CMI statement on the Treasury Committee inquiry examining the barriers faced by women in financial services

Ann Francke OBE, CEO of the Chartered Management Institute, said: 

While I'm encouraged to see the Treasury Committee calling for strong measures to help combat  sexual harassment and bullying in the UK’s finance industry, it's disheartening that we even need to still be talking about this issue - not least of all on International Women’s Day.

The string of recent scandals in the city tell us that there is a fundamental problem in one of the UK’s biggest industries - and very little impetus to make meaningful changes to tackle it.

If women are not fairly represented - and if managers, especially male managers, think that improving their gender balance is too much effort - that can translate into workplaces that are more vulnerable to the types of toxic behaviour that we've witnessed.

Currently, there is a ‘say-do gap’ across UK workplaces. While organisations and managers may often think and say that they are doing the right thing when it comes to inclusivity, this report is the latest piece of evidence telling us that women still face daily barriers to achieving their full potential in the workplace.

We need tangible actions to address the inequity and discrimination that prevents women from participating in the economy. That includes not just the measures outlined in this report, it also means embracing flexible working, creating a gender action plan, and introducing mentorship programmes, among other much-needed initiatives.