Have you registered for your virtual seat at the Women in Accountancy and Finance Awards 2020 in October? We’re pleased to see the diversity agenda being addressed like this, especially for women. But it’s so frustrating that those women who do make it to the top in our industry are so rare – role models, honoured heroes. They deserve every award and accolade they’ve worked extra hard for. But women in accountancy need more than an annual award ceremony to help smash the glass ceiling and reduce the pay gap. They need you!
Here’s five ways you can do your bit towards gender balance in accountancy, while increasing profitability and improving workplace culture.
- Set your own internal targets for gender diversity in senior management and have a strategy to achieve those goals. A diversity strategy is not about ticking a box. It should be about collecting data, maximising profit, accountability and transparency. And it should be the common goal of every member of your team.
- Have a gender diversity and inclusion mentor on the senior executive team. Studies show that the talent pipeline shrinks around mid-management level – dropping from a 50/50 gender split to around 3% of females at board level. Having an advocate for women in the workplace – within the leadership team, someone who will champion change, will help identify high potential diverse talent.
- Ensure the pay of your senior team is based on results. Since 2017, you’re likely to have had an obligation to submit your gender pay gap report, but are you analysing the statistics? And are you taking measures to address the gender pay gap and female career progression?
- Create a flexible working policy which supports, retains and engages women, who may otherwise become lost talent after career breaks and maternity leave. Most women opt for roles which fit around their families. And those who go back to work after a family or maternity break, often return to lower skilled, part time work which they are overqualified for. Making roles more flexible will help you retain talent within your business.
- Commit to supporting the progression of women in senior roles. Learned stereotypes and ingrained thoughts and beliefs are damaging to your business. By engaging with a specialist recruitment partner, you are widening the talent pool, reducing unconscious bias and achieving true diversity.
“Almost half of those who start a career in accountancy are women, and yet only 10% of the 4,914 partners in the top 60 firms are female. There are just three female finance directors among the FTSE 100 companies!
As we navigate the shift which 2020 has forced upon us all, we want you to remember…as a business owner, you have the power to change and contribute to a diverse society. The moral case for diversity is overwhelming, but the financial impact is simply good business sense.”
Garry Howling, Public Practice Recruitment Ltd
If you’d like to partner with us and let us support you in achieving your gender diversity goals – make the first step today.
Call 0333 577 7787