The 'alpha-male' culture that exists within the finance sector must be abolished to encourage the progression of women to senior levels.
That is a conclusion of a newly published report from the Treasury Committee, which claims that culture is the overwhelming reason why women said they do not want to get involved at the senior levels of the financial services sector.
According to the report, the alpha-male culture in some organisations is evident in bonus negotiations, where it's perceived that men argue more forcefully for bonuses than women. This can result in higher rewards for men, and acts as a deterrent for women.
The Committee makes a number of recommendations on how the culture can be changed, including:
“The benefits of gender diversity are highlighted in the report, including better financial performance, reduced groupthink and more open discussions,” commented Rt Hon. Nicky Morgan MP, Chair of the Treasury Committee. “The next step must be for firms to set out how they will abolish their gender pay gap and support the progression of women. Firms should focus on changing the culture in financial services firms, which remains a deterrent for women, especially the bonus culture.”
Our employment law team has many years of experience advising on a wide variety of complex and sensitive City employment issues, and our expert employment lawyers are ideally placed to help. So, if you find yourself facing dismissal, or subject to discrimination or harassment, don’t hesitate to get in touch.
Contains Parliamentary information licensed under the Open Parliament Licence v3.0.
Our experts can help
Contact UsContact us for immediate confidential advice. Out of Hours and Weekend help available
It would not be an exaggeration to say that I was extremely pessimistic about being able to get a decent redundancy settlement. I was feeling really low and depressed. That all changed when Caroline Walker agreed to act for me.She secured an excellent settlement for me, without me having to face the expense and stress of going to court...
- Martine Roberts"I cannot recommend you highly enough. A law firm that really delivers all it promises. I never thought I would say that I found the costs reasonable, but I did, and I will never get over how much you secured for me in a totally unexpected settlement. It has set me up for the next chapter in my life. Thank you, thank you."
- J. Brown"I would like to thank you for your exceptional service. You and your firm Cavendish Employment Law have been brilliant in your responsiveness and legal advice. We have had numerous time sensitive and complex issues. You always delivered for our company in spite of very challenging timelines. I highly recommend you and your firm."
- John McVeighIt would not be an exaggeration to say that I was extremely pessimistic about being able to get a decent redundancy settlement. I was feeling really low and depressed. That all changed when Caroline Walker agreed to act for me.She secured an excellent settlement for me, without me having to face the expense and stress of going to court...
- Martine Roberts"I cannot recommend Caroline more highly. Any client of hers is really fortunate to have her on their side. She is a credit to her profession and I am most grateful to her."
- Jake Brown