The issue of diversity and gender equality in the financial services sector has come under the spotlight recently, with financial firms being urged to sign up to the Women in Finance Charter and help end the era of women being underpaid, underrepresented and undervalued.
The call for more action came from Economic Secretary to the Treasury, Stephen Barclay, as he spoke at the recent Women in Finance Awards.
“For too long many women have been underpaid, underrepresented and undervalued compared to men and it is events like the Women in Finance Awards which rightly shine the spotlight on female excellence and achievement in financial services,” commented Stephen Barclay. “I want to congratulate all of the winners and I wish them luck for their future careers.”
The 'Women in Finance Charter' is a commitment by HM Treasury and signatory firms to work together to build a more balanced and fair industry, and reflects the Government’s aspiration to see gender balance at all levels across financial services firms.
Looking at the Charter in more detail, it:
By signing up to the Charter, financial services firms are making a commitment to implement four key industry actions:
According to the Government, over 120 firms have signed up to the Treasury’s Women in Finance Charter so far, covering over half a million members of staff – more than half of the financial sector staff.
As well as celebrating the success of women in finance, the Economic Secretary emphasised that firms should also think about improving different types of diversity.
“The Charter does not prevent firms focusing on other aspects of diversity, and if we are to meet the economic and political challenges ahead, we need a meritocracy which promotes diversity across all areas, including LGBT, class, and geography,” Stephen Barclay explained.
The Charter sits among a set of wider Government reforms to improve gender equality in the work place, which include the £5 million fund for ‘returnships’ announced at Budget 2017 and making gender pay gap reporting mandatory from April this year.
If you work in the financial services sector and have been subjected to discrimination or unfair treatment then contact our specialist employment lawyers today.
Contains public sector information licensed under the Open Government Licence v3.0.
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