Finance sector fails females

The majority (63.9 percent) of male and nearly half the female respondents to the survey said that the promotion and advancement of women into senior roles was priority in their organisation. But other findings in the research indicate that the reality has yet to catch up with the rhetoric. 

Meanwhile, the Bank of New Zealand has launched new industry body, Women in Financial Services, which will facilitate programme of events, policy work and other initiatives.

Finsia chief executive Russell Thomas said 69.9 percent of women are not convinced that their organisations are transparent about their remuneration systems and parity of pay between genders. 

Relatively high numbers of women (36.2 percent) also felt they were treated differently to their male colleagues, both in the workplace and in associated social or other work-related activities. 

Consistent themes that emerged were that the workplace culture often disadvantaged women by demanding long and inflexible working hours, and placed importance on sports (both watching and participating) and drinking that did not appeal to many women. 

Close to half of female respondents (47.8 percent) agreed or strongly agreed that the NZX should adopt similar reporting regime to that enacted by the ASX, compared to 29 percent of male respondents. 

Thomas said female respondents overwhelmingly reported that their experience of the workforce was different to men. They reported being disadvantaged in relation to promotional opportunities, treatment in meetings, training and development opportunities, pay and benefits, and inclusion in social and other work-related activities. 

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