Nicola: [00:00:00] Hello. Um, welcome to today’s podcast. You are listening to, uh, women at the top of telecoms and tech, and I’m really excited that you’re here. So huge. Welcome. Um, I am your host, I’m Nicola Buckley, and I work with organizations within telecoms and tech, um, to help them recruit. Retain and develop women at the top and future talent to close the gender pay gap and also create more inclusive and diverse cultures.

So huge. Welcome to the show today. If you are new to the show. Just remind you. I would love you to share a podcast episode with someone you think it might help. Um, I would love you to leave us a review because that’s how more people can find us. Um, or I would love you to leave us a rating. So again, that gets us back up to the top of the podcast chart.

So more people can find us and we can really help more women across organizations really, um, just [00:01:00] become. Key to telecoms and tech. So today’s episode, we’re gonna be talking about something that I am really passionate about. It’s at the heart of the work that I do within my coaching business, my coaching and consulting business.

Um, and we’re gonna be talking about today, the Ben benefits of gender equality, um, and really at the moment, where are we? So just to really introduce the topic today, We have made huge progress. There’s been huge change over the last couple of years that are really supporting women. So things like flexible working, uh, policies around compassionately for, um, miscarriages and also men, more men menopause support.

Um, so there’s a lot more things in place, but that’s off the back of. Really going backwards during lockdown. So the story for women through lockdown is that women tend to step into the breach, more tended to carry more of the [00:02:00] invisible load at home. So juggling huge roles at work with homeschooling, um, with keeping things ticking along at home and all of that invisible load goes with it, which actually meant the gender pay gap went from 100.

It actually went back up to 136 years. So what that means, if, if everything carries on the way it is now within organizations, the gender pay gap will be closed within 136 years. So we’re not talking about us and our generation. We’re not talking about our children’s generation. We’re not even talking about our children’s children’s generation.

We’re probably looking at our children’s children’s children’s children’s generation to close the gender pay gap, um, which is to me. Kind of mind blowing, given where we are in society, given that real focus on diversity and inclusion, not just cross agenda, but across all different types of minority groups.

Women are still routinely underpaid compared with men when filling the same roles. [00:03:00] So if you actually look at the statistics, um, I just come back to the statistic. I use a lot, which is that there are more men called John, um, as CEOs within 5,500 companies than that are women at the top. So you’re more likely to work for an organization that is run by someone called John within, uh, UK Europe.

Then you are to have a woman at the very, very top. Um, we still have that 136 year gender pay gap. So that’s, like I said, actually increased over lockdown because women really took on a lot more of that invisible load really stepped into the breach and just kept things going and just gave so much of themselves that it just, it left a many women burnt out and exhausted.

Um, um, and we routinely see that major issue. The gender pay. Um, reported by the world, economic for forum and just highlighting that women are all too often [00:04:00] and quite routinely underpaid compared with men filling the same roles and that can actually equate to over a career lifetime that can equate to being paid $1 million less.

Which kind of blows my mind. Um, because if you are, you’ve put in probably more effort, you’ve given it more focus. You’ve made more sacrifices that you might potentially do as a woman. And obviously every woman’s, um, position is different, but you might well have done that. And that continual need to demonstrate that you could deliver, demonstrate that you are meeting your objectives, demonstrate that you are not only doing your role, but you’re doing it even more than your.

Yeah. Even with that still routinely underpaid compared with men and even despite, um, different sites where you can now compare salaries. It’s just this real, um, salaries is not something that discuss much and it’s not something that’s easy to compare. So there’s one famous incident. This was at the BBC where at one [00:05:00] stage male employees routinely were earned 9.3% more than their female CA counterparts.

And actually one landmark case of male presenter earned more than seven times, as much as a female presenter hosting a similar type of show. Um, So, yeah. So where are we now in the world? This is where we are. Um, and in my experience from what I’m seeing in organizations is such a huge appetite to change that it is time to change.

We’ve been through so much change over the last two years within the corporate world, what was once a pipe dream of having flexible working across organizations is now for many organizations, just part of the routine, part of the structure, part of the benefits that employees have, employees are trusted to get on with their job, wherever they’re working.

Um, and like I said, picking in place policies to support people across organizations, going through huge life changes. So that could. Miscarriage [00:06:00] policies that could be menopause policies that could be returning to work policies that could be a caring, um, a caring policy around those that are caregivers at home.

And in this time to change, it is time to change. But many organizations is the work that I do really empowers women in organizations. And I love that. And I’m, I’m really proud of the impact that it has. And even in a recent review last. With an organization that I’m running a Fe a woman’s leadership program for them.

Um, even within the time that we’ve been working together, um, there’s been three promotions for women that have been through that pro program. So there’s proof of concept proof that it works proof that it makes such a difference, but I also run those programs hearing. At every meeting that there needs to be a shift in culture that there needs to be a shift in attitude.

There needs to be more awareness and an understanding of how someone’s behavior can impact on another person. And like I said, we are [00:07:00] specifically talking about gender here, but that applies across all minorities. So is this something that you said that could be taken in the wrong way by. Uh, someone of a different gender, could there be something that you said that could be, um, taken in a derogatory way, someone from a different ethnical background?

So it’s just really, for me, if we are looking at really driving. Gender equality also leads into how do we create a more inclusive workplace? How do we help people within different minority groups to feel safe, to feel heard and to feel that they are an incredibly important part of that business. And they bring fresh ideas and they bring different perspectives, um, and they bring just a different understanding and view of the world.

That is so, so important. So what are the benefits though? So we’ve got this challenge with the gender. Inala in corporate organizations, especially within telecoms and tech. Um, and in my [00:08:00] experience, it’s still very alive and very real, um, even down to women being asked to flatter their eyelashes to get deals, even with women being asked to take notes in meetings, even with women being told that it’s, um, they’re being over emotional, they’re being a bit irrational.

And if they’re upset, you want to go and sort yourself out and then come back. Even being talked down to this way, which is where it is shown that there’s need for a culture shift. But with culture shift comes huge implications of time, of investment, of energy, um, of really needing to shake things up and change things.

But maybe there isn’t such a want to change. So what I want to do today is outline some of the benefits of gender equality in this telecoms and tech world to then really lead into. Needs to go from gender equality needs to change from being a nice to have in my mind. It’s no longer, nice to have is a need to have.

And actually, if it’s something you are not looking at, [00:09:00] it’s a, it is a competitive disadvantage. And if we look at the customers of tech and telecoms world, if we focus on telecoms for a moment, women will make a lot of those decisions. Women will make a lot of decisions. For example, around the broadband provider, they’ll make a lot of decisions around which network, um, therefore they have huge buying power.

So if you are not represented at the very top, you’re not gonna understand a huge element of your core market. So for me, this is shifting away from, like I said, a nice to have to an absolute need to have. If you’re not focusing on gender equality in the workplace, you are actually going to be at a competitive disadvantage.

So let’s get stuck in. So I’m gonna rattle through these, but I’ve made a huge list. So I’ve tried to narrow it down to 10. So the benefits of gender equality in the workplace, um, And just to quote, to start us off, equality is not a woman’s issue. This is not just with women, it’s a business issue. [00:10:00] And like I said, This is really gonna be a point of different for organizations with markets being so competitive with markets being so fast, moving with, um, phones that are available to all different organizations.

There needs to be a point of difference. And this might well. This can well be the point of difference for an organization, um, with millennials and gen Z, just being more demanding than ever for them, that it needs to be a purpose that needs to be a cause they need to feel heard. They need to feel supported.

It’s not just about the salary. So this could make a huge point of difference for retaining for initially. Recruiting. And then also retaining the very top talent in the future generations that are gonna be the leaders of tomorrow. So let’s get stuck in. So benefits of gender equality in the workplace.

Number one, number one is simply that it will lead to a better economy and improved economy. So women’s span. Double the amount of time as men on unpaid works such as caregiving [00:11:00] household task. So this stops from sometimes from participating fully in the economy and add to that the gender pay gap. And you there’s a really, there’s a, a latent spend there waiting to happen.

So McKinzie estimates that the, that there were more women to be able to fully participate in paid work and earn pay that could. 28 trillion, the Bible debt gross domestic product in America, which obviously has an impact across the world. And that would be a 20% increase by 2025. And that would also then contribute to a company’s profitability that would flow through to the bottom lines.

Um, and another McKinsey report showed that increased gender diversity should improve profit profitability by 21%. And when companies are maybe struggling to make a profit. As the markets become tougher and tougher. This is again, that point of difference. You are going to have shareholders that are more [00:12:00] supportive of you.

You’re gonna be able to have a, a really positive annual report. That’s gonna help you stand up in the market and demonstrate huge growth. So. That gender equality. Isn’t that nice to have. It’s a competitive advantage that it just hits on your bottom line. So number one is a better economy. Number two is improved productivity.

So gender equal workforces work better in many ways. And one of the major benefits has been identified, um, is a more. Cohesive and more connected and a more productive workforce. So this came from a university of Greenwich study, suggesting that providing more childcare, more flexible working. Uh, would free more skilled women to return to work, which is hugely good for pro productivity.

So I work with some organizations on supporting them with helping women, but also men that are returning to work after a period of time away. So that could be maternity cover. That could be someone coming back from caring. That could be [00:13:00] someone coming back from, um, education, taking time out for education or someone that’s coming back after a bereavement.

But the focus there is on women returners. Again is a huge untapped talent pool that at the moment is latent that at the moment, maybe isn’t the best use in women, women assuming themselves that they’re gonna come back to a smaller role, but also being an assumption made that they’re not gonna be as focused on their career now that they have children.

And yet every case is different and every woman is different. And what’s been incredible is I’ve spoke to a lot of women at the very top of telecoms over the last few months with my white paper. Um, interviews. And as part of that, these women, they’re not, they’re not successful because they’re women they’re successful just cause they’re brilliant leaders.

They’re incredible leaders that want to, that have amazing support at home that are likely to be the breadwinners. Um, [00:14:00] and they’re also seen as people, they deliver time after time after. And the fact that they have children, isn’t a focus. It’s not something that’s questioned because they’ve always delivered.

Um, and actually what they want to, what these women talk about a lot is actually they want to be that incredible role model for their children as well. So it’s that improved productivity. And also according to multiple research studies, diversity of opinion, because you have those different gens, you have that different approach leads to a more holistic approach and therefore higher achievement.

And those gender equal workforce are more like to have that varied perspective, different views, a different way of seeing the world that is gonna result in better decisions, because it’s gonna be more input and more just really just looking at making sure that the right decision is made, but it’s gonna include having explored those different perspectives.

So number two is increased, improved [00:15:00] productivity. Number three is increased growth and innovation. So Accenture, um, has done some research and they believe if companies want to grow, they also need to innovate. So especially with markets like telecoms and tech, so fast moving, um, this whole organizations within these huge corporates.

Now that focus just on innovation and what’s. Um, and workplaces that have a culture equality, um, exponentially increase their ability to innovate, um, and to just have that richness of ideas, um, and an empowering bias for in supportive gender equal workplace leads to an innovation mindset. At least that willingness to put ideas out.

It pits out it’s that willingness to put ideas out, even if they don’t, you are not. Positive, at least you can, you are still feel heard. So knowing that it’s safe to speak up is safe to share your ideas. That you’re just gonna speak up and [00:16:00] share something that’s on your mind or new innovation, or go away and research and know that it’s not just gonna be pit.

It’s not just gonna pit by the wayside cuz you’re woman, but actually it’s, it’s really encourag. Key aspects of that innovation mindset are willingness to get inspiration from beyond the organization to work across the organization, to be willing to experiment. So within that, it’s really important that people feel safe to feel heard and to speak up.

Um, and according to Accenture, that. Focus on innovation that innovation mindset has potential to add 8 trillion to the us economy by 2028. So a lot of this research is based in the us, but it runs across all, all companies and organizations. So if innovation mindset in all countries was raised by 10%, that would increase, um, the us economy by 8 trillion by 2028, which is kind of line blowing.

I’d love to know what sits behind that report as well. Just, I, I geek out on [00:17:00] stats like this. Uh, number four is diversity of view. So within that same Accenture report also promotes the value of diversity of views to business culture. So if everyone looks the same and speaks the same, if they have the same background, they’re gonna have a similar voice, then there’s gonna be some blind spots.

There’s gonna be things you that you don’t see, or you don’t. Um, so that more diverse approach gives the company the chance to benefit from views that are outside the norm. There people from a different background or from a different minority that are gonna have a different perspective. Um, and that’s another benefit of gender equality.

Bring in different perspective, bring in a different lived experience, having a different voice, someone that sounds different and looks different and has a different perspective is just gonna make sure that those blind spots, um, There’s some light, Sean, on those blind spots. Number five, another benefit of gender equality is more flexible working.[00:18:00]

So as I mentioned earlier, women around the world do the bulk of the unpaid caring. So they are the carry that invisible load, and that can really negatively affect their Korean income prospects. So a more flexible culture, whether that’s hybrid working, whether that’s key days in the office, however, that looks for an organization or an individual within that.

That can really help, minimize or eliminate that issue. Um, and it means that we can keep incredibly talented women within the workforce and they can come back into the workforce into a promotion. They can come back into a bigger role. If we take the example in Scandinavian countries, parental leave is shared.

And I know that’s, there’s also, um, a client of mine that recently. Her and her husband took shared parental leave. So they actually had, uh, four months off each. Um, and that is obviously creates that connection between mother and baby, but also father and baby. It means that woman can be very focused on their time at home, but then also know that [00:19:00] actually the father’s gonna get the same amount of time as well.

So that just brings a different perspective. It means it’s not just on the woman. They’re not gonna be out. Don’t need to be out. On maternity leave for so long if they want to. And it gives just such a great framework. Um, and really any everyone benefits from a flexible work culture and everyone could have more richest in their life by just really having the flexibility to work in the way that works best for them.

Um, and a survey by, by pow. Wow. Now shows that 81% of people say that flexible work will make a job more attractive.

And recent data from flex jobs showed that 85, 80 5% of business, a pro productivity increased with more flexible working. So again, it’s not just paying lip service to something it’s not just telling people they can work in a different way. There’s a huge benefit to this. Um, and employees are gonna feel more loyal, um, and just, you’re gonna [00:20:00] attract those very top candidates number.

So another benefit of gender equality is a more stable workforce. So when people feel excluded, when they’re the only one in the room, when the only voice that speaks up and says something different, and that has a different voice, they don’t, it’s very hard to want to stay in that business. Have to be those minority groups have to be very resilient.

They have to be very able to take things on the chin and just not, not take things to heart and take things so personal personally, um, so companies that are not gender equal run the risk of failing to attract or retain the best talent for individual roles. Um, and actually this is something that’s been seen again and again, within gender, um, gender equality work has been, are you looking at your job adverse to see what wording’s on there?

Are you looking on any, any collateral that’s sent out to potential candidates? Are you treating people like individuals? Do you make sure that you’re [00:21:00] always replying to individuals to give them feedback? Are you getting to them at the time that you said you would with, um, the next steps? Are you very clear on the next steps?

So it’s treating people like individuals within that and demonstrating that there’s already a very diverse workforce, so they’re not gonna be coming into the workforce being the only person. In that room and in that environment, which is obviously gonna be much more challenging.

Um, and as part of that as well, it’s really important to make it clear that. There are roots into leadership and management for people of all genders. And it’s not just for men, it’s not just for someone of a certain background. It’s not just for someone with a certain color of skin. Um, and that could be through leadership programs that could read through different networks that could be through, um, Sharing the story of role models within organizations have already put together a podcast whole episode about seeing us believing about the power of role models, [00:22:00] um, and just really helping people across organizations with training around unconscious bias, for example, to avoid and step past any assumptions or preconceptions or stereotypes they have about which gender is right for which role, but also.

Just about people of different backgrounds and different races and different minorities. And actually just opening that environment to know that you are hiring the best person for that job, regardless of any of the, anything that comes with that, this is the best person for that role. Um, and then you are laying a foundation for a stronger, more stable.

Number seven, uh, happier employees. So gender equality, isn’t just good for women. And in fact, as global women points out, it makes the whole workforce happier. And any steps you take to level the playing field for women levels it for all genders. Um, for example, flex jobs research, just to offering the chance to work remotely means employees are [00:23:00] 57% more likely to be satisfied with their jobs.

And 80% of employees are likely to be less stressed, which is absolutely huge. And gender equity means that men can assume roles. Normally go to women. Um, if those roles make them happy and vice versa, so it becomes a win. It becomes a win-win. So it’s making the whole workforce happier by setting frameworks in place to support women and other minority groups.

So things like the flexible working things, like the policies I’ve already mentioned around returning to work around menopause. Um, number eight, improve customer targeting. So it’s, again, it’s kind of mind blowing like within telecoms and tech, at least 50% of the consumer market is women. So if you don’t have women at that very top level, you potentially have a bias, a blind spot around.

Consumer purchasing and behaviors and demands and that whole process, um, and women are actually [00:24:00] responsible for 70 to 80% of consumer purchasing. Some researchers shown. So despite that in a typical workplace, women may not be involved at all in that very top level decision making about products, about launches, um, about development of what’s next.

And the strategy and the marketing strategy. So it might be that having a lot of men on the board means that we are talking to men and we’re selling to men and we are missing out this huge market. And again, this is where it becomes a competitive disadvantage to have less women in your organization. Um, and this is really a key demographic and you don’t want to succeed or fail based on having that blind spot.

So if you get women involved at all levels of your company, It’s easier for you to target this huge segment of your custom base effectively. You’re going to have people that know the lived experience, what they’re looking for, what do they make [00:25:00] purchase decisions about? How do they purchase, what research do they do?

Um, and that adds potential to make your company much more profitable in the long run. Number nine, so better quality of life. So really those benefits that we’ve talked about bringing in for support women and other minority groups around flexible working equal pay, um, diverse hiring. And that innovative co culture leads to a better quality life for all employees of all genders.

Um, men might find that they’re able to spend more time with their families and have a more balanced life. Um, women may find their contributions are more recognized and feel more fulfilled in their working lives. So these frameworks. Like I said, this isn’t just about creating that gender parity. This is also about making your organization a standout organization that people want to work for.

And that better quality of life is gonna be a huge selling point, especially with millennials and gen Z. Improve company retention. So number 10, [00:26:00] the final one, um, and more and more consumers care about company’s ethics and social responsibility. Um, and one of those things is around employment practices and being fair and being reasonable, um, and being honest and being open and report shows a report from Accenture.

Shows that 53% of consumers will complain when disappointed by a brand stance on a social issue. So it can positively detract from you as an organization. If you’re not demonstrating that you have really sound company ethics, very clear, you have a culture that is very positive. Um, embraces people from all different backgrounds and that you’re not a socially responsible company.

Um, and in addition, a quarter of UK consumers, won’t go back to brand after they’ve being disappointed. So as we’ve gone, if we go back to the beginning, so those are 10 key issues. Um, as far as I see around, um, creating gender, [00:27:00] um, equality and the benefits. So number one, that better economy, um, improve pro productivity increase growth in innovation, diversity use more flexible working.

A more stable workforce, happier employees, improve customer targeting and understanding better quality life for employees and improve company retention. So if you bring all of these together, Gender and quality isn’t just with women to sort out and resolve and to show that they can do have more impact and have more influence this.

Isn’t just with the board. This is with every single employee, and this is definitely a business wide issue. Um, and if your, your business has a reputation for promoting gender equity and diversity, um, and for supporting individuals of minority, so you’re gonna have that better reputation. That’s gonna help you attract those very top talent.

And also the right customers. So if this is something that you are looking for help [00:28:00] with, um, this is a huge part of what my organization does. So you can drop me a message. All my details on the show notes will have a call and see how I might be able to help you. But I would love to know what you think.

I would love you to share what you think are the benefits of gender equality and what you are seeing in the workplace. So, um, all my contact details are in the show notes, but yeah. Thank you for. And, uh, I’ll speak to you soon. Bye.