Diversity

At Marks Sattin, we recognise and advocate that a diverse workforce contributes positively to a company’s success and growth. Browse our diversity content below to get the latest news from the team.

Find out how we're leading by example in the diversity space.

our commitment to diversity & inclusion

The business case for a robust diversity and inclusion strategy in your organisation
The business case for a robust diversity and inclusion strategy in your organisation

Teaser

HR

Content Type

Diversity

05/08/20

Summary

The past few months – and indeed, years – have demonstrated just how important diversity and inclusion are in modern society. Through the #MeToo and Black Lives Matter movements, a light has been shone on the inequality and injustice that persists, not just in our day to day lives, but also in the workplace. We can no longer ignore how important diversity and inclusion are to businesses, nor can we expect things to get better without actively working to improve conditions and outcomes for everyone. And while promoting diversity and inclusion is absolutely the right thing to do for employees, there are also business benefits to doing so.  What is diversity and inclusion? Diversity and inclusion aren’t just a priority for HR departments – it should be a key business strategy for all organisations. Workplace diversity can be defined as the understanding, acceptance and promotion of differences between people. This includes those of different genders, races, ages, sexual orientations, disabilities and religions, as well as people who have different educational, socioeconomic and experiential backgrounds. Meanwhile, inclusion is about creating a supportive and respectful work environment that values collaboration and participation of all employees, helping everyone to feel included. Together, diversity and inclusion make companies more welcoming, accessible and harmonious for everyone, not to mention more profitable and competitive. Why is diversity and inclusion important? First and foremost, diversity and inclusion are essential to make workplaces better for everyone. Purely from a compassionate perspective, it’s the right thing for employers to create environments where people feel comfortable to be themselves and can succeed without limitation. Commercially, diversity and inclusion have a significant number of benefits. Firstly, a strong focus on D&I can significantly widen the candidate talent pool , giving you access to more candidates who may be excluded by non-diverse hiring strategies. With 70% of job seekers looking for a company’s commitment to diversity when applying for new roles, it’s clear that you may be missing out on top talent if you neglect to address D&I in your organisation.  On top of that, diverse organisations have better business results, higher employee satisfaction and are more innovative, according to Business in the Community . McKinsey research shows that executive teams in the top quartile for gender diversity were 25% more likely to have above-average profitability than those companies who perform poorly in terms of executive-level gender diversity. This figure jumps to 36% when analysing teams with ethnic diversity. Diverse teams have also been proven to be more innovative, solve problems faster and have more engaged employees.  Small steps to move the dial on D&I in your organisation The current emphasis on working from home presents a key opportunity for employers to rethink their D&I hiring strategies, with current conditions potentially opening up more flexible, part-time opportunities for those who may not have otherwise been able to commit to a 9-5 office job. To welcome more working parents and caregivers, disabled people and those with neurodiversity requirements, consider whether vacancies could be flexible, remote working or on part-time hours. Now is the perfect time to rethink your workspace and how it can be made more accessible to more people. A dedicated diversity and inclusion policy, taskforce or officer can help to highlight its importance within your business. You could perform a D&I audit, examining the levels of diversity that exist within the company and specifically at the executive level, and set goals to achieve a more balanced, inclusive environment within a certain time period. Have open conversations with your team members about D&I and ask them what would make them – and new team members – feel more welcomed. It’s also important to acknowledge the diversity that already exists in your company, such as by celebrating different cultural and religious events, greeting bilingual employees in their mother tongue or inviting families into work.  Finally, while diversity and inclusion should be championed at the very highest levels of your business, it’s crucial that every single team member feels safe to contribute to these discussions and voice their opinions and stories. Prepare to tackle some difficult topics and be questioned. While subjects like the gender pay gap, lack of executive-level diversity and opportunities for progression can feel difficult to address, they are important conversations that need to be had in the process of making real change.  Marks Sattin can help to diversify your talent poolBy partnering with a specialist recruitment agency which has a strong focus on diversity and inclusion , you’ll benefit from having access to more candidates and guidance on how to actively recruit from diverse talent pools. At Marks Sattin, we can help you identify, attract and retain exceptional people across financial services, technology, change management and more.  Learn more about our commitment to diversity and inclusion or contact us to have a chat about how we can work together. 

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The past few months – and indeed, years – have demonstrated just how important diversity and inclusion are in modern society.

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Becky Hughes

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Becky Hughes

Becky Hughes

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Becky Hughes

The cost of the status quo | A contribution from Women in Fund Finance
The cost of the status quo | A contribution from Women in Fund Finance

Teaser

HR

Content Type

Diversity

16/09/19

Summary

How failing to recruit and retain a diverse workforce may lose you the next big mandate, a contribution from Chelsea Bruno and Meera Savjani on behalf of Women in Fund Finance. Although hard to believe, there are still some who do not understand the value of diversity. Despite countless studies providing strong evidence that the most successful companies are those that employ a diverse group of individuals, many maintain homogenous workforces with no intention of diversifying. Although this approach has long gone unchallenged, there is now a growing consciousness within many corporate cultures which is driving companies to hold their external counter parts and service providers accountable for failing to address the issue. It comes as no surprise that some of the more “traditional” industries such as law and finance have been slower to progress in building diverse talent pools, and the clients of these firms have started to notice. In January 2019, more than 170 general counsels and corporate legal officers in the United States signed an open letter to big law firms which criticised these firms for the lack of diversity at the partner level. The letter, which was signed by companies such as Heineken, Vox Media, and S&P Global Ratings, stated that going forward these companies (many of which operate globally) would prioritise their legal spend on those firms that commit to diversity and inclusion. The letter went on to state “we applaud those firms that have worked hard to hire, retain and promote to partnership outstanding and highly accomplished lawyers who are diverse in race, colour, age, gender orientation, sexual orientation, national origin, and religion and without regard to disabilities”1. Although the letter does not set out how these firms plan to measure such level of commitment, it’s clear that these firms are serious about holding their legal counterparts accountable, and when taking a closer look, it’s clear that emphasis on diversity does not stop at these 170 corporations. Across the Atlantic, industry groups in the UK are also pushing to hold big corporates accountable for failing to make meaningful progress when it comes to diversity. As reported by the Guardian in May 2019, the Investment Association (IA), a trade body which represents UK investment managers who in aggregate manage over £7.7tn in AUM, has confronted 94 publicly listed companies for failing to make sufficient progress on gender diversity. The IA has written to each of these companies and raised concerns about the lack of gender diversity in leadership positions. A list of companies which received the highest level of warning from the IA was recently published in the Guardian and confirmed by IA2 , and although some of these companies have responded with statements emphasising efforts to address such issues, it’s clear that shareholders and potential investors will be looking for measurable progress going forward. In line with such expectations, some investors are taking accountability into their own hands, as evidenced by a change implemented by ILPA (the Institutional Limited Partner Association), the global industry body that represents the interest of private equity limited partners. ILPA recently expanded its standard due diligence questionnaire (DDQ) to include a section related to diversity and inclusion, and requires firms fill in a template which aims to measure and report the gender and ethnic diversity of teams by seniority and role. It also includes a section of questions designed to help investors understand a firm’s policies and procedures in areas such as hiring, promotions, family leave, mentoring, and harassment and discrimination. When asked about the updated DDQ, CEO of ILPA Steve Nelson stated “ILPA believes that diversity and inclusion is a strength that all stakeholders within the private equity ecosystem should embrace and promote in meaningful ways,” said Nelson. “The due diligence questionnaire expansion and Code of Conduct guidance represent an opportunity for general partners (GPs) and limited partners (LPs) to have conversations about these important issues, in the spirit of a stronger and ever improving workplace for everyone. We look forward to advancing these ideals which serve as the foundation for a healthy, prosperous industry.”3 As with the other industry groups discussed herein, ILPA is sending a clear message that diversity is no longer an optional. Changes such as the updated DDQ make it increasingly difficult for firms to completely ignore the topic, and although the potential consequences are meaningful in all industries, the cyclicality of fundraising in private equity means the risk associated with failing to adapt could be both severe and expensive. While few would doubt that the conversation around diversity and inclusion has evolved significantly over the past two decades, many are now suggesting that the time has come for the conversation to expand into action. Although just a few examples are discussed herein, it's almost for certain that there will be more letters and questionnaires to come. With the rise of such accountability, the cost of failing to adapt may soon weigh heavy on firms and maintaining the status quo of a homogenous workforce may come to feel like a burden in itself. Thus, firms must ask themselves whether the status quo is worth the missed opportunity that will result. The 10th edition of our highly regarded Market Insight Report represents the views of over 1,100 professionals, and contains insights from our specialist consultants and key business partners on market and employment trends.  If you’re looking to find out more on salary benchmarking and the motivations driving the modern workforce today, download our full report which contains key contributions from Western Union Business Solutions,Seddons Solicitors, Intoo UK & Ireland  and Breaking the Silence. Cited https://www.law.com/americanlawyer/2019/01/27/170-gcs-pen-open-letter-to-law-firms-improve-on-diversity-or-lose-our-business/ https://www.theguardian.com/business/2019/may/13/investor-group-warns-almost-100-firms-over-lack-of-gender-diversity https://www.pr-inside.com/ilpa-publishes-diversity-and-inclusion-resources-f-r4704476.htm

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Although hard to believe, there are still some who do not understand the value of diversity.

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Mellani Georgiou

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Mellani Georgiou

Mellani Georgiou

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Mellani Georgiou

Women in accountancy earn £17,000 less than men
Women in accountancy earn £17,000 less than men

Teaser

General

Content Type

Diversity

25/08/16

Summary

Women in accountancy earn £67,680 on average, whereas their male colleagues earn £84,970 – a gender pay gap of £17,000, according to our research. For a man the basic salary in accountancy is £71,890 and the average for a woman is £59,420, meaning women’s average basic salaries are 83% of those awarded to men.  Looking particularly at the bonus element, the gap is even wider. The average bonus received by men as a percentage of their basic salary is currently 18.2% whereas women achieve bonuses at 13.9% of basic salary. In monetary terms this means bonuses for women in accountancy are £8,260, which is 36.9% less than the amount received by men, £13,080. However, the accountancy industry is doing better than the UK as a whole when it comes to salary equality. According to estimates from the Office for National Statistics, the gender pay gap across all sectors stands at 19.2%, which means women earn approximately 81% of a man’s salary on a national level.The situation is improving, and the pay gap shrinking, as overall remuneration packages for women in accountancy increase. Between 2013 and 2015 the average basic salary for women increased 3%, from £57,650 to £59,420. Bonuses for women are also on an upward trajectory, increasing from £7,150 in 2013 to £8,260 in 2015 – an increase of 15.5%. This monetary increase in the average bonus for women is a combination of an increased basic salary but also an uplift in the level of bonus awarded as a proportion of basic salary. Bonuses for women stood at 12.4% of basic salary in 2013 but this now stands at close to 13.9% . Matthew Wilcox, Managing Director at Marks Sattin, commented: “Earning equality between the genders is crucial for ensuring we continue to attract the highest calibre of talent to the profession but, in our experience, as accountants become more senior the pay gap often becomes wider. The reasons for this discrepancy are numerous and complex, but the starkness of the gulf means that firms and in-house teams must ensure they have clear policies which ensure women are just as encouraged as their male colleagues to excel in their careers and they realise that opportunities are equally within their reach. This can be as simple as making sure that female role models are identified and promoted and offering more flexible working arrangements where necessary.“Our research is promising for accountancy as it shows the pay gap is closing. The imperative for large companies to publish their gender pay gap from 2018 should galvanise further positive action and internal programmes to drive change. The accountancy industry itself is making strides toward equality, for example industry leader Deloitte spearheaded the issue last year by publicising its gender pay gap in advance, before it is compulsory to do so, and also attracted praise for promoting a swathe of talented women to partner level. EY  is also accelerating change in this space by making the link between gender equality in the work place and wider productivity and economic prosperity. "After all, women make up 50% of the global workforce and it makes business sense for that talent to be optimised as much as that of their male colleagues.” All things equal? Marks Sattin’s research also identified a discrepancy in the salary increase seen as acceptable by men and women, as offered by a prospective employer, in order to motivate them to change role. Women perceive an offer of a 14% salary increase to be acceptable whereas men indicated 16%.  When asked about the reason they last moved role, the most popular reason given by both men and women was career development, with 39% of men and 32% of women embarking on their current role for the enhanced career development prospects.  Furthermore the proportion of male and female accountants who left their previous job primarily to achieve a better balance between their work and home life was similar, with 12% of men identifying this as their driver and 15% of women doing so.   Matthew Wilcox said: “Our research shows men and women in the accountancy industry are highly ambitious but there is inconsistency in how they perceive their value as employees, with men seeking a higher salary uplift in order to move role. It is vital that employers are very clear when appraising performance and identify areas where improvement is needed but also where their employee excels. Men and women need to know that opportunities for career progression are open to them equally, subject to strong personal performance.”Our commitment to diversityWe recognise and advocate that a diverse workforce contributes positively to a company’s success and growth. Learn more about how we are leading by example and contributing to the conversation in the diversity and inclusion space.    

Teaser

Women in accountancy earn £67,680 on average, whereas their male colleagues earn £84,970 – a gender pay gap of £17,000, according to our research.

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Matthew Wilcox

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Matthew Wilcox

Matthew Wilcox

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Matthew Wilcox

Diversity and financial services
Diversity and financial services

Teaser

Financial Services

Content Type

Diversity

11/04/16

Summary

The financial services sector in the UK is struggling from a lack of gender diversity, especially at the senior management level, according to several recent reports. While the oft-repeated, largely meaningless assertion that the financial crisis might not have happened if the industry's trading culture had been driven by female intuition rather than machismo does not stand up to scrutiny, there are problems with this imbalance. Numerous metrics have shown that diverse firms tend to out-perform their homogeneous counterparts, especially when it comes to innovation and product development. With this in mind, the financial services sector should be concerned by studies such as the one released by the University of Exeter and the Financial Services Knowledge Transfer Network in March of this year. Professor Michelle Ryan from the organisation's psychology department pointed out that, despite  strong levels of diversity throughout financial services organisations, the majority of executives and managers tend to be male. "This report draws on the experiences of staff in the industry and on academic research to reveal the multiple sources of barriers to gender equality," she added. Exeter's research suggested that introducing initiatives such as leadership or diversity training can encourage more women to go for top jobs; however, it also argued that changing organisational culture to ensure it is female-friendly is also crucial. Barriers highlighted by respondents to the study included issues of work-life balance, a lack of role models and mentors, stereotypes and unconscious bias, and a general fear of not fitting in at the executive level. With potential diversity benefits ranging from cost saving on recruitment to improved ways to meet the different needs of customers, it is clear the industry needs to develop systems that help women fulfil their career potential. One firm that has attempted to do this is Barclays, which operated numerous policies aimed at driving up diversity levels. "From the boardroom to our branches, it’s about creating an inclusive culture where everyone works together to deliver the right solutions for our customers and clients," the organisation declared. Our commitment to diversityWe recognise and advocate that a diverse workforce contributes positively to a company’s success and growth. Learn more about how we are leading by example and contributing to the conversation in the diversity and inclusion space.

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The financial services sector in the UK is struggling from a lack of gender diversity, especially at the senior management level, according to several recent reports.

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Thomas Wesseldine

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Thomas Wesseldine

Thomas Wesseldine

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Thomas Wesseldine

Attracting more women to the top table in finance
Attracting more women to the top table in finance

Teaser

General

Content Type

Diversity

11/04/16

Summary

Of 130 directors of 17 companies floated on the London Stock Exchange last year, only 15 (11 per cent) were female, according to the latest analysis from the Financial News. The figures are slightly more positive when it comes to firms already on the FTSE 100, where 20.4 per cent of directors are women; the corresponding percentage for the FTSE 250 is 15.1 per cent. A great deal of discussion has taken place in recent years about how the financial services industry can improve the number of female workers who rise to the top; the prospect of quotas has been mooted, by the EU as well as other organisations. However, as the market for initial public offerings in Europe revives following a flat few years, concerns have been raised once again that the leadership structure of many firms is 'too male and too pale'. Anne Richards, Chief Investment Officer of Aberdeen Asset Management, said there have been fewer women reaching the top echelons of business than she anticipated. "It's ultimately the chairman's responsibility. They ultimately have to get it, if there is a major shareholder involved, they have to get that it matters too. Unless they are convinced, then nothing will change," she added. One problem when it comes to initial public offerings is that firms tend to look for board members with a great deal of expertise, meaning they are less likely to take a chance on an unproven figure. Jenny Willott, junior minister for women and equalities and for employment relations and consumer affairs, recently spoke at the Work & Family Show 2014. She said: "We need to make sure they're looking at a broader poll of women. Headhunters tend to go for people with the same likeness to themselves and we need to break away from that."Our commitment to diversityWe recognise and advocate that a diverse workforce contributes positively to a company’s success and growth. Learn more about how we are leading by example and contributing to the conversation in the diversity and inclusion space.

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Of 130 directors of 17 companies floated on the London Stock Exchange last year, only 15 (11 per cent) were female, according to the latest analysis from the Financial News.

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Matthew Wilcox

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Matthew Wilcox

Matthew Wilcox

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Matthew Wilcox

Could female political strength boost diversity in Scottish financial sector?
Could female political strength boost diversity in Scottish financial sector?

Teaser

General

Content Type

Diversity

11/04/16

Summary

The cause of women in business in Scotland may be boosted by the creation of a cabinet at Holyrood made up equally of men and women. In the very recent past, political matters in Scotland created considerable doubt over the future of much of its financial sector, as a number of institutions said they would either move to London or consider doing so in part or whole if there was a yes vote for independence. As it turned out, they had no need to pack their bags and clear their Edinburgh desks as the Scottish electorate voted to stay in the UK, but that result set another chain of events in motion. Having lost the referendum, first minister Alex Salmond resigned as Scottish National Party leader and first minister. His replacement, returned unopposed by her party and through the nationalists' majority in Holyrood, was Nicola Sturgeon, previously Mr Salmond's deputy. She has wasted no time in using her position as the first female first minister of Scotland to enforce equality at cabinet level by ensuring a 50-50 split between men and women. This may have a different impact on the Scottish financial sector - and other businesses - by helping to promote diversity in the workforce, not least among women. Ms Sturgeon commented: "Every member of the cabinet is part of this government's top team on merit, on the basis of the excellent work they have already done as ministers. "The cabinet line-up is also a clear demonstration that this government will work hard in all areas to promote women, to create gender equality and it sends out a strong message that the business of redressing the gender balance in public life starts right here in government." It is not just the Scottish Nationalists who are currently on the crest of a wave in the polls despite losing the referendum - who might play a role in inspiring greater involvement of women in senior roles at various organisations. Among the other main parties, the Conservatives are led by Ruth Davidson, while Scottish Labour were led by Johann Lamont until her recent decision to quit. For now, her position is being kept warm by Jackie Baillie, although she is not seeking the leadership. Although two of the four candidates for the Labour post are female, Jim Murphy - a prominent figure in the no campaign - is favourite to win. Even so, should he do so, he may feel it wise to increase female representation in Labour's shadow minister positions. He will be helped in this effort by the fact that the deputy will definitely be a woman, as that is a straight fight between Kezia Dugdale and Katy Clark. Indeed, with the Nationalists seeking to take the initiative on diversity as they try to become the majority party in Scotland at next year's general election, Labour may consider it wise to make sure they compete on this front, not least as it would match similar pledges made at national level regarding the front bench at Westminster. If so, it could raise the profile of women further in Scottish politics - and by extension business. If this is one development that spreads to Westminster, it may similarly generate momentum for greater gender diversity elsewhere in Britain. Our commitment to diversityWe recognise and advocate that a diverse workforce contributes positively to a company’s success and growth. Learn more about how we are leading by example and contributing to the conversation in the diversity and inclusion space.

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The cause of women in business in Scotland may be boosted by the creation of a cabinet at Holyrood made up equally of men and women.

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Matthew Wilcox

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Matthew Wilcox

Matthew Wilcox

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Matthew Wilcox

BP launches diversity report
BP launches diversity report

Teaser

General

Content Type

Diversity

11/04/16

Summary

British multinational fuel giant BP has launched a new report into the number of women in the oil and gas industry, a traditionally male-dominated sector that has improved diversity levels in recent years. The study was conducted with online resource Rigzone and questioned some 3,000 figures across the industry. While 72 per cent believe oil and gas is still largely staffed and ran by male executives, it does appear that positive steps are being taken, as they have been across other sectors such as finance. Some 60 per cent of respondents expressed the belief that more female workers will be entering the industry over the coming decade, although there was slightly less confidence that they could reach the apex of their profession. Kirsty Bashforth, group head of organizational effectiveness at BP, said the sector offers many opportunities to women who are keen to develop their career. "While the industry acknowledges it still has work to do in terms of a gender balanced pool of talent, the results of this survey demonstrate that industry initiatives and programs to engage women about careers in oil and gas are making an impact and we need to keep focused for them to continue to do so," she added. Women represented nearly 32 per cent of BP’s hires last year, highlighting just how important diversity is to one of the sector's leading companies. Accessing the best talent and building up the business means acting to counter gender imbalances, concluded Kirsty Bashforth. The financial services industry has undergone a similar shift in recent years, as reported in Marks Sattin's annual Market Insight report. While it previously suffered from a reputation for machismo, more women have entered the industry and a number of initiatives have been set up to attract female talent. However, there is still a worrying salary gap in the world of accountancy, with the difference between male and female pay widening by £2,000 since 2012.You can read more about BP's report here.Our commitment to diversityWe recognise and advocate that a diverse workforce contributes positively to a company’s success and growth. Learn more about how we are leading by example and contributing to the conversation in the diversity and inclusion space.

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British multinational fuel giant BP has launched a new report into the number of women in the oil and gas industry

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Pres Pillai

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Pres Pillai

Pres Pillai

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Pres Pillai

ACCA chief calls for improved diversity
ACCA chief calls for improved diversity

Teaser

Financial Services

Content Type

Diversity

11/04/16

Summary

The financial services sector needs to do more to push women to the top tier of businesses, according to recent comments made by the Association of Chartered Certified Accountants (ACCA) global chief executive, Helen Brand. Ms Brand made her comments at a recent conference for women working in the industry held in Lagos, Nigeria. She stressed that this issue is not confined to one specific country or continent, but an international problem that requires cross-border collaboration and wide-ranging cultural change. However, the ACCA head also pointed out that thinking around the issue of diversity should not become mired in gender - "there is diversity of cultures, diversity of skills and experiences, diversity of ideas and business perspectives that help create and drive great finance functions", she explained. Fundamentally, broadening the range of potential candidates for accounting jobs and allowing a wide range of views and backgrounds into the workforce tends to have a positive impact on a firm's bottom line, something Ms Brand was keen to stress in her keynote speech. "Quite simply, diversity is a critical component of capability. You want to employ the best people in finance and the best people simply are not defined along some set of homogeneous criteria," she declared. ACCA does not support the concept of quotas, despite the EU's ongoing efforts to introduce these into the UK finance world. This kind of move can be seen as tokenistic and simply lead to box-ticking rather than long-lasting, deep-seated change within the sector, warned Ms Brand. She noted that since the Davies report came out more than two years ago, with the stated aim of achieving a 25 per cent figure of women in FTSE boardrooms, nearly half of new appointments to senior positions have been female. The Prudential Regulation Authority recently suggested that the EU's efforts to drive up diversity in the financial services sector could see a mandatory quota system introduced within the next few years.Our commitment to diversityWe recognise and advocate that a diverse workforce contributes positively to a company’s success and growth. Learn more about how we are leading by example and contributing to the conversation in the diversity and inclusion space.

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The financial services sector needs to do more to push women to the top tier of businesses

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David Harvey

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David Harvey

David Harvey

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David Harvey

Women 'must get involved in central banking'
Women 'must get involved in central banking'

Teaser

Financial Services

Content Type

Diversity

11/04/16

Summary

While the financial services market has made great strides when it comes to gender equality over the last few years, with many firms losing their reputation for having a macho environment, central banking and regulation posts are still dominated by male candidates. According to Diane Coyle, who runs the London-based consultancy Enlightenment Economics, economics remains one of the most masculine professions, rivalled only by physics and computer science in this regard. With this in mind, Ms Coyle hailed the appointment of Janet Yellen to lead the US Federal Reserve as a milestone for the sector and a positive step for a profession that has come under a great deal of criticism in the last few years. Writing in the Financial Times, she pointed out that women tend to be less interested in macroeconomics, perhaps because of how it is taught in universities. Instead, they look to applied areas such as the economics of health or education. "The most important reason for welcoming Ms Yellen's appointment, however, is the need for independent central banks to have legitimacy in their societies, especially at such an important time for economic policy," she declared. Given the high levels of scrutiny and criticism the financial sector has attracted in recent years, it is obvious it needs to do whatever it can to improve its reputation and keep the public on-side. Driving up gender diversity at the highest level is one way to do this, especially after the likes of the International Monetary Fund's managing director Christine Lagarde suggested having more women as executives could make banks safer and more risk-averse. "It is unacceptable to have monetary policy and financial regulation remain almost entirely male territory," concluded Ms Coyle. According to a recent Oxford University study for the Building Societies Association, falling diversity in the world of financial services could reduce the sector's resilience as well as its potential for innovation.

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While the financial services market has made great strides when it comes to gender equality over the last few years, with many firms losing their reputation for having a macho environment

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David Harvey

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David Harvey

David Harvey

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David Harvey