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BMPS2024: Diversity progress is great, but talent pipeline is ‘fragile’

Shekina Tuahene
Written By:
Posted:
September 10, 2024
Updated:
September 10, 2024

The pipeline of diverse talent coming into the mortgage sector is “fragile”, Sian McIntyre, head of intermediaries and transformation at Barclays, said.

Speaking on a panel at this year’s British Mortgage and Protection Senate (BMPS) at the Brooklands Hotel, Surrey, McIntyre (pictured, right) said it was great to see many women at the event, but was reminded that the pipeline of people coming through was “very fragile” after recent exco (executive committee) resignations at Barclays: one man and one woman.

McIntyre said: “A woman leaving means we’ve lost a third of our exco, a man leaving means we’ve lost 10%. It’s fragile, even when women get there. The pipeline and fostering that is super important.”

Also responding to the question of what challenges the sector faced in trying to be more inclusive, Susan Allen (pictured, middle), CEO of Yorkshire Building Society, said technology would force the role of leaders to change and become more about coaching and developing people, as knowledge was no longer power but had become democratised. 

“We can get the knowledge, the thing that makes the difference is how you get the best out of individuals and that relies on really understanding people,” Allen said. 

 

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Not discouraging people 

McIntyre said when trying to be more inclusive and diverse, it was also important not to “disenfranchise the majority”. 

She added: “I had a young, white, middle-class man who had the courage – frankly – to come and have a chat with me about how he was feeling amongst everyone, talking about gender and everything else. And we had… quite a robust conversation, as I reminded him of privilege and the fact it wasn’t a zero-sum game, it’s okay to talk about some groups [that] need more attention than other groups. But it’s about talent, regardless of background.” 

She said disenfranchising people risked them becoming disengaged, and as they were often the ones making most decisions, it was key to encourage belonging and inclusion while having “uncomfortable conversations”. 

 

Healthy competition and attitudes at work 

Panel chair Oli O’ Donoghue (pictured, left), head of mortgages at HSBC, asked what role inclusion played in commercial success and innovation. 

McIntyre said it was the “biggest, most important commercial strategies organisations have if they can unlock it”. 

She said Barclays was in healthy competition with other lenders and this required “breakthrough” and “sometimes leapfrogging”, which “comes from difference”. 

McIntyre added: “When you think about innovation, it’s the fusion of difference. It’s something that didn’t exist before. 

“There’s something that comes from people with different backgrounds, different lived experiences, whether those are experiences outside of work or specialisms within work. When you bring that difference together, you unlock the power of people, it’s your biggest asset.” 

Developing an environment that was inclusive meant not excluding any group, allowing people to be themselves and making sure employees are happier, McIntyre said. 

She added: “You see an easy uplift because people don’t just come in to do what you’ve asked them to do. They care about what they do and are more likely to challenge when it can be better or when it’s going wrong.” 

McIntyre gave the example of a business development manager (BDM) who was fed up with a particular process that meant brokers had to fill in an 11-page document every time they changed rate. As the base rate was falling at this time, it became “increasingly problematic”. 

“She could have just followed the process, but she felt comfortable speaking up. She was agitated, she was impatient, senior leadership listened and now [the process] can be done in 10 or 20 minutes via chat. If your people are happy, they will go well beyond what you ask of them, and I think there’s an absolutely direct correlation with a better commercial outcome.” 

Allen said she remembered setting up a women’s network 25 years ago that had 40,000 members by the time she left, expecting there would be a breakthrough. 

“I’ve got a 25-year-old daughter and I still see some of the inequalities and challenges. But in that time, my mind’s been opened up to understand the challenges that other under-represented groups face.” 

Allen said there was a lot to learn from one another, adding: “DE&I is not a competitive sport. We should all care deeply about this fabulous industry being even more diverse and inclusive.” 

Speaking of encouraging a healthy work/life balance, Allen said this looked different to everyone. 

She said it was a “pretend thing” to believe it was possible to have the perfect balance of work and life, as people could be parents with a child, as well as have caring responsibilities and other commitments. 

Allen said: “I’ve never in my life had work/life balance. Things always feel slightly out of kilter, and what you have to try and work out is, ‘at what moments do I need to lean into my work? What moments do I need to lean into my family?’.” 

Everyone’s concept of work/life balance was different and it might be better to think about this in terms of “work/life fit”, Allen said. 

She continued: “How do we make sure that we can focus on the things that are priorities for us, and [remember that] my priorities will not be the same as somebody else’s?

“We’re all different people. It’s about trying to recognise that we all are different aspects in our life. And so flexible working and as a leader, being open, recognising there are things that are important to people in your team, that may not be things that are important to you is hugely important.”