Creating a more diverse banking and finance workforce

At a senior level, there are far fewer females than males in the banking and finance sector. In recent years, more companies within the sector are recognising that diversity is essential to creating a successful workplace.

To find out how companies are overcoming this challenge, we spoke with Ami Fakey, Senior Partner at Huxley. She shared her insight on what companies are doing and how Huxley are working with them to improve diversity and inclusion in the sector.

Creating a diverse workforce

A recent study by Harvard Business Review revealed there was an unconscious bias when it came to successful candidates. Gender and nationality seemed to have more of an impact on a person’s success than their skills and experience.

However, this isn’t what we’re seeing at Huxley. Organisations within the banking and finance industry are aware that diversity is an issue and are doing everything they can to improve.

“It’s important to create a diverse and inclusive working environment – especially if you want to succeed. More and more clients are realising this and coming to us for help, because they know we’ll put forward a diverse shortlist of the most suitable candidates,” says Ami. “We listen to feedback from clients and candidates; we want to understand the issues being faced and help people overcome them.”

The diversity and inclusion initiative

Five years ago, we introduced our diversity and inclusion (D&I) initiative after realising consultants were unintentionally putting fewer females forward for roles. Designed to help both clients and candidates better understand the benefits of a diverse workforce, the training has proven incredibly successful.

“Since implementing the D&I training, Huxley have been monitoring female submissions and are proud to announce we’re now putting forward more female candidates than before. And because of the support our consultants give, when candidates are offered an interview, they’re up to 10 times more likely to be placed in roles,” explains Ami.

Providing a more complete recruitment service

Here at Huxley, we hold roundtables and training sessions to ensure everybody involved in the recruitment process understands the benefits of diversity and inclusion. As a result of the on-going training, we’re able to constantly improve the services we provide. Clients can get advice on how to ensure their recruitment processes are inclusive, and consultants are more aware of the best ways to attract, prepare, and support all candidates.

“We’re doing all we can to ensure both clients and candidates get a complete recruitment service. There are certain standards we work towards in order to improve diversity, and we work with clients to make their recruitment processes more inclusive,” says Ami.

Predictions for diversity in banking and finance

When speaking of the future, Ami predicts bigger and better things. When asked if she thought diversity will improve in the next few years, Ami said “I hope so. It’s the right thing to do. It’s time to start focusing more on what people can bring to the table, instead of their gender, nationality, or background.”

By placing the right people in the right roles, we’re able to help clients and candidates become more successful. We provide a solution for clients looking to improve their diversity and inclusion. If you’re looking to recruit in the banking and finance industry or want to improve the diversity of your workforce, contact us to find out how we can help.

 

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