09 October 2024
Hilton Deansgate, Manchester
#WiCConference
60 Second Interview with...
Hannah Fitzsimons, Chief Executive Officer, Cashflows
1. In your opinion, why do you think representation should be more championed in the industry?
A: Firstly and most importantly representation should be championed because it's the right thing to do. Less than 5% of CEO's in the industry are women, with women holding only 21% of board seats and 19% of board seats and 19% of C-suite roles. Yet women make up 50% of global population.
Second, a more balanced gender ratio has a multitude of benefits. Research shows that inclusive teams make better business decisions up to 87% of the time. A study from McKinsey also proved that organisations with greater diversity have higher profits and retain longer-term value. The numbers speak for themselves.
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2. What advice would you give to the next generation of women in the industry?
A: I know how challenging it can be as a woman in a predominately male-dominated space - at too many points in my career, I have been the only woman in the room. To all the women of the next generation, we will continue to aim to break the glass ceiling so that you can follow behind us, we will continue to support your entry into male-dominated fields, and we will continue to try and inspire you.
But I also ask one thing from women of the next generation; don't rule yourself out of the next opportunity because you don't think you have enough experience. That's how you get the experience to succeed! Take every opportunity that comes and have confidence in yourself.
3. In your opinion or experience, please name 1-2 things that can be done by a) individuals b) companies and/or c) society to support the elevation of women in senior positions in the industry?
A: Individuals
For women who are passionate about supporting other women in the industry, taking part in mentoring schemes, speaking at conferences, and speaking to the media can enable us to leave the industry more diverse than we found it. Women in the industry should look to find ways to support organisations such as Women in Payments and TechSheCan which are both dedicated to changing the ratio of women in the industry and building a community where women can support one another. By supporting these non-profits, women can work together to achieve great success in their fields. Women can enter into senior positions, knowing they have the support of the brilliant women behind, next to, and ahead of them.
Companies to support the elevation of women in senior positions in the industry
Companies need to stand by their words with actions. It's all well and good for companies to communicate that they want more women in senior positions, but they need to make sure it happens. The approach will be different for different businesses - for some setting targets for diverse leadership teams will help them remain accountable to their values. Work need to be done to reduce invisible biases created by less obvious actions, such as men in senior positions not taking parental leave or failure to account for care responsibilities which disproportionately affect women when planning meetings or work hours. Companied should also be involved with charities that celebrate and champion women, like TechSheCan and Women in Payments, and ensure there is time and space available to employees to support these initiatives directly.
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