“The deadline for reporting on gender pay gaps is fast approaching and while reporting and transparency are an exciting development and a great example of how regulation can make a difference, the real question is what are we going to do about it,” says Ingrid Silver, partner at Reed Smith. “We want to share what we, as a representative group of senior industry executives, think needs to be done to address the underlying systemic issues which are manifested by the gender pay gap.”
With some 28 per cent of FTSE 100 board seats in the UK being held by women -up from 13 per cent in 2011- there is remarkable lack of progress of promotion of women to senior executive positons, according to the recent Enders Analysis’ Women at Work Report 2018. In the same time frame (2011 to 2018), the number of female executive directors has only risen from six per cent to 10 per cent of the total. Meanwhile, women as a group have been subsumed into the wider diversity agenda, says Alice Enders, author of the Women at Work 2018 report. “Fifty per cent of the population deserves more than 10 per cent of the top jobs.”
In a wide-ranging discussion after a brief highlights presentation by Alice Enders of the Women at Work Report 2018, the group agreed on several issues that should be at the top of everyone’s agenda- both men and women- and how to address them head-on:
1. Focus on the Pipeline not only the top Positions:
“The focus should be on the pipeline of women moving up not just the board positions,” said one attendee and perception is backed up by research: according to the Women at Work Report 2018, the pipeline has been shrinking for some time: from 4.3 million women in 2007 in managerial roles vs 2.9 million in 2017 as companies have shed redundant layers of management. The problem is multifaceted, from a lack of proper mentoring to hiring practices whereby people hire people that “look like them”, which in business has meant mostly men hiring more men
2. Don't buy into the ‘Princess’ Syndrome:
Celebrate and reward women’s ways of working, rather than trying to fit into a male-dominated culture. Perception can be an advancement killer and there is an assumption that the way women speak and act and manage is something to be humoured or tolerated but in fact “having empathy allows you to be and to help create a different kind of leader.”
3. Recognise and call out unconscious bias:
The unconscious dialogue around women can be debilitating. It has a particular resonance around responsibility over P&Ls and says that women are incapable of senior financial roles. This bias can be a big “pinch point” for female entrepreneurs and female corporate executives alike as they try to raise money or move into senior financial roles. Women can face more scrutiny when they are considered for P&L oversight roles. It goes as deep as girls not being encouraged to do maths at school to assumptions that women aren’t interested in finance. This unconscious bias is limiting to development and advancement.
4. Women have a disproportionate responsibility to give opportunities to other women:
Women are programmed to not put themselves forward for roles and this has to be actively countered by both women and men in position of authority. This includes standing up for proper pay and a recognition of your right to have a family and not get side lined in your career trajectory. The “imposter syndrome” that has women assuming that they are going to be “found out” to not be good enough can only be countered by support networks and proper mentoring.
5. It takes all of us, men and women, together to change perceptions:
The unconscious (and conscious) bias in order to effect real change. There are already "positive action" points that employers may legally take to address the paucity of female executives in the pipeline and in their companies, it’s a question of using them.
6. Call out sexual harassment and discrimination:
With the focus on the #MeToo movement this is becoming the default position but still needs to be paid attention to. Women and men all need to be protectors of victims and not tolerate it.
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