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Why Grant Thornton
Whether you’re growing in one market or many, looking to operate more effectively, managing risk and regulation, or realising stakeholder value, our firms can help.
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Culture and experience
Grant Thornton’s culture is one of our most valuable assets and has steered us in the right direction for more than 100 years.
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Global scale and capability
Beyond global scale, we embrace what makes each market unique, local understanding on a global scale.
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Join our network
In a world that wants more options for high quality services, we differentiate in the market to grow sustainably in today’s rapidly changing environment.
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Leadership governance and quality
Grant Thornton International Ltd acts as the coordinating entity for member firms in the network with a focus on areas such as strategy, risk, quality monitoring and brand.
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Africa
24 member firms supporting your business.
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Americas
31 member firms, covering 44 markets and over 20,000 people.
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Asia-Pacific
19 member firms with nearly 25,000 people to support you.
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Europe
53 member firms supporting your business.
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Middle East
8 member firms supporting your business.
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Business consulting services
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
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Business process solutions
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
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Business risk services
The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
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Cybersecurity
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
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Forensic services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
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Mergers and acquisitions
We work with entrepreneurial businesses in the mid-market to help them assess the true commercial potential of their planned acquisition and understand how the purchase might serve their longer-term strategic goals.
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Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery.
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Transactional advisory services
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
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Valuations
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
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IFRS
At Grant Thornton, our IFRS advisers can help you navigate the complexity of financial reporting from IFRS 1 to IFRS 17 and IAS 1 to IAS 41.
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Audit quality monitoring
Having a robust process of quality control is one of the most effective ways to guarantee we deliver high-quality services to our clients.
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Global audit technology
Our global assurance technology platform provides the ability to conduct client acceptance, consultations and all assurance and other attestation engagements.
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Corporate and business tax
Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
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Direct international tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
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Global mobility services
Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
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Indirect international tax
Using our finely tuned local knowledge, teams from our global organisation of member firms help you understand and comply with often complex and time-consuming regulations.
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Transfer pricing
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
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Africa tax desk
A differentiating solution adapted to the context of your investments in Africa.
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Banking Holding banking to account: the real diversity and inclusion pictureWe explore how the banking sector can continue to attract, retain and nurture women to build a more diverse and inclusive future.
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Sustainability From voluntary to mandatory ESG: How banks can future-proof their operationsAs we move from voluntary ESG initiatives to mandatory legislation, we explore what the banking sector needs to prioritise.
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IFRS IFRS 9 - Audit of Expected Credit LossesGPPC releases The Auditor’s response to the risks of material misstatement posed by estimates of expected credit losses under IFRS 9
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growthiQ Steering your company to long-term successHistory has something important to tell us about the difficulties of steering a business to long-term success – through seismic shifts in technology, consumer demands and product development. With that in mind it’s unsurprising that over half the world’s largest companies in the early 1900s had shut their doors by the late 1990s. Some, however, have endured.
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International Financial Reporting Standards Implementation of IFRS 17 ‘Insurance Contracts’The auditor’s response to the risks of material misstatement arising from estimates made in applying IFRS 17 ‘Insurance Contracts’
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IFRS Get ready for IFRS 17After twenty years of development the IASB has published IFRS 17 ‘Insurance Contracts’, find out more.
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - Sector analysis Clear patterns of damage from COVID-19 across the industriesThe index results for 12 key sectors of the mid-market reveal just how much or little the various parts of the economy were impacted by COVID-19.
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Not for profit Mission: possible – putting impact at the heart of charityGlobal charitable continues to decline and charity leaders are increasingly looking at their own unique impact journey.
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Access to finance Raise finance to invest in changePrepare your business to raise finance to invest in change.
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Private equity firms Private equity in the mid-market: reshaping strategies for 2021When the global COVID-19 pandemic stormed across the globe in early 2020, the private equity sector was hit hard but deals are coming back to the market.
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Mid-market businesses Getting ready for private equity investmentOur specialists explore how private equity firms are now working with their portfolios and how the mid-market can benefit from investment.
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Mid-market businesses Myth-busting private equityNervous about partnering with Private Equity? We explore some of the common myths we come across when speaking to mid-market businesses about PE investment.
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Public sector Helping build the government of tomorrow, todayLearn about the Grant Thornton US public sector team.
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - Sector analysis Clear patterns of damage from COVID-19 across the industriesThe index results for 12 key sectors of the mid-market reveal just how much or little the various parts of the economy were impacted by COVID-19.
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Industries European Real Estate PodcastJessica Patel, Tax Partner at Grant Thornton UK speaks with tax partners and directors across the network to share their insights on the real estate market and some of the challenges.
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Industries European Real Estate PodcastJessica Patel, Tax Partner at Grant Thornton UK speaks with tax partners and directors across the network to share their insights on the real estate market and some of the challenges.
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Retail How retail is positioning for successCOVID-19 provided some hard lessons for the retail industry. It is time to turn those into sustainable and well executed growth strategies in 2021.
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Telecoms Can tech and telecom leverage economic headwindsAs most businesses brace for an economic downturn, tech and telecom could see new prospects. But, to turn the headwinds to your advantage, you need to find your unique opportunities and risks.
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Technology Mid-market tech companies lead the way on diversity and inclusionWe explore how the mid-market tech sector can continue to build and nurture a culture that’s increasingly more diverse and inclusive for women.
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Tax Resetting global tax rules after the pandemicBusinesses are seeing rising challenges, and finance heads are dealing with a range of new measures. To say the next 12 months are critical for businesses is an understatement.
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TECHNOLOGY International tax reform: the potential impact on the technology industryIn this article, we’ve summarised key elements of the global tax reform proposals, their potential impact on technology industry and advice from our digital tax specialists on what technology companies can do to prepare.
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Telecoms Can tech and telecom leverage economic headwindsAs most businesses brace for an economic downturn, tech and telecom could see new prospects. But, to turn the headwinds to your advantage, you need to find your unique opportunities and risks.
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TMT TMT industry: Fully charged or on standby?Our research revealed five key trends that resonated with Technology, Media and Telecoms (TMT) industry leaders around the world. We asked a panel of our experts from UK, US, India Ireland and Germany, to give us their reaction to the findings.
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Cybersecurity One size fits nothingTechnology companies must adopt a new approach to digital risk: those that successfully develop a reputation for digital trust by demonstrating an unwavering commitment to cyber security and data privacy will be able to carve out a competitive advantage.
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Technology, media & telecommunications Why it’s time for a 5G reality checkFigures suggest the mobile sector is maturing. While data usage continues to soar, mobile revenues are expected to flatten out over the next few years.
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International business Mid-market businesses lifted by rising tide of optimismOptimism among global mid-market business leaders rose to 67% in the first half of this year and they are markedly more optimistic about their prospects with global optimism having increased by 8%.
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Hotels COVID-19: Checking in with the hotel industry one year onCOVID-19 provided some hard lessons for the hotel sector. It is time to turn those into sustainable and well executed growth strategies.
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
- By topic
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Women in Business 2024
2024 marks the 20th year of monitoring and measuring the proportion of women occupying senior management roles around the world.
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COP28: Mid-market firms should seize the opportunity from adaption and innovation
COP28 was the first time there has been a global stocktake on progress against the Paris Agreement.
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Scanning the horizon: Mid-market sets sights on global trade growth
The latest International Business Report (IBR) data shows that mid-market businesses have high expectations for global trade.
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Mid-market sees business optimism reach record high
Grant Thornton's latest International Business Report (IBR) sees optimism among mid-market business leaders reach a record high with 74% optimistic about the outlook for their economy over the next 12 months.
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Women in tech: A pathway to gender balance in top tech roles
Grant Thornton’s 2024 Women in Business data suggests we are far from achieving parity within the mid-market technology sector.
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Women in leadership: a pathway to better performance
What makes the benefits of gender parity compelling is the impact it can have on commercial performance.
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Women in Business 2024
2024 marks the 20th year of monitoring and measuring the proportion of women occupying senior management roles around the world.
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Women in business: Regional picture
We saw an increase in the percentage of senior management roles held by women, on a global level, but there are some significant regional and country variations.
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Pathways to Parity: Leading the way
To push towards parity of senior management roles held by women, who leads within an organisation is vital.
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Generating real change with a long-term focus
The most successful strategy to achieve parity of women in senior management is one which stands alone, independent of an ESG strategy.
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People at the heart of great business
Businesses have started to put guidelines and incentives in place, focused on driving employees back to the office.
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Focusing and developing a solid strategy around diversity, equity and inclusion
Grant Thornton Greece is pioneering a growing set of diversity, equity and inclusion (DE&I) initiatives that centre around three strategic pillars.
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Ten considerations for preparing TCFD climate-related financial disclosures
Insights for organisations preparing to implement the International Sustainability Standards Board (ISSB)’s Standards.
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COP28
COP28 was the first time there has been a global stocktake on progress against the Paris Agreement.
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Transition Plan Taskforce publishes its final disclosure framework
As organisations in the private sector make commitments and plans to reach net zero, there's a growing need for stakeholders to be able to assess the credibility of their transition plans.
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Promoting ESG excellence through tax
ESG considerations have never been more important for an organisation’s long-term success, but how can tax be used to add value to an ESG agenda?
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International business: Mid-market growth and expansion
The mid-market looks to international business opportunities for growth.
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Top five constraints to international business in the mid-market
Top five major constraints that are testing the mid-market’s ability to grow their businesses internationally.
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Brand and international marketing – breaking global barriers
Brand has been identified as a key driver of mid-market success when looking to grow and develop international business.
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The key to international business: Investing in people
How can recruitment and retention help grow international business?
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Building resilience in international business
Evolving supply chains and trade patterns amid ongoing global uncertainty.
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IFRS Alerts
IFRS Alerts covering the latest changes published by the International Accounting Standards Board (IASB).
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Example Financial Statements
General guidance for preparers of financial statements that supports the commitment to high quality, consistent application of IFRS.
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Insights into IFRS 2
Insights into IFRS 2 summarises the key areas of the Standard, highlighting aspects that are more difficult to interpret and revisiting the most relevant features that could impact your business.
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IFRS 3
Mergers and acquisitions are becoming more common as entities aim to achieve their growth objectives. IFRS 3 ‘Business Combinations’ contains the requirements for these transactions.
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IFRS 8
Our ‘Insights into IFRS 8’ series considers some key implementation issues and includes interpretational guidance in certain problematic areas.
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IFRS 16
Are you ready for IFRS 16? This series of insights will help you prepare.
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IAS 36
Insights into IAS 36 provides assistance for preparers of financial statements and help where confusion has been seen in practice.
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IFRS 17
Explaining the key features of the Standard and providing insights into its application and impact.
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Pillar 2
Key updates and support for the global implementation of Pillar 2.
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Global expatriate tax guide
Growing businesses that send their greatest assets – their people – overseas to work can face certain tax burdens, our global guide highlights the common tax rates and issues.
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International indirect tax guide
Navigating the global VAT, GST and sales tax landscape.
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Global transfer pricing guide
Helping you easily find everything you need to know about the rules and regulations regarding transfer pricing and Country by Country reporting for every country you do business with.
Early speculation at the start of the Covid-19 pandemic suggested that women in business could be set back as much as ten years by changes to the working environment.[i]
However, our recent report, Women in Business 2022, suggests that in many ways, women in mid-market organisations are actually benefiting from the new order. Businesses it seems, are seizing the day, with plenty of evidence to show that diversity & inclusion (D&I) is higher on the agenda than ever before.
However, it will take continued focus and dedicated action to ensure that these benefits translate into further progress, particularly in the financial services industry, where stakeholder pressure to achieve and maintain gender balance is rising. How can leaders continue the drive to create flexible, inclusive environments and ensure the door is open to diverse talent at a time when 57% of mid-market businesses are concerned about a shortage of skills?
Flexible working: A positive picture of progress
Our 2022 research shows that Covid-19 has had profound implications for women in financial services, over and above the benefits felt across the business as a whole. An overwhelming majority of female and male business leaders from our sample – 82% – believe that new working practices have benefited women during the pandemic, almost 20% more than the global average. An even higher percentage (85%) are using new ways of working to create a more inclusive environment for female talent.
“I think that we’re entering a new era,” suggests Athanasia Gerasimopoulou, financial services partner at Grant Thornton Greece.
“Apart from the difficulties with lockdown and Covid-19 itself, personally I’ve found that this has been a good opportunity for me both to work effectively and to be with my children, and we’ve had the same feedback from clients.”
Tari Makanda, partner at Grant Thornton Australia agrees. “In the past, many women were driven out of the workforce due to a lack of flexibility. But now you can manage the way you work and even your hours, while businesses know you can still do the work wherever you are. The ability to attend leadership courses or networking events online has also brought more opportunities for women to engage and learn outside of work.”
“The new way of working is benefiting women, but I think more broadly it’s benefiting everyone; it’s more inclusive which is really positive to see,” suggests Vivian Lagan, director at Grant Thornton UK.
“The challenge for our clients in the financial services sector now is to continue working on D&I and not assume that they have overcome the problem,” says Hilkka Nyberg, director at Grant Thornton Sweden.
“It has become clear that gender equality and diversity is a prerequisite for future growth in any company. New companies are coming into the market, so if established organisations want to keep their clients and talent, achieve better results, and have more satisfied employees and customers, they need to keep up with these new players.”
How can financial services maintain momentum towards gender balance?
The growing competition from new start-ups and FinTechs may be just one of the reasons why 81% of financial services organisations surveyed in our Women in Business research have seen stakeholder pressure to achieve or maintain gender balance increase as a result of Covid-19, a considerably higher figure than in other sectors. “Companies need to look to their corporate culture,” explains Hilkka. “If you're not an attractive workplace, you will not only lose competent employees but also risk losing investors who are becoming more aware of this.”
Our research shows that financial services organisations are responding to this pressure by taking dramatically more actions to ensure employee engagement and inclusion, including promoting work-life balance and flexibility for employees.
“We’ve seen some really stand-out actions by clients,” says Vivian. “One company is introducing an IVF programme which includes fully paid support for women and has received immense recognition across both the firm and the board. Women pursuing their careers are likely to have children later in life and so this initiative really stood out for me. Firms are also taking action on things like childcare, providing emergency cover, and we’ve even seen some big investment banks setting up creches within the office. It’s really positive to see; hopefully these actions will improve the talent pipeline and the statistics.”
The second fastest growing action to promote D&I identified by our research was creating an environment where all colleagues can 'speak up' with ideas, issues and questions. It’s something that Tari has noticed a definite increase in.
“We’ve seen a lot of work in Australia around engagement surveys. Organisations have revamped the way they do these to make sure that they hear exactly what people are saying. We've also been involved in a number of culture audits to see whether clients’ cultures are fit for the future. There’s a drive towards creating an environment where everyone can speak freely. People are the highest risk within your organisation so if they can’t speak freely, that will hinder your risk management.”
To succeed, banks and financial services organisations will need to change their outlook, suggests Vivian, because the new generation of talent view things differently. “A good pay package and bonus is no longer enough. It’s more about what type of firm am I going to work for? Is the firm socially engaged? And what impact is the organisation making on society?”
Accounting for the benefits of diversity and inclusion
There’s more evidence that banks are realising the need to demonstrate progress to their stakeholders, rather than just set goals. Our research shows that while drivers of engagement and inclusion are much the same for financial services as for other sectors, one area of greater importance is improving or maintaining gender balance.
“Stakeholders want to associate with an organisation that has the same values as them,” explains Tari. “They want to see tangible actions and results. So, organisations and banks are beginning to realise the importance of having gender balance, integrated reporting and the benefits that brings.”
Athanasia recognises the same trend in Greece. “What I see here is that banks are increasingly trying to include measures and metrics in their transformation and ESG programmes. They are in the process of building KPIs around diversity for the next five or ten next years, because up until now they haven’t had tangible results to show.”
The focus on gender balance could also be a reflection of the need for different talents in leadership, some of which, such as empathy, are traditionally thought of as female traits.
“Within the UK there's an increased focus on diversity of skill set and thought. Clients within the internal audit community are no longer interested in just qualified accountants or finance professionals, they're interested in a talent pool with FinTech experience as an example, or someone that studied politics or art, because they bring that diversity of thought into the established skill set of the financial services community,” adds Vivian.
Future of work: Battles still to win
The pandemic has allowed workers to rethink their careers, work conditions, and long-term goals, driving them to seek work with organisations where they feel valued, listened to and looked after. Yet one driver of engagement and inclusion for financial services that our research identified as lower than the global average is the importance of retaining existing talent. Does this worry our panel at a time when all sectors across all continents are facing talent shortages?
“There is increased competition for talent so it's really critical to have a clear way to retain women in the workforce,” Vivian suggests. “The very best of our clients are looking into this and asking questions, such as ‘How can we retain our talent? How can we upskill them? How can we develop the broader perspective that they require to stay with the firm rather than bringing in new talent?’”
According to Hilkka, we need a holistic view and approach to the issues. “As women we might want to commit ourselves to building a career in a bank for example, but we need to be able to actually see ourselves represented in the leadership. Everything is linked together.”
Which brings us to perhaps the most worrying findings in our research around women in this industry. While female representation across many of the positions improved markedly, with double figure rises for women heading up human resources and marketing in particular, the number of women in the top leadership roles has fallen significantly. There are 11% fewer female CEOs and 6% fewer CFOs in 2022 than in 2021.
“It was disappointing that where we want to see the change is where we are actually going backwards,” admitted Tari.
“I think we need more and louder voices within organisations; more allies. If women don't see any women ahead, then they think it's impossible. But what we see today is not what it’s going to be in the future. I know two female CEOs in Australia’s banking sector and I've noticed that somebody mentored them throughout their career, sponsored them to be able to get to where they wanted to. It’s this sort of thinking that has led Grant Thornton Australia to launch our own Gender Equity Network in an initiative that's been driven by the CEO.”
“I agree that sponsorship and mentoring are critical,” says Vivian, “and having a really strong women’s support network within your organisation is really powerful. Also developing a keen focus on promotable tasks – those tasks that will get us up the ladder to that level that we want to be.”
Will banks rise to the ongoing challenge?
In the once traditionally male-dominated world of banking, there are the definite signs of a march of progress. Organisations are waking up to the benefits of a more diverse, gender-balanced workforce and recognising the strengths and talents that women can bring when given the flexibility and support to reach their full potential. But there is still a distance to go.
Until we see more female leaders at the head of our banks, the future for women remains uncertain. If businesses are going to seize the opportunity to accelerate into a more inclusive future, they need to be held to account; progress needs to tangible, monitored and measurable.
Men in leadership positions also need to recognise the benefits that diverse leadership can bring, and have an important role to play as allies in accelerating progress. Unless women have access to all areas – including those at the very top of our financial services – it may well be a case of one step forward, and two steps back. In which case, banks may well pay the price.
To find out more about how businesses are opening the door to diverse talent and driving gender parity, read our Women in Business report and diversity and inclusion insights.
i.Source: https://www.weforum.org/reports/global-gender-gap-report-2021/