The financial technology (FinTech) industry is growing, and based on current globalization trends and hacker threats, this industry is beating all odds. However, one of the main issues is a shortage of women working in the fintech sector. It is for this reason that WB21, a merchant banking platform, has launched a campaign aiming to change this narrative.
Perspective is the main reason for a diversified leadership or management team in a company. There is a wide range of customers in the FinTech industry. This makes it difficult for a team of all men to address issues concerning women who represent about 50% of global population. When women are included in the team, everyone has a clear vantage point. To this extent, women are a very important asset, especially when it comes to helping the company understand its gender needs better.
Even though there has been a noticeable increase in the number of leadership positions held by women in the technological and financial sectors, these women still face various challenges that do not portray a true sense of gender equality. For instance, most women who run global organizations have to delay pregnancy so as to be at level ground with their male colleagues.
After speaking to various women who are in leadership positions in the FinTech industry, WB21 found out that numerous hindrances still exist to bridge the gender gap. Majority of women are disadvantaged because technology and finance are typical sectors dominated by men. This means that women are likely not to be supported when they decide to become a mom. Sometimes, some of them are penalized if they decide to start a family.
Companies, such as Amazon, have started understanding and supporting women’s needs, as well as implementing plans that bolster motherhood. WB21 introduced “No Ask Questions, Pregnancy Package” as part of its commitment to make long lasting changes to support women.
The package has numerous benefits including:
- New mothers can stay and work from home if they wish during their pregnancy leave
- Breast milk can be shipped to a foreign country when the mother is traveling, and full compensation is given
- Mothers get an annual 10-day-off allowance, besides yearly vacation and sick leaves, break for their children’s milestones in life
- A 10-day allowance before birth for attending doctor appointments
- An option of Leave Share which include a partner (for those whose partners’ work place do not have a paternal leave policy)
WB21’sCOO, Abygail DeSousa said, “Women need to be honoured as they are the backbone of every economy. They are the child bearers of our future global leaders and should be supported in their careers despite their choice to be a mother.”
The package is designed, not only to support and encourage mothers, but to extend this support to their partners.
Women represent a large pool of untapped talent, therefore a company which does not acknowledge the important role of women is opening itself to a significant loss of money. As a result, advocating women in the workforce is a major opportunity, particularly in the FinTech sector where it is especially difficult to find such talent.
WB21 is optimistic that more women will occupy leadership positions in the upcoming years. The company has pledged to spearhead this campaign, and they are taking the initiative to hire more women. It is also important to note that the appointments and promotions will be based on merit consideration, while not just trying to bridge the gender gap. This is an important step that will help ensure that women’s positions are respected and valued.