Prescient ’s Post

Transcript

Women remain underrepresented in South africa's financial sector despite the notable increase in the numbers. The World Economic forums at 2021, a global gender gap report, estimates that it will now take up to 135 years to close the gender gap. Female leaders in the industry say common misconceptions about women need to be overcome in order to allow for a more. Inclusive and evolved financial sector. And they say skills like empathy, strategic foresight, patients and effective communication are one of that makes a woman valuable assets to the organisations. And for more on this now we are joined by CEO of a precinct and management company, Kim Gibbs. And she joins us now via our video link. Kim, thank you so much for your time this evening here on SABC News. I mean, you are in the financial sector. Maybe, you know, just give us an insight, what is it like to be a woman in the financial sector in South Africa? Thank you, Dolly. Well, it's it that's quite a a sort of multi managed question. And I must say it's it's incredibly difficult to be a woman in in this sort of sector. But in the same time it's actually incredibly empowering actually being a woman and especially being in sort of more than executive position, being able to actually maintain an influence and help other women. So it's it's a very exciting time to to be a woman in this industry where. It is growing. There is definitely an awareness of needing more women in, in rosenior role. So it's really great to it's, it's a good time to, to be in the industry. Umm, do you feel that you know, despite your capabilities as a woman in your sector that you constantly need to prove yourself because one would say you are in a very male dominated space? Definitely. And I think you can see by the pay gap, the biggest probably differential and why there's such a large ginger gender pay gap is actually because of the lack of women represented in senior roles. So it's definitely I think that's why we we really do struggle. But at the same time, I think women do suffer from what you'd almost say as an imposter syndrome. I think you do tend to almost second guess yourself. You you do always feel like. Can I do this right? Can does anyone believe me? Do they take me seriously and do they just think I should be a stay at home mom and not actually doing this role? And you've studied for so many years and and proven yourself, but do they do you actually really get taken seriously? Do you really have the seat at the table? And you know, just that nugget there, you have proven yourself. And when it comes to the challenges being faced by women in your industry, the big thing that comes out like you pointed to. Is indeed that pay gap? Why would you say that it's still difficult for women you know to be paid equally as their counterparts for doing the exact same job? I think probably at your most levels, women are being paid the same. But I think if you take an overall average of the industry, just the sheer vote of mount of men in the sort of more senior executive roles, it it will always be skewed. And I think I'm definitely seeing good trends where that's definitely if you if you do see a man and a woman, certain positions there are being paid equally, but there's definitely still this misconception that I think women feel like they. Can't apply for certain roles or they can't sort of push through and actually put their hand up for promotion. They feel like they maybe don't have the skill set to do it or the confidence to, to go there. And whereas actually they're capable of doing it. And I think it is just for women to have that confidence to say, actually, you know what I can do this role it's and I can actually have that balance with my, my life at home and my family and still actually achieve at work and. Looking at that World Economic Forum Agenda Gap report from 2021, saying that it will take at least 135 years to close that gap in your sector, the finance sector, how does it make you feel 135 years? It feels like we've got a lot of work to do. And I think as, as women in the finance industry, I think the key, what we need to use our position is to help the, I mean, there's a really great trend of we're seeing women coming through, especially in tertiary education is definitely probably, if you look at most of the finance classes, it's almost skewed towards having more women and men. So I think our role as women in finance is to, to really speak up. Within our organizations, making sure that gender pay gap and diversity is really addressed. So if you see something that you don't feel is right, or if you feel like you could do more for women, it's, it's actually that's our duty as as women in finance to really help that. And, and Kim, you keep on touching a lot about misconceptions, you know, for women in the finance sector. Would you say that, you know now because I mean, we are better equipped than in the past and. Or women are working in the finance sector. Would you say that there is a willing environment to change some of these, you know, misconceptions around women in the finance sector? Definitely. And I think, but I think it goes for the, there are some organizations that maybe aren't, but they're definitely are organisations where they're sort of work life balance is, is a lot more flexible for women. So women are able to actually put up their hands to be, to do roles that there may have never been able to do before because they feel like they don't have that balance. So I definitely think things are changing in that regard. And what is your adviser to women in your sector or for women? Who would like, you know, to fulfill a career in the financial sector, you know, particularly when you look at the challenges are facing woman. I think confidence is key. So I think you need to also find the mentor early and find someone that find women in organization or maybe women that you know work in finance and and have the confidence to to speak to them to to ask for good advice. I think so many times women just. Maybe I'm shy or don't have that confidence and don't put up their hand for opportunities think Oh well, my male counterpart could do this better than I can. I don't have all the skills. So it's really just having that confidence and and even you know, you might not have that confidence straight away, but it's just slowly little bites and and ask there are lots of other women that have been there. It's it's asked for help. I think it is really important and I think that's probably where women probably are sometimes their own worst enemies is actually we need to support. The woman and and really help them grow. And what does it take to stay in the finance sector? I think probably grit bit of determination and, and actually it's a really exciting sector to be in, especially in South Africa. Things are growing and changing and it's a very varied environment. There's so many different roles. So I think doesn't doesn't take a lot it, it really just takes. Yeah, determination, I think probably anything else. Alright, Kim, thank you so much for your time. That is a Kim Gibbs. She is the CEO of Precinct Management Company. They're just giving us her insight there when it comes to her role in the finance sector as well as women in the finance sector, particularly as we still continue our focus on women during woman's month into this now it's been a month since.