The latest edition of the Women in Financial Services report from Guy Carpenter affiliate, Oliver Wyman, has found that the industry is finally making progress on gender diversity in the workforce. Mindsets are shifting and, as a result of hard work and commitment, progress is beginning to be reflected in the numbers.
The report argues that recognizing that the workforce is not the only stakeholder group to which a firm is accountable is key. There is at least a USD 700 billion revenue opportunity from better serving women as customers. Supervisors and shareholders are increasingly applying pressure on firms to embed stability and drive better returns through diversity and inclusion. And both individual firms and the industry as a whole have a responsibility and opportunity to improve gender equality in society more broadly.
This edition of the report takes a panoramic view of gender diversity across all stakeholders. This will lead to creative solutions in defining an action plan, embedding diversity and inclusion as part of business strategy, and calling for public commitment to gender equality in financial services. And in doing so it pushes the issue into the daily path of the CEO and executive committee.