To overcome gender-biased stereotypes and preconceptions in the workplace, concerted efforts to embrace diversity and inclusion should be a non-negotiable hallmark of corporate strategy, highlights international banking group Standard Chartered Africa and Middle East financing and securities services operations head Maria Jenner.

“The financial services industry has a responsibility to serve a highly diverse society, which can only be done through it having a diverse workforce, empowering the companies in this sector to provide inclusive access to, and servicing of, financial products. We need to lead from the inside,” she asserts.

Jenner places great value in learning from capable and astute female luminaries in the sector, adding that female executives inspire and uplift the current and next generation of women working in financial services.

“When I started in the industry 30 years ago, women role models were rare, whereas now we have incredible, inspiring South African women role models like financial services firm Standard Bank Group COO Margaret Nienaber, bank holding company Firstrand CEO Mary Vilakazi, insurance company Hollard Group Risk CEO Angela Mhlanga, investment management and solutions company Sygnia Limited CEO Magda Wierzycka and many more,” she highlights.

Jenner adds that finding the right mentor in any sector is akin to “earning a gold medal” and cannot be understated. Standard Chartered Bank not only makes an active effort to monitor female representation in hiring and promotions, but also pays attention to the progress of mentoring and sponsorship schemes through which it aims to raise the number of women in senior leadership.

Challenges

The requirement of addressing and normalising the physical and psychological realities of women in the workplace is key, especially as women actively contribute to this profession throughout the various stages of their lives.

Jenner says women’s health remains under-discussed in the professional sector, which is overdue for a “major conceptual overhaul”. She cites, for example, that menopause “remains a loaded, taboo word that is still spoken about in hushed tones in many corners of society, despite it affecting many women who are conditioned to hide the challenges that come with this process”.

Standard Chartered Bank has consistently provided support towards improving the wellbeing of its female employees with initiatives including the Wellbeing of Women Menopause Workplace Pledge, which introduced comprehensive menopause support, including access to mental health assistance and medical resources such as hormone replacement therapy.

Jenner says more companies should formally recognise the experiences of women at different stages of their careers and ensure that they are valued and supported “every step of the way”. Policies that enable partners to provide support in parenting are equally critical and Standard Chartered Bank has a paternal leave policy akin to maternity leave benefits. Additionally, flexibility is an increasingly important requirement, especially in South Africa, where there are many single-parent families. Standard Chartered Bank has fully embraced flexible working, enabling all employees to make sensible and responsible decisions on balancing career and personal lives.

Companies with diverse boards are at the forefront of progressive policies that address social and environmental issues while attracting and retaining talent, and are proven to deliver solid bottom-line results and real value.

“The workplace is transforming and the glass ceiling has indeed been shattered by many incredible women, but as we look upwards, there are several more floors to go before this ceiling disappears for good and the workplace is equalised.

“I am proud to acknowledge that this industry is vastly different to when I joined it and it’s inspiring to see women rising within it. I am grateful for the many people who have trusted me and mentored me. I am committed to mentoring women and men to break senseless boundaries and continue the journey towards true equality, in an industry that has seen many women overcome insurmountable challenges, and where kindness used to be seen as a weakness,” Jenner concludes.