Exploring developments in the industry ten years after the financial crisis of 2007-9, new research sponsored by the SWIFT Institute aims to unravel and answer two key questions facing the financial industry.
- How can (gender) diversity become core to business in finance, or in other words, how can more women be attracted to the industry and promoted to leadership positions within it?
- What are the mature and less mature practices for improving gender diversity in senior management in finance?
Culture drives diversity, rather than any single or combined set of gender equality initiatives.
- If dominated by “male values”, the culture of an organisation is perceived as the biggest barrier to greater gender diversity.
- Support from top management is considered to be the most important factor driving greater diversity (and the right culture). Middle management is perceived as a pivotal layer, either as an obstacle or as a central enabler, but is also the group most likely to be in need of support to implement change.
- The success (or lack) of initiatives for diversity within financial companies has implications for the competitiveness of financial centres and the diversity of people that make-up the financial elite.
- Financial organisations working towards a more diverse workforce have to address cultural barriers and the similarity attraction paradigm.
Download the full paper here.
Download the Executive Summary here.
by Dariusz Wójcik, Kristina Kämpfer