Shifting the sticky middle
The sticky middle is where 'this is how we do business here' mentality results in the loss of many talented women, and I am sure talented men too who also do not fit the mould.
One Loud Voice have two specific programmes to address this problem.
First is a gender partnership framework for all men in middle management.
The objective here is to create short-term partnerships between men and women focused on breaking down barriers, creating better understanding between the sexes and promoting a culture of tolerance and empathy within a controlled framework.
The second programme focuses on women in middle management and looks to use, firstly, dynamic coaching techniques to help women identify and overcome internal (specific to them) and external (company specific) barriers.
Furthermore, use vibrant coaching. This looks to change women managers' mind-set and how they view and react to micro-aggressions and gender inappropriate behaviour, enabling them to remain focused on their career progression and the path to promotion.
In addition to coaching, I would propose that every senior executive is partnered in a sponsorship relationship with a women in middle management.
All these measures should enable more women to successfully navigate the sticky middle andaugment the firm’s talent pool.
Getting rid of the motherhood penalty
Motherhood has a huge impact on women’s career and pay.
Firms can change that through an array of measures to make the business more attractive to parents of young children.
As a priority, I would suggest two measures:
1. Equal parental leave
While maternity leave benefits are now generally fit for purpose, shared parental leave is far less generous, both in terms of time off and monetary value.
This needs to change if women (and men) are to be given a real, workable option as to who takes time out to look after the children.
Equal parental leave should help create a more level playing field for both women and men.
2. Flexible working
Women (and men) benefit enormously by having the flexibility to work from home.
The flexibility enables them to balance their home responsibilities alongside their work, providing a much better work/life balance for all employees.
There is some push back against flexible working, but if a firm is serious about gender equity then it must provide genuine flexibility round work, including remote/hybrid working, part time and job share.
Harassment and bullying
Despite ever-expanding regulation and scrutiny, financial services, especially wealth and fund management, remain male-dominated and corrosive cultures survive.
Only recently I listened to a case of sexual harassment, abuse of power and tacit cover-up so as not to rock the boat.
