My Reflections: Overcoming Bias to Embrace Equity

 The past few weeks have been fascinating and definitely enlightening. As always, the entire world celebrated women for International Women’s Day which ends up being a month-long celebration. Don’t get me wrong, I’m all for anything that acknowledges the awesomeness of ‘Woman’ but I can’t help but feel some sense of tokenism about it.

I don’t like to dwell on the negative, so I’ve really given thought to what could be done to reach gender equity across several layers of life. It’s essential for me as a female finance professional to focus on equality and equity at the leadership levels in the industry. Also, to focus on the financial products and equitable solutions for business and wealth building. The more I think about it, the clearer it becomes as to how much bias exists around the issue of gender equity because even with the best intentions, the bias remains evident - from men and women alike. Here’s my thinking:

1. The Bias of Parenting Being a Woman’s Job

Historically, women have been regarded as the primary caregivers and nurturers in the family. This idea has been reinforced by societal and cultural expectations that women should prioritize their family responsibilities over their careers or personal interests. These gender roles are constantly reinforced by the media and institutional structures, such as the education and healthcare systems. Such societal pressures can make it difficult for fathers or other caregivers to take on a more active role in parenting, leading to the perception that it is primarily a woman's job.

And while all of this is happening, there is little support or recognition for fathers whom might be discouraged or even penalised when they take on a more active parenting role. Society often assumes that fathers are less invested in parenting and that they are not as capable as mothers. This notion is reinforced by the lack of paternity leave policies and workplace flexibility for fathers. Women may feel more comfortable taking on parenting roles as they have been socialized to do so from a young age, while men may feel uncertain or unprepared to take on these responsibilities.

Here are my two cents for ensuring equity for both parents alike. 

How about we stop calling it ‘maternal’ or ‘paternal’ leave and just call it ‘parental’ leave? If we change the narrative around these policies and the benefits that they provide, the bias begins to shift and we would likely see more men take this leave, thus providing better support to women. This really ought to be considered because the more men that are able to overcome the challenges of parental leave such as getting approvals, paid versus unpaid leave etc – attitudes and constructs will begin to change. With this would hopefully come acceptance and equity in the workplace.

1. The Bias of Work-Life Balance Being a ‘Woman Thing’

The fact that only women are asked about work-life balance can be attributed to gender stereotypes and societal norms. Similar to my previous point, women have historically been seen as the primary caregivers and responsible for managing the home, while men are expected to be the primary breadwinners. This has created the assumption that women are the ones who should be responsible for balancing work and family responsibilities. As a result, women are asked more frequently about work-life balance, while men may not receive the same level of scrutiny.

Sometimes, high-achieving women also work in jobs that have unpredictable schedules, require extensive travel, or are characterized by long hours. These factors can make it more challenging to achieve a work-life balance, especially when coupled with caregiving responsibilities. Consequently, employers perceive women as having a greater need for work-life balance support, such as flexible schedules, which can further reinforce the idea that balancing work and personal life is primarily a woman's responsibility.

I also have an idea for this!

How about adopting a hybrid workplace model for all employees? A hybrid workplace combines in-office and remote work to offer flexibility and support. Thus, employees enjoy more autonomy and are more engaged due to the better work-life balance. If work-life balance is an issue for women, then it’s an issue of life and should be addressed as such seeing as it affects everyone. Matters of equality and equity will only get better if men are expected to take up all manner of responsibilities, which will lead to increased acceptance by managers and organisations. Any type of responsibility required of a grownup should simply be seen as a part of being an adult, and a working person. Let’s normalise these things...

1. The Bias of Women Not Being as Ambitious as Men

The perception that women are less ambitious than men is a result of deeply ingrained societal beliefs and the value of women's contributions in the workplace. Women often face structural barriers, such as gender bias, discrimination, and a lack of access to resources, which limits career advancement and opportunities for leadership roles. These barriers can make it more challenging for women to achieve career goals and discourage them from pursuing ambitious career paths.

Stereotypes about gender roles can influence individuals' perceptions of what is considered "appropriate" or "normal" ambition for women versus men. For example, women who are highly ambitious and assertive may be viewed as "bossy" or "difficult" compared to men with similar traits who are seen as "confident" and "decisive."

For this one, I have a couple of ideas...

Organisations should clearly articulate the requirements of what makes an individual eligible for the company’s leadership programs instead of deferring to the subjective opinions of line managers. Make the process more formal and transparent. Share this information early in an employee’s career, so it can guide their workplace decisions and ultimately their careers.

Another idea is to initiate programs within organisations that enable people (men and women) to return to work. Think about it. So many people, mostly women, fall off the career ladder because they took time off work for familial responsibilities. Can you imagine the massive talent within that pool that could become such a valuable asset to any organisation? I think this would bring more equity to the workplace and even in entrepreneurship, as ambitious women who had to take time off work tend to lose their foothold when they re-enter the workforce. A good number of them launch businesses that begin as lifestyle businesses to accommodate their other responsibilities. However, when they are done with that phase of life and want to scale, once again the less-than-equitable reality of women getting less access to funding and financing takes them down several notches. I feel so strongly about this last bias in particular as I think it is the reason why it appears that financial institutions appear unable to crack the code of what truly women require in a product.

To this and the prior listed biases I say, could we all just put a little more thought into really overcoming the equity divide? Can you imagine a world where we just paid a little more attention to this kind of niggling issue and really applied thought instead of simply celebrating International Women’s Day every year as a band aid over a haemorrhage?.

Let’s not only embrace equity in March but embrace the thinking and solutions that would make the world a much better place for us all. The change that we seek is truly possible.

#IWD2023 #IWD #GenderParity #GenderEquality