INTRODUCTING mandatory quotas is not the answer to getting more women on boards, according to Westpac CEO Gail Kelly.

Instead, companies should introduce a mixture of gender equality strategies such as: recruitment models, discussion forums, training programs, role modelling and rewards.

Speaking today at the QUT Business Leaders' Forum, Ms Kelly said that although she believes diversity and gender equality should be high on the corporate agenda, mandating minimum numbers of women for company boards is not the answer.

"I'm a passionate advocate about driving diversity at work, but in my view that does not necessarily mean mandating," she said.

"I personally think mandated positions can have unforeseen consequences and unintended and poor outcomes." Ms Kelly believes that the ASX's "name and shame" approach was a great way to go.

Under ASX corporate governance principles, listed companies must publish workplace gender diversity policies and disclose each year their objectives for achieving them.

They are also required to disclose the proportion of women in the organisation, in senior management positions and on the company's board.

"A conscious focus, name and shame approach where boards are held to account to have to explain their performance and their track record not only at board level, but actually at senior levels is the right way to go," Ms Kelly said.

The most recent Census of Women in Leadership last year found 62 per cent of ASX 200 companies had not a single woman in senior executive teams.

Kelly said that the issue should not "start and stop at boards" though, and suggested that change should occur throughout organisations.

Currently, thirty-six per cent of leadership positions at Westpac are currently held by women, and it is aiming to reach 40 per cent by 2014. However, Ms Kelly said she would not stop growing this number until it reached 50 per cent.

"Why accept less than 50 per cent?" she said.