[PPT] - TAKING PAYMENTS ECOSYSTEM CAPABILITIES TO THE NEXT LEVEL- FOCUS ON PowerPoint Presentation

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TAKING PAYMENTS ECOSYSTEM CAPABILITIES TO THE NEXT LEVEL- FOCUS ON DIVERSITY

Payments New Zealand- November 2016

PRESENTED BY: KRISTY DUNCAN WOMEN IN PAYMENTS, FOUNDER & CEO

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PRESENTATION OVERVIEW

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Where are we now on gender diversity?
Why is diversity & inclusion important?
Where are the opportunities?

TAKING PAYMENT SYSTEM ECOSYSTEM CAPABILITIES TO THE NEXT LEVEL- DIVERSITY & INCLUSION- PAYMENTS NEW ZEALAND 2016

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WE HAVE MADE PROGRESS

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Payments NZ 2016 – women comprise:
30% of attendees
23% of speakers
First NZ woman to run large public

company in 1999- Theresa Gattung (Telecom)

First Australian woman CEO was in 2002

(Gail Kelly appointed to head St George Bank; later headed up Westpac)

TAKING PAYMENT SYSTEM ECOSYSTEM CAPABILITIES TO THE NEXT LEVEL- DIVERSITY & INCLUSION- PAYMENTS NEW ZEALAND 2016

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PROGRESS TO THE TOP VERY SLOW

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Gender diversity in the C-Suite has improved, but we are a long way from parity

TAKING PAYMENT SYSTEM ECOSYSTEM CAPABILITIES TO THE NEXT LEVEL- DIVERSITY & INCLUSION- PAYMENTS NEW ZEALAND 2016

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WHY IS DIVERSITY IMPORTANT?

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Many strands of diversity- thought,

gender, ethnicity, experience, skills, age

Diversity has a positive impact on an
rganization’s performance
Win the war for talent
Strengthen customer focus
Match employee profile to reflect customer

profile

Increase employee satisfaction
Improve decision making
Raise image of organization

TAKING PAYMENT SYSTEM ECOSYSTEM CAPABILITIES TO THE NEXT LEVEL- DIVERSITY & INCLUSION- PAYMENTS NEW ZEALAND 2016

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EQUAL OPPORTUNITY- RIGHT OR PRIVILEGE?

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TAKING PAYMENT SYSTEM ECOSYSTEM CAPABILITIES TO THE NEXT LEVEL- DIVERSITY & INCLUSION- PAYMENTS NEW ZEALAND 2016

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WHY GENDER DIVERSITY?

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A 2014 study by Credit Suisse found a 27% higher ROE

and 42% higher dividend payouts in companies where women comprised at least 10% of the top operational roles vs 5%

McKinsey & Company found in a 2014 study 15% higher

financial returns for companies with higher gender diversity at the leadership level (at least 22% of the leadership team)

A 2015 study by Quantopian benchmarked Fortune 1000

companies with women CEOs against S&P performance between 2002 and 2014, and found equity returns for the 80 firms with female CEOs were 226% better than the S&P 500 performance

TAKING PAYMENT SYSTEM ECOSYSTEM CAPABILITIES TO THE NEXT LEVEL- DIVERSITY & INCLUSION- PAYMENTS NEW ZEALAND 2016

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HOW CAN WE, AS LEADERS, PROMOTE DIVERSITY?

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Strategies for Success
Rethink the way we work (fix the industry, not the women)
Adopt family-friendly practices for everybody- more flexibility benefits all
Sponsor from the top
Measure and track progress for all strands of diversity
Number interviewed and hired, by diversity strand, at all stages of the hiring

process (both new employees and internal hires)

Compensation and promotion rates, by diversity strand, at all levels
Attrition- numbers leaving and why
Employee engagement levels; perception of meritocracy and work/life balance

TAKING PAYMENT SYSTEM ECOSYSTEM CAPABILITIES TO THE NEXT LEVEL- DIVERSITY & INCLUSION- PAYMENTS NEW ZEALAND 2016

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ADDRESSING UNCONSCIOUS BIAS

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Identify and interrupt gender bias (4 key areas)
Likeability- success and likeability are positively correlated for

men, but negatively correlated for women

If a woman is competent, she seems less likeable
If a woman is nice, she seems less competent
Assertive women are perceived as aggressive and ambitious
Assertive men are perceived as confident and strong
Performance Evaluation Bias
One study cited 66% of women receiving negative feedback during

performance appraisal on their personal style, such as “You can sometimes be abrasive.” Less than 1% of men received similar feedback.

Performance evaluation bias is more pronounced when review criteria

are unclear, and evaluators rely on gut feelings and personal inferences.

Training to recognize and counteract

TAKING PAYMENT SYSTEM ECOSYSTEM CAPABILITIES TO THE NEXT LEVEL- DIVERSITY & INCLUSION- PAYMENTS NEW ZEALAND 2016

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ADDRESSING UNCONSCIOUS BIAS (CONTINUED)

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Maternal Bias- Mothers are assumed to be less competent

and less committed to their careers

Held to higher standards and presented with fewer opportunities
Next Generation
Research in many countries shows children of involved fathers are

healthier and happier, and have fewer behavioural problems

A study by University of British Columbia found that when fathers

share equally in housework, their daughters are less likely to limit their aspirations to typically female jobs.

When children see both parents pursuing careers AND sharing

housework, they are more likely to carry gender equality forward to the next generation; benefits entire society

We need training to recognize and counteract unconscious

gender bias

TAKING PAYMENT SYSTEM ECOSYSTEM CAPABILITIES TO THE NEXT LEVEL- DIVERSITY & INCLUSION- PAYMENTS NEW ZEALAND 2016

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BRINGING DIVERSITY TO PAYMENTS

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HM Treasury in the UK, the world’s largest exporter of

financial services, published a report in March this year, entitled “Empowering Productivity: Harnessing the Talents

f Women in Financial Services”
Recommendations include:
Reporting- Every financial services firm operating in the UK is

encouraged to publish its own inclusion strategy and targets annually, and to report progress against targets

Executive Accountability- The strategy should be owned and

driven by a senior member of the Executive Committee (preferably from a business line role), who is responsible and accountable for the strategy’s design, execution, and success

Remuneration- Success against internal measures of the
rganization’s gender balance strategy should form part of the

annual bonus of all senior executives

TAKING PAYMENT SYSTEM ECOSYSTEM CAPABILITIES TO THE NEXT LEVEL- DIVERSITY & INCLUSION- PAYMENTS NEW ZEALAND 2016

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ELEPHANT IN THE ROOM: GENDER PAY GAP

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TAKING PAYMENT SYSTEM ECOSYSTEM CAPABILITIES TO THE NEXT LEVEL- DIVERSITY & INCLUSION- PAYMENTS NEW ZEALAND 2016

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According to New Zealand Ministry for Women, in 2016 the gender pay gap in NZ was 12%, down from 16% in 1998; compares to European average of 16% in 2014

TAKING PAYMENT SYSTEM ECOSYSTEM CAPABILITIES TO THE NEXT LEVEL- DIVERSITY & INCLUSION- PAYMENTS NEW ZEALAND 2016

GENDER PAY GAP

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GENDER PAY GAP- HOW TO FIX

TAKING PAYMENT SYSTEM ECOSYSTEM CAPABILITIES TO THE NEXT LEVEL- DIVERSITY & INCLUSION- PAYMENTS NEW ZEALAND 2016

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Two solutions to eliminate the gender pay gap today:

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Implement pay transparency

2.

Eliminate negotiation

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WHERE TO FROM HERE?

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We have an opportunity to use different

strands of diversity to drive equality in the payments industry

Harnessing the talents of women will

help increase competitiveness, innovation, financial performance

As leaders, we need to make diversity a

priority, develop strategies to achieve it, and track our progress against measurable targets

TAKING PAYMENT SYSTEM ECOSYSTEM CAPABILITIES TO THE NEXT LEVEL- DIVERSITY & INCLUSION- PAYMENTS NEW ZEALAND 2016

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THANK YOU

Kristy Duncan

kristy@womeninpayments.org