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Editor’s blogOctober 11 2023

Why I will be hanging upside down from trees

My ‘Women in… — never again’ streak has ended, with hopeful results.
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Why I will be hanging upside down from treesImage: Carmen Reichman/FT

A few years ago, I swore I would never put together, or take part in, another diversity and inclusion (D&I) panel or ‘Women in…’ event again. 

Not because of the organisers or the speakers, but because I was tired. I was tired of the miserable statistics about women in leadership, pay gaps and funding rates that never seemed to change. (Two percent of venture capital funding for start-ups, still? Are you serious?)

This was during the height of the #MeToo movement. I was tired of the horrible stories — both told in the mainstream press and whispered among various female networks — that served as a type of ‘misery porn’ clickbait. Also, I was disappointed with myself. 

I’ve moderated, organised and spoken on these types of panels for years. I’ve been screamed at twice — once on stage and once on camera — by men who claimed that female founders of tech companies do not exist (a ‘fact’ we all know is not true). 

I made that pledge myself, a few years ago, after I realised that the only time a black woman appeared on stage (at an event I had put together) was on the diversity and inclusion panel. I realised I talked a lot and acted very little.

Goodbye to the ‘women in tech’ breakfasts a 15-minute walk from the main conference event, and hello to just showcasing, profiling, and naming women and people of colour and those with differing physical abilities, etc. (things within my control that I can do). 

I had been lured back into the ‘Women in…’ world. The thing is, I am glad I was.

However, this week I was asked to moderate a panel at data platform Snowflake’s Data Cloud World Tour. I admit I said yes because Snowflake is a company that I keep my eye on as technology editor at The Banker. But I found myself moderating a panel for their ‘Women in Data Breakfast’ — on Ada Lovelace Day (October 10), as it happened. I had been lured back into the ‘Women in…’ world. The thing is, I am glad I was.

The standing room-only breakout session at Snowflake’s event featured Rachel Lockwood, director of EMEA marketing at cloud service AWS, Iryz Almario, strategy and analytics intern at Snowflake, Sinead Okosi, group head of data and analytics at credit intelligence firm Pepper Advantage, and Alex Winward, finance data director at Lloyds Banking Group. 

If you have ever watched or taken part in one of these panels, many of the usual topics were covered. Older women gave their experiences, younger women expressed their fears, strategies around better recruitment practices were shared, the importance of retaining that talent was stressed, and programmes around mentoring and support were highlighted. However, four lessons stood out to me.

I mentioned above that our session was standing room only — for a breakfast session before the start of the main event. However, I would estimate that at least a third of the attendees were men. These men could have been in the room to learn how to be better allies or take on board the very good career advice that was applicable to most people, or just to pick up a bacon roll. But it was the highest percentage of men in a ‘Women in…’ event I have seen in a long time. We’re all in this industry together, folks. 

Second was the importance of data. Using data, without bias, to address inequality. Data allows us to measure and assess our strategies and adjust accordingly. It also guides targets — which only work if they are set and committed to. 

However, the third bit is to throw away the idea that your individual presence in a team or a company is just a token — part of larger targets the company needs to set. Ms Winward at Lloyds commented that by the time your CV reaches her desk for an interview, your skills and qualifications have already been assessed. At that stage of the hiring process, she is looking for personal skills and insights into team fit. 

As a side note, it is my firm belief that any talk about ‘hiring for the sake of diversity’ or positioning people as a ‘token’ hire is perpetrated by those who aren’t interested in seeing the status quo change. I have never met anyone involved in promoting a more diverse workforce arguing for recruiting solely to meet quotas.

Finally, we get to the reason for the strange headline of this blog. The importance of effective and engaged leadership cannot be stressed enough. Not just in areas of D&I, but in many aspects of workplace culture. After almost 30 years in this industry, I feel safe saying that an inclusive, safe, and welcoming environment at work is on par, if not more important, than salary. 

Ms Lockwood at AWS retold a long-held joke about organisations being like monkeys in trees. The monkeys on top look down and see a tree full of smiling faces. The monkeys below look up and see nothing but [bottoms].

When I find myself at the top of the tree, I shall make sure I am always hanging upside down.

 

Liz Lumley is deputy editor of The Banker. Follow her on X (formerly known as Twitter) @LizLum

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Liz Lumley is deputy editor at The Banker. She is a global specialist commentator on global financial technology or “fintech”. She has spent 30 years working in the financial technology space, most recently as director at VC Innovations and architect of the Fintech Talents Festival, managing director at Startupbootcamp FinTech London and an editor at financial services and technology newswire, Finextra. She was named Journalist of the Year for Technology and Digital Finance at State Street’s UK Press Awards for 2022.
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