Approximately one-third of women have achieved significant accomplishments within the past century.

Approximately one-third of women have achieved significant accomplishments within the past century.

News Article: The Ongoing Struggle for Gender Equality in Germany's Savings Banks

The issue of gender equality in Germany's savings banks, known as Sparkassen, has been a topic of concern recently. Despite efforts to promote equal representation in leadership roles across various sectors, savings banks have remained largely exempt from the "Law on the equal participation of women and men in leadership positions in the private sector and in the public service" (FuPoG I).

1. The Exclusion of Savings Banks from FuPoG I

The legal and organizational structure of savings banks plays a significant role in their exclusion from FuPoG I. As public-law institutions, they operate under municipal or regional public law rather than corporate private law, which places them outside the direct regulatory scope of the law.

1. Implications for Gender Equality

Without the mandate of FuPoG I, savings banks are not legally obligated to meet minimum percentages of women in executive roles or supervisory boards. This lack of a binding legal quota can lead to slower progress in advancing women into leadership positions compared to private companies subject to the law.

Progress in gender equality often depends on voluntary initiatives, corporate culture, or specific policies of individual savings banks. However, being public-law entities with a local public mandate, savings banks may face social or political expectations to promote gender equality.

1. Current State of Gender Representation

According to the consulting firm Barkow Consulting, the gender quota in local savings banks currently stands at 5.8%. This figure was obtained in the second quarter of 2021, when the number of board members increased to 911, but the number of women remained constant at 53. If the current trend continues, savings banks would not reach a 30% gender quota until the year 2113.

This trend of constant female representation and increasing board members causes the quota to drop. Barkow Consulting suggests that the low representation of women in local savings banks is due to the exclusion of savings banks from FuPoG I.

1. Moving Forward

The consultants propose that savings banks be explicitly included in FuPoG I to increase the proportion of women in these institutions. This could help accelerate progress towards gender equality and ensure more equitable representation in leadership roles within the savings bank sector.

In the meantime, it's crucial for savings banks to take voluntary measures to promote gender equality and foster a culture that encourages the advancement of women into leadership positions. By doing so, they can contribute to a more balanced and inclusive workforce, reflecting the diverse communities they serve.

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