BHP Billiton aims for women to make up 50% of workforce by 2025

Anglo-Australian miner BHP Billiton has set a new target for women to make up half of its workforce over the next nine years in a move to improve performance, the Financial Times reported.

The company believes raising the ratio of women to men among its 65,000 workers was “the right thing to do” and would improve performance.

Chief executive Andrew Mackenzie said the gender target “makes us more accountable; it underpins the depth of our commitment and it lets the world know we are serious.”

Currently 17% of BHP’s staff are women with three at board level.

BHP said it was bringing more women into its workforce at junior level with 49% of graduate trainees being female. The new policy however suggests that the company would have to follow the 50% quota at board and executive level as well.

Under the initiative, executives will have to show they have contributed to a 3% increase in female representation year by year as part of their performance indicators and bonus structure.

A survey conducted last year of 500 mining companies found that women made up less than 8% of boardroom appointments and less than 12% of executives.

According to a report from Women in Mining (UK), “it will take until 2035 for women in executive management in the top 100 listed mining companies to reach … 30%”.

Mining is not the only sector that is stepping up its efforts to recruit and retain more women with 60 UK financial services companies pledging to have at least 30% of senior roles filled by women by 2012 last month.

Mackenzie also acknowledged some hesitation from male employees in a letter to staff ahead of the shareholder meeting.

“I’ve heard the concerns: some employees think inclusion and diversity is not an area where we can make significant progress; some think women don’t want to work in the mining industry, and some male employees have concerns they may be discriminated against, or that they may be overlooked for a promotion. We will not disadvantage anyone. Instead we will give everyone — men and women — an equal opportunity,” said Mackenzie.

The company plans to announce the policy at its annual shareholder meeting on Thursday.

The share price rose 0.49% to 1,217.89p at the close.