A call to all: How to build an inclusive future

As i travel around the world I’m struck by the number of countries where there is now a really good, vibrant conversation about gender diversity and equal pay. But too often it stops with the conversation, good words don’t always translate in to meaningful actions. Despite years of progress in many parts of the world, I’m frustrated to see that women still lag behind men in both pay and opportunity despite demonstrating leadership skills that deserve seniority and fairer remuneration.

At the same time there are some bright spots; countries and businesses that are challenging the status quo. In the UAE for example, a law recently passed by the government ensures that women will now be paid wages equal to their male colleagues. This is a significant step forward in the pursuit of gender equality, and reflects the country’s position on women’s economic empowerment and access to job opportunities. I’m delighted to see these progressive policies being developed and the UAE leading in gender equality, acting as a model for other countries to follow.

Establishing legislation is one thing, but the challenge of changing mindsets and behaviour by mitigating gender bias in both the public and private sectors is another.

Research published in the Harvard Business Review in October last year pointed to the fact that women held only 20 per cent of executive committee roles and 22 per cent of board positions among 50 leading American financial services companies. When looking at large US financial companies, only 12 per cent of their CEOs are women.

In the professional services world, it’s no secret that there is a smaller number of women in leadership roles compared to men. Our industry and many others have been traditionally maledominated, and we continue to see too few women in senior positions in organisations around the world. While the numbers are certainly improving, many capable women still do not make it to leadership positions, and often seem to hit a glass ceiling they cannot break. Even for the minority who do make it to the top, many are still paid less than their male counterparts.

If we don’t have women contributing on the same basis as men, then we’re not going to be able to solve some of the major problems around the world, whether it’s the refugee crisis or global poverty. In previous years at the World Economic Forum meeting in Davos, we saw the forum chairs made up of predominantly men — how can we solve some of the world’s biggest issues when 50 per cent of the population is not at the table? I was lucky enough to be in Davos this year and saw first-hand the impact of the Forum being chaired entirely by women. This felt like the beginning of a positive movement.

So what is the reason for the stark disparity? It’s certainly not the lack of talent, innovation or commitment of millions of women worldwide. Unfortunately, I believe it is down to occupational and industry segregation, overt discrimination and gender biases that are causing this imbalance.

To truly break through the glass ceiling especially in our industry, a fundamental organisational culture change is necessary, with leadership taking a stand and supporting change. This can be made possible through leadership training and career development programs, having zero tolerance for stereotyping and discrimination against women, and taking an in-depth look at how to enable business practices to help women advance to senior positions.

It is also worth noting that compared to many of their male colleagues, some women tend to downplay their successes in the workplace or be highly critical of themselves and their abilities, not recognising that sometimes their attributes can set them apart and give them an edge. Women tend to be more curious, they tend to want to bring people together in a way that’s more collaborative. They’re more likely to cheer each other on, and these soft skills are just as, if not more important as technical skills to succeed in multicultural and multigenerational organisations.

Our field can be quite demanding in terms of the time commitment, and finding a balance between personal and professional commitments is key, and increasingly this is not just a female issue — men want work-life balance too. Workplaces must become more agile and allow flexible working arrangements, as our work and personal lives are increasingly intersecting. Flexible working has been stuck for too long as being thought of as a women-only issue, but needs to be brought to life for everyone.

Organisations need to invest in developing a strategy that encourages a culture of inclusion in the workplace and recognise the benefits of having a diverse workforce, including innovation, increased engagement and ultimately economic growth.

Companies must realise that this is not about social engineering or simply doing the right thing — there is a stark business rationale too. Our clients expect to see their own diversity reflected in the teams they work with, and for those teams to understand how all aspects of diversity can be unleashed to make a positive impact in our clients and in society more broadly.

So what is the reason for the stark disparity? I believe it is down to occupational and industry segregation, overt discrimination and gender biases that are causing this imbalance