he gender pay gap remains a hotly discussed issue across much of the business world, and it is no secret that financial services continues to be among the industries most in need of immediate work to close this gap. The good news, however, is that there is strong evidence to suggest female- workforce participation in financial services is now growing faster than ever, particularly at the senior end.
Source: Oliver Wyman | Representation of women on executive committees and boards in major financial-services firms globally However, Oliver Wyman’s research also clearly showed that significant gender imbalances remain deep-rooted, and thus much of the industry’s work in achieving true equality still lies ahead of it. “Most roles occupied by women on executive committees continue to be within corporate functions,” the report acknowledged. “There has been some improvement in the representation of women leading revenue-generating businesses—those most likely to provide the next generation of CEOs.
So, until this final convergence is achieved, how can progress continue to be made? One solution for addressing the gender pay gap, in particular, is to begin linking pay to environmental, social and governance measures, which are already gaining traction across a number of industries.
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