Context
Sarah Pritchard, FCA Executive Director, Markets, talks about how we all have a role to play in creating a more inclusive world.
Key points to note
Equity – this year’s focus for International Women’s Day – means creating an inclusive world; one where it is recognised that not everyone starts from the same place.
Everyone has a role to play, wherever we work, and whatever role we have. And everyone is able to drive change. This can be done by asking questions, by challenging whether our organisations are driving change, by focusing on data, by highlighting good practice, by looking at our talent pipelines. At a personal level we can share our stories, speak up on behalf of others and get to know the people we work with. We cannot truly focus on equity if we do not know our people.
Why does wider diversity matter to the FCA as a regulator? Diversity and inclusion are essential for healthy firm cultures. There is growing evidence that a diversity of perspectives and thought, when part of an inclusive culture, results in better judgements and decision making.
The FCA has made improving diversity and inclusion in financial services an important part of its ESG plans under its FCA strategy. Diverse and inclusive cultures enable firms to deliver better outcomes for consumers and markets, help firms to ensure that products and services cater to the diverse needs of their customer base and help firms to attract and retain talent.
We all have a role in driving change – whoever we are and wherever we work. If we see talented people who do not realise how talented they are, we can encourage them privately and champion them publicly. We can lift as we climb, speak up for those less confident and less visible. We can share our stories, highlight good practice and poor practice, and critically, for those of us who manage people, we can get to know them so we can understand their starting point and their needs too.
Next actions
None – for information and awareness.