by Sellick Partnership | 8 March 2019
Earlier this year, Consultant Alice Cresswell-Hogg discussed female leadership within the Wealth & Investment Manager sector within the Liverpool Business Post. You can read what she said here, or check out the full article by checking out the March 2019 edition of Liverpool Business Post.
As we celebrate yet another International Women’s Day, and thoughts turn to female leadership I decided it would be a great opportunity to discuss the current state of play within the Wealth & Investment Management sector. A largely male dominated sector, Wealth & Investment Management has got a way to go to catch up with some of the more forward thinking sectors currently leading the way in the race towards gender equality. In the UK, female Fund Managers run only 6 percent of the money in funds, according to the report from specialist publisher Citywire.
It is disappointing that women are still lagging behind men in almost every sector, with many businesses failing to offer benefits that are attractive to both their male and female employees. I believe this is mainly due to a lack of knowledge and understanding of the needs of their workforce. In order to rectify this more needs to be done to ensure businesses are aware of the benefits and additional strategies they can adopt to be seen as a more attractive option to all candidates.
The majority of investment houses I recruit into are still made up of predominantly male employees, as such, many organisations within the sector fail to offer additional benefits such as better maternity and paternity packages and flexible working. Unfortunately, this is making roles seem unattractive and often unattainable for female candidates. This has a domino effect on the rest of an organisation, rippling out into support-function roles within Back and Middle Office, where there are typically more female members of staff, but a lack of benefits on offer to support their growth.
This being said, there are a number of North West based firms that are going against the grain, and setting a shining example for the sector as a whole. There are a number of large investment houses in the sector that now offer full maternity pay and that have adapted working hours to encourage female leadership across the business. This is a real positive step for the sector overall and it is encouraging to see large investment houses waking up to the inequalities many women still face. I believe that promoting female leadership, and giving more female professionals a chance for success creates a more dynamic workforce and gives firms a real competitive advantage in the market.
In today’s modern society we need to ensure female professionals have the same opportunities as their male counterparts across every sector, and I hope I can use my position as a recruiter to help bring about change. If more businesses within the Wealth & Investment Management sector promoted strong female role models, adapted their working methods and benefits and encouraged their female staff to reach their full potential, I truly believe the historic ‘old boys club’ could quickly become a thing of the past, and we could achieve gender equality in our time.
Are you struggling to attract a diverse pool of candiates to your bsuiness? I would be more than happy to help. To discuss this, or how Sellick Partnership could be of assistance to you in 2019 please feel free to contact us on 0151 224 1480 or by me directly at firstname.lastname@example.org.