SINGAPORE, March 19, 2019 /PRNewswire/ -- Money20/20 today announced the results of its second industry-wide diversity survey, used to gain a greater understanding of gender dynamics and perceptions across companies in the Asia-Pacific region within the Financial Services ecosystem.
This research is part of the Money20/20 programme Rise-Up, a global initiative with local perspective, designed to provide support and provide actionable skills for women looking to take the next steps to increase seniority within their careers. The surveys are run to track over time whether the industry's talk of change is resulting in a more inclusive environment. Money20/20 Asia is proud to host its first regional Rise Up programme at 2019's Money20/20 Asia event, hosted in Singapore this week (19-21st March). This exclusive program will expose participants to contacts, mentors, executive training and learnings that will catapult their career to the next level.
The survey polled 191 professionals, mainly mid- to senior-level, in the Financial Services industry across APAC, with respondents sharing their attitudes towards gender diversity and inclusivity in the workplace.
Results showed that although it is widely recognized that companies with more diversity and gender equality outperform those with less, women in Financial Services believe that the current state of gender equality in the industry still has a long way to go. Additionally, they are less likely than men to believe change at senior levels is going to happen quickly.
The survey found that women and men share views on what the key gender equity issues in the workplace are, including leadership and pay equality, but they differ in their views on the extent of the issues and how they can be remedied.
The opportunity for companies that embrace inclusion is clear. McKinsey & Co[1] found that advancing women's equality in the countries of Asia Pacific could add US$4.5 trillion to their collective annual GDP in 2025, a 12% increase over the business-as-usual trajectory.
Respondents to the Money20/20 survey believe that the most impactful changes to improve inequality would be to hire and promote more women; acknowledge the existence of and address the issue more directly; ensure quality of opportunity, pay and respect; and provide mentoring programs to guide women into senior roles.
Money20/20 is proud to help facilitate this conversation and work toward meaningful change through the Rise Up program.
[1] The Power of Parity: Advancing Women's Equality in Asia Pacific, McKinsey & Company, April 2018. |