Breaking Barriers: New EU Rules to Boost Gender Balance on Corporate Boards

by THEFUTURE.TEAM

January 6, 2025

The European Union has taken a significant step toward gender equality in the boardroom with a directive on gender balance that officially came into force at the end of 2024. Announced by the European Commission, the legislation aims to ensure more equitable representation of men and women on corporate boards across member states.

Key Highlights

The directive mandates that women must make up at least 40% of non-executive directors and 33% of all directors in large European companies.
Member states were required to adapt their national legislation to align with the directive by December 28, 2024, with companies expected to meet these targets by June 2026.
The selection processes for board appointments must be transparent, ensuring equal consideration for all candidates. In cases where male and female candidates are equally qualified, the directive stipulates that preference should be given to the woman.
Unsuccessful candidates can request information about the selection criteria, promoting accountability in the hiring process.
Companies failing to comply with the directive’s requirements could face fines or even annulment of disputed board appointments.
EU member states are tasked with maintaining a public registry of companies that achieve these gender balance goals, as well as designating authorities to monitor, promote, and support progress.

The Bigger Picture

Currently, women hold an average of 34% of board positions in the EU. While progress has been steady since 2010, the pace varies significantly across member states, with some seeing stagnation in recent years, according to the European Commission.

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Spotlight on Cyprus

Cyprus is gradually making progress in enhancing gender representation in leadership roles. While the island nation has traditionally faced challenges in achieving gender balance, recent years have seen a growing recognition of the importance of equality in corporate governance.

Currently, women occupy approximately 20% of board positions in major Cypriot companies, with some sectors, such as finance and tourism, showing more noticeable improvements. However, this figure still lags behind the EU average of 34%.

To align with the EU directive, Cyprus is working on implementing transparent board selection processes and promoting policies that encourage women to step into leadership roles. Local initiatives, including mentoring programs and leadership training for women, are gaining traction and aim to address the systemic barriers that have historically limited female participation at the top levels of management.

Cyprus’s progress, though slower compared to some EU nations, reflects a broader cultural and structural shift toward inclusivity. As the EU deadline approaches in 2026, the hope is that Cyprus will achieve significant strides in gender equality, paving the way for more balanced representation in corporate leadership.

Conclusion

The EU’s gender balance directive represents a pivotal step in addressing gender disparities in corporate leadership. By fostering transparency and accountability, these new rules aim to create more inclusive boardrooms and drive meaningful progress in the years ahead.

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Navigating Persistent Pressures: Labour Shortages, Bureaucracy, And Payment Delays In Limassol

by THEFUTURE.TEAM

December 19, 2025

Labour Shortages Challenge Expansion

Recent data from the Limassol Chamber Of Commerce And Industry underscores the enduring pressure within Limassol’s business community. Rather than indicating a sudden economic downturn, the survey reveals a gradual intensification of challenges that have long been a concern for local enterprises.

Skilled Labour In Short Supply

At the forefront is a chronic shortage of skilled labour, which accounts for 22.5% of the responses. Companies across a diverse range of sectors—from engineering and technical services to professional driving and specialized sales—are grappling with vacancies that remain open for extended periods. The persistent demand for critical skills forces many firms to overextend their existing workforce or postpone strategic projects. While recruiting talent from abroad is increasingly seen as a necessity, the process is often hampered by procedural delays, strict regulatory constraints, and rising employment costs.

Administrative Complexities And Public Sector Frustration

In addition to labour challenges, businesses express deep frustration with public-sector inefficiencies. Slow administrative procedures, fragmented communication, and a lack of clear guidance have rendered government support only marginally effective. With more than half of respondents regarding public services as minimally helpful, the inefficiencies highlight a system that frequently delays critical decisions and complicates routine business processes.

Deteriorating Payment Discipline

The survey also highlights a significant decline in payment discipline, with difficulties in collecting debts now ranking third among business concerns at 11.8%. Late payments are intensifying cash-flow pressures, extending through supply chains and further straining liquidity. Added to this is a sluggish justice system, where prolonged court delays have left companies financially exposed, often shouldering the burden of non-compliant customers while legal remedies lag behind.

Cost Pressures And Cautious Investment

Rising labour costs, intense domestic competition, and the pressure of lower-cost international markets — particularly in Asia — are driving firms to reconsider their investment priorities. Although nearly 60% of businesses intend to hire in the near term, investment plans in infrastructure, technology, and renewable energy are markedly selective. Overall sentiment remains cautious, with two-thirds of respondents expecting sales to stay level, both domestically and in overseas markets.

Calls For Policy Reforms And Digital Transformation

In an environment strained by excessive bureaucracy and inconsistent policy, businesses advocate for decisive governmental action. Respondents have pointed to the need for reduced business taxation, streamlined administrative processes, and more responsive public services. Furthermore, investment in digital transformation, artificial intelligence tools, and enhanced collaboration with academic and research institutions are seen as critical to boosting competitiveness and fostering innovation.

Conclusion: A Need For Strategic Reforms

The autumn 2025 barometer paints a picture of a resilient business community operating under increasing strain. With entrenched labour shortages, administrative inefficiencies, and deteriorating payment discipline, there is a clear call for targeted reforms. Addressing these structural challenges will be essential for ensuring that Limassol’s businesses not only sustain their current operations but also position themselves for future growth in an increasingly competitive global landscape.

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