzenau since 1 March 2014.
Two female Management Board members: Sandra Peetz-Rauch and Silke Korthals.