Why does the industry need more women?
Despite immense progress towards diversity, the reality remains that there are still relatively few women in senior leadership roles and even fewer minority women. This means that women often lack the natural mentorship and sponsorship that tends to take place at the middle and senior levels, necessitating that they work harder to establish their own support network.
Women, as the minority in the finance industry globally (regardless of country and geography), are the universal diversifier.
The 2016 CFA Institute study on "Gender Diversity in Investment Management" suggests strong business and values-driven support for greater diversity, in which gender diversity is key.
Diversity matters because diverse groups of people bring different perspectives to problem-solving. Industry participants now acknowledge the importance of gender diversity, and the importance of work structure and flexibility in attracting a diverse workforce.
While reasons driving firms to seek greater diversity may differ, an effective understanding of workforce composition and motivations are critical contributors to the collaborative cultures we need in the investment industry.