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05 May, 2021

Why is diversity so important in the financial sector?

The importance of gender diversity

Although 51% of the employees within the banks are women, it is more difficult for them to advance to managerial positions: only 25% of such positions are held by women. In the executive boards, this number drops further to 1 in 5.

However, more women around the table ensures that better decisions are made. That is because they see the world in a different way from men. This difference in perspective leads to better insights. Homogeneous teams make good decisions 58% of the time. Add women and that same team will make better decisions 73% of the time.

The importance of diversity in general

Ok, more women in the team results in better decision-making. But is the same true for more diversity in age or culture? The answer is yes!

A diverse approach leads to higher performance. A team consisting of men and women of different ages and cultures will make better decisions 87% of the time than a homogeneous team.