A new Women and Banking and Finance (WIBF) with the London School of Economics (LSE) report, found that women struggled if they did not perform consistently well.
This was compared to what they recognise as average performing men in the City of London, who are surviving in financial services in high numbers, for a number of different reasons, including social norms, retention bias, and a difficulty among women, especially black women to gain recognition on their performance at work.
In this study, suggested actions for firms to take to reduce the headwinds relayed by the women are identified. Equally valuable is information on tailwinds and ways in which they can be replicated or artificially constructed by firms to improve the growth and retention of women have been recommended. This has clear merit given that the first year of the WIBF Accelerating Change Together Research Programme is focusing on the “Missing Middle”. Reducing headwinds and augmenting tailwinds can help retain talent in the industry at this key vulnerable point in a woman’s career.
The study has strategically targeted women who are working in areas that have a high proportion of men, as well as those that have more gender balance but have what appears to be a glass ceiling.
