Louise Kelly
Member Services Executive, Financial Services Ireland, Ibec
Ireland’s financial services industry is undergoing a transformation, prioritising gender balance. The cornerstone of this shift is Ireland’s Women in Finance Charter, launched in 2022.
Ireland’s Women in Finance Charter is committed to boosting female representation at all levels. The Economic and Social Research Institute (ESRI) annual report on the Charter’s progress shows that female representation has increased notably, from boardrooms to executive committees and CEO positions.
Improving gender balance in financial services
While progress is evident, challenges persist with considerable room for improvement. Many firms have implemented strategies such as targeted recruitment, retention programmes, mentorship initiatives and leadership development. However, the effectiveness of these approaches varies, with a gap between the most used actions and those that yield the most significant impact.
To expedite change, the industry must prioritise data-driven decision-making while fostering a workplace culture that prioritises employee wellbeing. The industry must go beyond numbers and focus on creating a workplace where all employees feel valued and supported.
The KeepWell Mark provides businesses
with a personalised report to enhance their
corporate workplace wellbeing strategies.
Prioritising wellbeing and belonging
By measuring wellbeing, prioritising employee mental health and fostering a sense of belonging, firms can build a more resilient and high-performing workforce. Together with the Charter, Ibec’s KeepWell Mark, an evidence-based workplace wellbeing accreditation programme, is supporting businesses in these efforts by providing them with actionable recommendations.
The KeepWell Mark provides businesses with a personalised report to enhance their corporate workplace wellbeing strategies. It outlines recommendations including benchmarking and assessment against licensing standards in workplace health, safety and wellbeing.
Advancing gender balance strategies
Financial Services Ireland (FSI), the Ibec group that represents the sector, co-developed the Charter and chaired its steering group for the last two years. FSI recognises the progress made as a significant step forward by the financial services industry. Nonetheless, it’s clear that sustained commitment, innovative strategies and leveraging data insights are essential to achieve lasting gender balance in Ireland’s financial services industry.
These initiatives provide blueprints for businesses to improve gender balance by creating inclusive environments where female employees feel they belong. By setting clear targets, promoting transparency and fostering accountability, the financial services sector demonstrates that gender balance is achievable.
