Prominent women have hailed the departure of former Prime Minister Tony Abbott as an opportunity to drastically improve the government's focus on women.

Transfield chairman Diane Smith-Gander said reform had to have a much wider prism to include critical issues such as women's participation rates in the economy and the retirement savings gap for women.

"What we want is a broadly based tax reform [for example] but with a special women's lens to consider workforce participation, retirement income equity and also child care," she said.

Transfield chair Diane Smith-Gander has urged Malcolm Turnbull to put more women in positions of power. Photo: Rob Homer

Mr Turnbull should also act to improve the gender balance on government agencies and advisory bodies, she said.

Advertisement

She pointed at the current make-up of the Prime Minister's Business Advisory Council, headed by Maurice Newman, as being ripe for change.

"It is 10 men and two women is should be fifty-fifty," she said.

Company director Rebecca McGrath is calling for more 'gender diversity'. Photo: Arsineh Houspian

More broadly, Ms Smith-Gander said Mr Turnbull should support Independent Senator Nick Xenophon's bill to mandate a minimum 40 per cent quota for women on government boards.

That move would prevent backsliding and provide a "rallying cry" for action.

"It is so obviously doable," she said.

Many business leaders have also expressed a hope that a starting point for Mr Turnbull would to ensure there would be more women in cabinet.

"I am confident we will now see a stronger voice for women in a Turnbull Cabinet," said Investa Office Fund chairman Deborah Page praised Liberal Party MPs for making a "tough decision" 

Perhaps now we will also see leadership on issues such as the critical need for a comprehensive childcare framework to support today's employment environment.

Rebecca McGrath, a director of JP Morgan, OZ Minerals and CSR, said more women should be in cabinet because there were talented women available

"I would like to see some more gender diversity," she said

"I'm optimistic we will get some talented women to come through into more senior roles, but we will see."

Ms Smith-Gander said she hoped Mr Turnbull would shed the role as minister for women held by Mr Abbott and hand it to another man in cabinet.

She hoped that any of the female members of the new cabinet would be too busy for the role with bigger portfolios.

 

Poll: Who would you like to see in Malcolm Turnbull's cabinet?

Poll closes in 107 days.