Women in Stockbroking - Guiding Principles for Gender Diversity
SAFAA's Women in Stockbroking Working Group was established to promote gender diversity.
More specifically, the objective of the group is to promote greater awareness of the need for gender diversity and provide support and guidelines that encourage gender diversity across the industry.
The Guiding Principles below are practised by a number of member firms. The principles are aspirational. The message is simple - firms that embrace gender diversity will outperform those that don't, because women will gravitate to the most enlightened firms.
Stepping up as Leaders
a. Create leadership teams that embrace and implement gender diversity - lead by example.
b. Publicly advocate and support change.
c. Actively develop, promote and advance inclusive leaders across your organisation by:
- Publicly talking about the importance of gender diversity
- Creating opportunities to discuss gender diversity
- Talking about the community expectation that at least half of your advisers should be women
a. Set granular targets and provide transparency and reporting on progress, measuring and assessing diversity statistics.
b. Hold your businesses accountable to targets and continue to monitor success.
c. Break entrenched patterns by encouraging leaders at all levels to live the gender diversity objectives of the firm.
d. Leaders should articulate the benefits women bring to their teams. Refer Which Two Heads are Better than One by Juliet Bourke. Published by AICD.
i. Set stretch targets for entry and leadership roles
ii. Provide support and education around gender diversity benefits
iii. Create working groups that assist with the vision and goals
Disrupting the Status Quo
a. Ask 50/50: If not, why not. Ask 50/50 across career life cycles, from recruitment and talent development to leadership teams, boards and panels.
b. Broaden your executive searches and challenge results in creating opportunities.
c. Encourage male leaders to act as role models and embrace flexible work practices (eg., pick up children from school)
d. Personally sponsor talented women and expect your senior executives to do the same. Ensure women get critical experiences in key roles.
e. Reflect on work patterns and "what it takes to succeed in your organisation". Change the presumption - ask why all roles can't be done flexibly as a starting point.
f. Encourage women to attend industry mentoring and networking events (so they're not embarrassed to ask!)
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