Driving Change in Financial Services

By Amy North

As we celebrate International Women's Day today, I wanted to take a moment to reflect on our journey in the financial services industry. Like many of you, I didn't exactly plan to land here, but I'm grateful for the opportunities and incredible people I've had the privilege to work with at We Complement over the past three years.

We Complement is fortunate to partner with firms that prioritise inclusivity, but let's not ignore the reality check from the recent House of Commons Treasury Select Committee report titled "Sexism in the City." It's disheartening to read about the widespread issues of sexual harassment and bullying that still plague our industry. It's a sobering reminder that we still have a long way to go.

One thing that struck me from the report is the pervasive culture within the sector that holds back progress for women. It's clear that addressing issues like pay disparity, harassment, and maternity leave requires more than just surface-level fixes. We need deep-rooted changes in our culture.

Recently, I had a conversation with a friend who, like many women in our industry, feels pressured to prioritise career advancement before starting a family. This mindset is concerning because parenthood should not be seen as an obstacle to professional growth but as a natural part of life's journey.

On a positive note, the Office for National Statistics (ONS) data has revealed that women made up 47.3% of staff in the financial and insurance services sector for Q4 2023, this is a 3.26% increase from Q1 2023.?Progress is happening, but there's still much work to be done.

So, here are a few suggestions for how we can improve our culture and support women and men in our workplace:

1. Flexible working policies: Let's rethink the traditional 9-5 and explore options like flexible schedules, part-time work, and job sharing. By accommodating the realities of childcare responsibilities, we'll attract more talent and foster loyalty among our team.
2. Remote working/hybrid: Embracing remote work not only benefits the environment but also promotes work-life balance, especially for those juggling school drop-offs and pickups. Trust me, a motivated and engaged team can thrive with the right remote setup. Feel free to reach out to We Complement if you need a hand with this.
3. Maternity policies: Let's value and support employees taking time off for family without penalising their career growth. It's time to bridge the gap in salary stagnation between men and women post-parenthood.
4. Women in the boardroom: If our team is diverse but our leadership isn't, let's ask ourselves why. Representation matters, and it's essential to have diverse voices at every level of decision-making.

Together, let's continue striving for a more inclusive and supportive workplace where everyone can thrive, regardless of gender or family status.

Here's to progress and positive change.

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