The challenges businesses face around achieving gender balance seem to be in the headlines every other day and shocking statistics underline the worrying issues around female pay disparity. Financial services firms in particular are often in the limelight on this topic because of the Women in Finance Charter and because financial services firms struggle to attract, and retain female talent.
At PageGroup, we have worked with financial services organisations for forty years and our data shows that women are hired at entry level. However, there is a drastic drop once you start looking at hires above £80K base salaries and in 2015, 54% of our overall hires into financial services were female.
This was a great achievement but unfortunately the following is also true:
FACT 1 At the £80-130K level, the number of female hires drops drastically to 35%
FACT 2 At £130K+ it is 20%.
This is a worrying trend but the positive news is that the dial is shifting. One of the areas that has traditionally struggled to achieve an equal gender balance has been Finance.
Our stats show that in 2014, 20% of our hires into finance in FS were female. In 2015 that number was up at 32%.
Why we are best placed to help?
At PageGroup we believe that in order to offer valuable advice and guidance on important issues, we need to speak from our own experience and be committed to providing a diverse, open and inclusive working environment. We have created a programme of D&I initiatives that underpins this commitment. Our diversity programme has been widely recognised as industry-leading with several global and national awards including, the ‘Most Effective Diversity & Inclusion Strategy’, and the ‘Outstanding Employee Engagement Strategy’ awards, recognising the success we’ve achieved.
It’s not just an initiative, it is embedded at every level of the organisation and we want to help you achieve the same through:
- Balanced shortlists
- Innovative candidate sourcing techniques
- Creative and focused advertising
Take a look at our exciting D&I programme where you can view our ‘PageGroup is People’ video and read the latest news and updates. Get guidance in sustaining an inclusive working environment, along with a diverse workforce to add value to your business.
This is how we can help
We have worked closely over the last two years with a number of global financial services industry leaders looking at their D&I agendas and linking it to their recruitment strategies. We’ve successfully driven D&I agendas, whist keeping their employees engaged, and motivated throughout.
PageGroup’s D&I Checklist Generator will give you the guidance you need to better understand your D&I agenda, advise you on how to roll out the relevant training, measure your employee engagement effectively and make suggestions on how best to celebrate your D&I achievements.
If you are in a business that actively wants to improve its D&I agenda, or if you are a woman wanting to develop your career further, please contact Nina Buttle at email@example.com, or telephone: 020 7645 1413.
Nina has been with PageGroup for 13 years working with finance professionals in financial services. She juggles a busy home and work life with three boys under the age of nine and works four days a week.