Accelerating action: Empowering women in finance, HR, and tech

The annual International Women's Day (IWD), which falls on the 8th of March, is one of the biggest employer engagement days in the calendar. It provides a perfect opportunity to consider women's workplace equality. The campaign theme for 2025 is 'accelerate action' #AccelerateAction. It emphasises the importance of taking swift and decisive steps to achieve gender equality.  How can companies accelerate action?

Women in tech

Attracting and recruiting women into male-influenced industries is difficult. The tech sector is one example. Despite the skills gap, the industry is dominated by men. Although women comprise 51% of the working-age population, they account for only 29% of the tech industry workforce, highlighting a significant gender disparity. According to the BCS diversity report 2024: Addressing the under-representation of women in technology, if gender representation in IT were equal to the workforce 'norm,' there would be an additional 550,000 IT specialists in the UK. This highlights that targeting women is an untapped opportunity for employers.

This would create:

• much-needed diversity in workplaces
• bridge the skills gap
• offer high-paying job opportunities for women

McKinsey explores this further. They suggest that if Europe could double the share of women in the tech workforce to 45% by 2027, its GDP could increase by as much as €600 billion. To remain competitive in technological growth and innovation, firms must recruit and retain women for the fastest-growing tech roles of the foreseeable future.

Moreover, only 8% of women in the UK's tech sector believe they receive equal pay for equal work, with women earning less than their male counterparts.

Our tip: Address unconscious bias in hiring by using skills-based recruitment and structured interviews to ensure women are fairly considered for technical roles and leadership positions.

Women in finance

As of Q4 of 2024, the UK's financial and insurance sector employed approximately 822,000 men and 611,000 women. This reflects a notable presence of women in the industry, though men continue to hold most positions. Progress has been uneven for females in leadership in the financial services sector. For example, only 11 out of 43 London-listed banks and asset managers achieved 40% female representation in leadership roles. Firms including Barclays, Rathbones, and Jupiter have reported lower percentages of women in senior positions. These statistics underscore the ongoing challenges in achieving gender parity within the UK's financial sector, particularly at senior leadership levels.

Companies are working hard to enhance policies and introduce new ideas into the workplace. The financial services sector has looked at programmes to encourage more female leaders, showcase female successes, introduce meetups and collect anonymous staff feedback. Some organisations have implemented returning-to-work programmes to help women return to their careers after parental leave.

Our tip: Implement sponsorship programmes, not just mentorship. Senior leaders should advocate for female talent, helping them secure leadership opportunities and high-impact projects.

Women in HR

As of 2024, women hold most positions in the UK's HR sector. Despite this, a gender pay gap persists, with women earning 87p for every pound earned by men. This reflects a median pay gap of 13.1% in favour of men, according to ciphr.com.  At entry level, women outnumber men by five to one. Yet, men constitute around four out of ten senior HR managers and directors. When it comes to leadership positions, only 33% of these positions are occupied by women. XpertHR data shows junior female HR professionals earn on average a little more than men (a difference of 1.2% or £223 at entry level.) Among established HR practitioners at the mid-level of their career, men typically earn between 1.6% and 3.4% more. This indicates ongoing challenges in achieving gender parity at senior levels in the industry.

Our tip:  Embed flexible working policies as a core strategy, ensuring they apply at all levels, to retain and advance female employees. Lead by example: Regularly review and publish gender pay gap data to identify disparities and take action. Being transparent about salary bands and promotion criteria ensures fairness and helps build trust among female employees.

Women in leadership

Since the 30% Club's launch in 2010, female representation on UK boards has grown. According to the FTSE Women Leaders Review, as of January 2025, women held 43% of board positions in FTSE 350 companies, surpassing the 40% target ahead of this year's deadline. However, the appointment rate of women to leadership roles still leans in favour of men, with more than six out of every ten vacancies in the year awarded to a man.

The report also states that more work is needed to boost women's representation in leadership roles. This progress underscores the effectiveness of initiatives like mentoring and women's networks in strengthening the female talent pipeline.

In contrast to countries including France and Belgium, Britain does not have a mandatory quota system for women on boards at publicly listed companies, but its rules say these firms should have at least 40% female representation.

Tips to accelerate action

• Use clear, jargon-free job adverts to reduce bias. Studies show men apply with 50% of the required skills, while women, if they meet over 80%.
• Is there an overly macho or long-hours culture that might disadvantage women?
• Interrogate the data. Consider every stage of the employee lifecycle to ensure that people management practices are fair and inclusive.
• When writing a job description, a pitch, or any other marketing materials, use gender-neutral writing. Research shows that stereotypically masculine words or phrases can keep women from applying for jobs.
• Highlight the workplace achievements of women.
• Ensure flexible working is embedded in company culture, not just a policy. Hybrid, part-time, or job-shares can help attract and retain women, particularly caregivers.

By implementing these actions and learning from success stories, companies can drive progress. Taking deliberate steps today will help accelerate action this IWD and beyond.