Senior Partnerships Adviser
The Financial Services Institute of Australasia (Finsia) has released the results of their survey into the ‘Significance of the gender divide in financial services'.
The survey of 1,298 respondents measures attitudes to pay equity and transparency, gender composition at senior executive and board level, workplace flexibility and cultural perceptions about the role of working parents.
When participants were asked whether their organisation was transparent about its remuneration system and parity of pay between gender 51% of men agreed and 65% of women disagreed.
Similarly, when respondents were asked whether they felt the gender pay gap in financial services was grossly exaggerated 46% of men said yes and 53% of women said no.
This year, a new question was introduced to the survey to test how men and women view the new reporting requirements administered by the Workplace Gender Equality Agency. The results show that 42.9% of women and 34.7% of men either agree or strongly agree that these reporting measures will prompt organisations to address gender inequality issues in the workplace. While 32.9% of women and 39.6% have taken a neutral stance to these measures, this report suggests this may be evidence of a ‘wait and see’ approach as the first tranche of publicly reported data will be available in November 2014.
Download a copy of the Significance of the gender divide in financial services.