"While it is important to recognise female talent and their achievements in any industry, it is arguably even more important when it is quite as male dominated as financial services."
With this in mind, we asked some of our colleagues at more2life and our partners about why these awards are important and what it means to be a woman working in financial services today.
Our third interviewee is Caroline Righton, director of commercial finance at Key Group.
FR: Why are the Financial Reporter Women’s Recognition Awards important?
While it is important to recognise female talent and their achievements in any industry, it is arguably even more important when it is quite as male dominated as financial services. Not only does it give those in the industry something to aspire to but provides future generations with role models who can clearly show that you can overcome any obstacles to get to where you want to be.
FR: What is the most frustrating stereotype that you have encountered in financial services?
That as a mother you cannot be as career focused or as successful as your male counterparts. Women often do the bulk of the child care and it is harder with young children to work late at the drop of a hat but it is not impossible - especially if you have a supportive partner. We need to move away from the stereotype of either the superwoman who can do everything at one end of the scale or the mother who is happy to have her career take a backseat at the other. Each person is different and should have the right to make choices around their career without being stereotyped.
FR: What positives do you believe that greater diversity would bring to the industry?
Group think – even in the highly organised and structured world of finance that I operate in – can be stifling. Different perspectives and opinions will help enhance business performance as rather than simply accepting the status quo, people ask questions which encourages everyone to think about what they are trying to achieve.
Greater diversity will help the industry develop, grow and attract talent from outside the industry. Social capital is an interesting idea – simply put, it is the social and professional network of relationships you have which help society to function. If no one in your network has ever worked in finance, why would you consider this a worthwhile career? With greater diversity, future employees will be motivated by those who have been successful and see financial services as having huge opportunities.
FR: What do you think financial services companies could do to better engage with women as customers and employees?
They need to listen and engage with employees as well as customers. How many sales meetings have you sat through being told what you need or you want without someone listening to your answers? This has never worked for me so I think businesses need to listen to what is being said and understand what actually motivates the people they want to influence - taking into account their aspirations and challenges.
FR: What headline on diversity would you most like to see in Financial Reporter?
'Diversity is now the rule in financial services rather than the exception!'
