IMLA ED&I Group: How we can accelerate action on gender equality – Lewis

The women’s rights movement spread and gathered momentum, but progress was not particularly fast. In the UK, it was not until the Sex Discrimination Act of 1974 that women were given the right to hold a bank account or a mortgage in their own name.

We have made great progress since then, but there is a lot more to be done before true equality becomes the norm, so it is very important we keep the conversation going.

This month, the IMLA ED&I Group marked IWD with a panel discussion addressing some of the live issues around equality in the workplace. 

Lucy Lewis (LL): The mortgage industry is no longer quite as male-dominated as it once was, but we are still lacking adequate female representation at a more senior level at most lenders and broker firms. However, our panellists have more senior women in their teams than most. Why is that? 

Charlotte Harrison, CEO of home funding at Skipton Building Society (CH): I have not made a conscious choice to employ more women than men – I simply want the most talented team I can put together, and ours just happens to be 60/40 women/men. Having said that, knowing that a supportive female leader is in place might encourage more women to apply to work with me – they know that they will not just be respected, but understood. I have many senior women in my team who have children and husbands or partners with equally demanding roles, so there is a lot of give and take. 

Sponsored

Aldermore Insights with Jon Cooper: Edition 9 – Why lending strategy is becoming more central in buy to let

Sponsored by Aldermore

Nicola McKenzie, co-founder of Dunham McCarthy (NM): I think there is an element of ‘you can’t be what you can’t see’ at play. When other women see a female leader in charge, that can be inspirational. As a company, we are heavily involved in social media, and it is my face out there representing the firm. And we do get a lot of female applicants whenever we advertise job vacancies. 

LL: Girls are often raised to be modest, not boastful or ‘bossy’. Do you think society’s expectations hold women back in the workplace? 

NM: It is very important to nurture and boost women’s confidence in the workplace. Women often hold back from applying for more senior roles because they don’t have 100% of the experience or qualities outlined in a job description, while men are more likely to put themselves forward despite that. 

Clare Beardmore, director of Legal & General Mortgage Club (CB): The alpha male has always been held up as the model of a successful leader. But I don’t want to be an alpha male, I want to be me, flaws and all, and I do not see why that should hold back my career progression. But I suffer hugely from impostor syndrome and have had to work very hard to overcome that. 

CH: It takes confidence to say I have my own shape and mould and that is how I will show up at work, rather than conforming to a stereotype. Let’s remember: many men don’t want to be an alpha male either! We should all be able to be our authentic selves at work. I have had sponsorship and support to break the mould and progress – and that allyship is very important. 

CB: The world is changing, and some of what was traditionally viewed as ‘feminine’ traits are now more highly valued in the workplace than they were. For example, EQ (emotional intelligence) is now accepted as being as important as IQ. 

LL: What can we do to get men more involved with the journey to greater equality? 

NM: We definitely require male input – you can’t bring about effective change without everyone being on board, men and women. 

CH: Storytelling is important – talking together and sharing our experiences. Every man has a female relative – a mother, sister, partner, wife or daughter – who has experienced discrimination or harassment. Telling those stories inspires passion to improve fairness and equality. 

CB: The younger generation will bring about change as they are more invested in equality than earlier generations. For example, my 22-year-old son, who grew up with two sisters and a full-time working mother and has just gone into the workplace, has a very different attitude to women and work than the typical white middle-aged male might have.

Gurpreet Chahal, corporate account manager at Accord: What can we do as allies to support our female colleagues? 

CB: There are many small but effective ways for men to be supportive; it’s not all about the grand gestures. Men who invite women into the conversation in a meeting, deflect appropriate questions from themselves to female colleagues and ensure women have their fair place at the table make a huge difference. 

LL: Do you have any advice for women who have recently joined the industry? 

CB: There are lots of groups you can join and webinars you can take part in, but I would recommend going to live events and making an effort to talk to whoever is sitting next to you, get their contact details, and start building your own community. Everyone has knowledge and experience of value to share in this industry, and most people are happy to do so. 

NM: I would recommend reading The Confidence Code by Kathy Kay – it was a game-changer for me. I also research the backgrounds of successful people in all sorts of fields and ask myself what I can learn from their experiences and apply to my day-to-day life. 

CH: Don’t try to boil the ocean – set yourself a series of targets, small steps and learning goals, and mark the milestones as you achieve them. 

LL: We all have a responsibility to connect with and encourage new people in the industry. As senior women, if we all made a pledge to speak to one new person at every event, that could make a big difference – and a lasting impression.