Hatfield, September 2021 – With the issue of equality in such focus lately – and female equality in particular – it’s no surprise that many companies are taking steps to address this important issue. And for the companies who have yet to get on board? To put it simply, says Jade De-Crescenzo, UK Finance Director forPayByPhone, it’s detrimental to businesses not to champion female team members.
According to the WorldEconomic Forum’s Global Gender Gap Report 2020, which explores a lack of parity for women and men, the length of time it will take to close the gender gap has risen from 99 years to 135 years. To bring it into sharper focus, a recent study by the Confederacy of British Industry found that the gender pay gap increased nearly eight per cent in the past year and is now an average of 18%.
That means there is no time like the present to empower women in the workplace. The good news for businesses is that it’s a smart business decision, with most research showing that embracing gender diversity improves business performance. One study, conducted by Harvard Business Review of 1,069 leading firms across 35 countries and 24 industries, found that gender diversity in a business creates more productive companies, as measured by market value and revenue. But the question remains: how can we empower females in the workplace?
Tackle unconscious bias
The most important aspect when tackling unconscious bias is knowing yourself. By doing this, you are in abetter position to identify subconscious prejudices or stereotypes that you may not even realise you have. In my company, PayByPhone, we did an in-depth personality profiling exercise, which has allowed everyone to understand more about themselves. The profiling results have enabled us to adapt to how we interact with each other, and it has been invaluable in discovering how we’re perceived by our colleagues.
For me, particularly as a female leader in a tech and finance position, the results have made me realise how aspects of my personality – such as by nature being more of a quiet, reserved person – could at times make me appear colder and less approachable. I began working on improving my visibility within the business, as well as my interaction with colleagues. That in turn helped me be less afraid to make bolder decisions.
Work against tired tropes
One of the best ways to promote gender diversity is not to indulge in negative, harmful stereotypes. Ask yourself, how do you perceive others around you? Do you make gender-based assessments? Or do you let people’s work speak for itself? I’ve had good and bad bosses of both genders, but quite often when female bosses exhibit behaviours that are simply strong leadership, they can be perceived as domineering or worse.
When women work together, people may use old-fashioned phrases such as “they’re gossipy”. Luckily, that’s not been my experience in my company, which has a good diversity of gender in our UK senior management – it’s about 50/50. Women work best when we empower each other, so it’s our responsibility to support and to build each other up.
Recruit creatively, train sensitively
Recruiting is an opportunity to address the gender gap and thinking outside the box when hiring can be beneficial to business. Women returning to work after taking time out to start a family is one example. They are most often the one who takes the longer break from work in these circumstances, so be kind about gaps in a CV. Take a positive approach and ask questions such as, “In your time off, what transferrable skills have you learned?” or “What support would you need to resume a similar role to the one you left?”. Often, with minimal or no re-education or training, women can get back into careers they loved. All they need is an employer committed to creating that opportunity for them to do so.
Be part of the solution
To give women, particularly those who are parents, an equitable chance, companies must also provide men the opportunity to take time off to be with children. This includes better paternity leave or the time to be the parent who takes on more childcare. That may sound counterintuitive when addressing the gender gap, but it sends the message that childcare is not the sole responsibility of the woman.
Companies should be working to identify where they can improve. But don’t let the time it takes a business to change stop anyone from playing their part. People often underestimate what their individual actions can achieve. As long as everyone takes an active part in the solution, then businesses will become fairer, more equitable places.
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Bio
Jade De-Crescenzo, UK Finance Director, PayByPhone, a wholly owned subsidiary of Volkswagen Financial Services AG, worked for several years as an accountant, including as the Group Management Accountant atPayPoint, before joining PayByPhone’s UK finance team in 2011 as FinancialController. She became Finance Director in 2018 andtoday leads a team that includes a Financial Controller, Management Accountant,Assistant Accountant and A/P & A/R Specialists, all of whom are based atthe PayByPhone UK headquarters in Hatfield, Hertfordshire. With a remit to help grow PayByPhone’s market share through rigorous financial management, Jade plays an active role in implementing PayByPhone’s ambitious plans for the future to simplify its customers’ journeys.
About PayByPhone
PayByPhone, a wholly owned subsidiary of Volkswagen Financial Services AG, is one of the fastest growing mobile payments companies in the world, processing more than £430million in payments annually. Through the company's mobile web, smartphone and smartwatch applications, PayByPhone helps millions of consumers easily, securelyand safely pay for parking without the hassles of waiting in line, having to carry change or risking costly fines. Registration is quick and easy, and the app reminds the user when their parking is about to expire, allowing them to top up from anywhere, at any time. In a commitment to the environment,PayByPhone became Carbon Neutral in the UK in 2019, then achieved CarbonNeutral Plus status in 2020, and was certified Carbon Reduced in 2021.
