BUSINESS INSIGHT
women. Accenture surveyed more than 28,000 women and men, including undergraduates, in 29 countries. At senior manager level, 41 per cent had studied
STEM or computer science during their undergraduate or working years, and continued to hone those skills. Career strategy is key for them and they have mentors, advocates and other support necessary to advance to senior positions. Fast-track women also work full-time (94 per
cent), and 74 per cent benefit from flexible schedule. The report also showed that motherhood does not necessarily slow a woman’s career, as 82 per cent of fast-track women are mothers. Overwhelmingly, working mothers were shown to
keep pace with digital skills and are often the first to try new devices and services. The report concludes that in an environment of
CBI 2017 Ms Wosskow explained, “We’re driven by a desire to combine
profit with purpose. The mission is about making the UK the best place in the world to be a working woman because currently the situation is pretty dire – last year only 2.17 per cent of all capital globally went to a female CEO. On the other side of the table, only 7 per cent of investors are women. In spite of all of this, women get great returns; better returns than men [in terms of investment].” Asked if the UK was bad at supporting women entrepreneurs
she responded that a woman in the US was twice as likely to start a business as a woman in the UK. Ms Wosskow reflected, “Entrepreneurs will always find a way,
but I think the political environment and support of entrepreneurship is not as friendly as it was before the Brexit vote.”
Women to fill skills gaps In the last six months, a lot has happened to accelerate the progress of women’s advancement in the workplace. Businesses seem to be getting behind narrowing the gender payment. Developing women’s careers is also one of the most obvious ways to plug the skills gap. The media and social media spotlight on harassment has also
raised awareness. Management organisations from the CBI to the Institute of Directors (IoD) and the Chartered Management Institute (CMI) are pushing their members to acknowledge where organisations are falling short and to provide pathways to improve their position regarding pay, equality and better promotional prospects. This is not only for women, but across their organisations to embed an ethos of diversity and inclusiveness in the workplace. The importance of international experience has also long been
acknowledged as essential for equipping leaders of the future with the global mindset and cultural awareness needed to work across international borders and manage global teams. Supporting the development of women leaders, and ensuring that female assignees get the best possible experience and opportunities internationally is firmly on Relocate Global’s agenda.
Closing the gender pay gap The Accenture report Getting to Equal 2017: Closing the Gender Pay Gap, reveals the actions and attributes that drive fast-track
intense skills shortages, the pay gap holds back not just women, but business and economic growth. The skills shortage and the pay gap must be solved together the report found. Companies that create supportive work
environments are better able to attract new women recruits while encouraging high-performing women to stay in their current jobs.
Published in autumn, the EY and NetExpat Relocating Partner
Survey conducted with more than 3,500 respondents around the world indicated that the largest obstacle to women accepting overseas roles is the full-time career of their partner. It was also showed that the income of the partner made a significant contribution to the family budget. This survey provides powerful evidence of the importance of
providing relocating partner support. The report will give global mobility professionals the ammunition
they need to include partner support in relocation policies and align with business strategy on diversity and inclusion.
Industrial Strategy At the end of November, the government unveiled its Industrial Strategy white paper. It is designed to build on Britain’s economic strengths, address its productivity challenge, embrace technological change and support businesses and its workers. Prime Minister Theresa May said, “Our modern Industrial
Strategy will shape a stronger and fairer economy for decades to come. It will help create the conditions where successful businesses can emerge and grow, and support these businesses in seizing the big opportunities of our time, such as artificial intelligence and big data, while ensuring that young people have the skills to take on the high-paid, high-skilled jobs this creates. Launching the strategy, Business Secretary Greg Clark said,
“We are at one of the most important, exciting and challenging times there has ever been in the history of the world’s commerce and industry. “Powered by new technology, new industries are being created,
existing ones changing, and the way we live our lives – as workers, citizens and consumers – is being transformed. We have commercial and industrial sectors – from advanced manufacturing to financial services, and from life sciences to the creative industries – which are competitive with the best in the world. “In this Industrial Strategy, we set out how we will maintain
and enhance these and other strengths and deploy them to our advantage.”
12 | Re:locate | January 2018
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