Monica Eaton-Cardone Discusses Gender and Diversity in the Financial Technology Field
Global Risk Technologies™’ Monica Eaton-Cardone is an outspoken supporter of greater representation for women in the IT field.
However, despite her efforts and those of other women in the IT industry, a recent report by Astbury-Marsden showed that fewer than 10% of executive and board-level positions among the UK’s top 50 FinTech companies were held by women. Perhaps even more dismaying: that same report revealed that of those 50 companies, 69% had no female board representation at all.
In the article, Eaton-Cardone expressed her belief that gender diversity delivers all-around benefits. Her rationale makes sense: the more diverse a company is, the wider the range of thoughts and perspectives that body has to draw upon for driving innovation. As she points out, the benefits of such diversity are measurable and significant:
Most importantly, diversity is good for the bottom line. Research by Grant Thornton conducted with UK, US and Indian listed businesses found that diverse boards outperform all-male boards by a staggering £430 billion.
McKinsey’s research also revealed the most gender diverse leadership teams were 15% more likely to report financial returns above their national average. It also found that inclusion of ethnic minorities also has a profound effect on financial performance.
Eaton-Cardone suggests that the problem of homogenous leadership among FinTech companies is not one that can be handled with a top-down, governmental approach—rather, the best solution would be a program of encouragement and education.
We also need to lead by example today, creating more role models for women in technology to show that women are respected and capable of succeeding to the highest level…There is an opportunity to take part in an exciting industry where women can make a difference. We need to get this message across.
Read the full article here.
