Formalising our commitment to diversity ensures that it becomes central to everything we do. Our diversity strategy addresses diversity in a meaningful and appropriate way, enabling us to support our members in their day-to-day work, while ensuring the sustainability of the profession, Nick Salter, immediate past-president.
"Formalising our commitment to diversity ensures that it becomes central to everything we do. Our diversity strategy addresses diversity in a meaningful and appropriate way, enabling us to support our members in their day-to-day work, while ensuring the sustainability of the profession," Nick Salter, immediate past-president.
The IFoA recently launched the first part of its diversity strategy, formalising its broader commitment to ensuring equality and diversity in the profession. The strategy includes a commitment to publish an annual Diversity Action Plan, setting out the priorities for the coming year. Gender diversity is identified as the key priority for 2016/2017.
Research carried out by an independent market research firm, on behalf of the IFoA, showed that over a third of men believe that it is easy for female actuaries to climb the career ladder. In contrast, this view was shared by fewer than 10% of women. Why do men and women have such differing views, and what can we or should we do about it?
Helen Crofts, co-chair of the IFoA's member-led Diversity Advisory Group, notes: "It is fairly clear in the research that has been done over the past few years that investing in gender diversity, especially at the top levels, pays dividends across the spectrum - companies make better decisions, are more creative and fare better in the marketplace."
In 2015, the Diversity Advisory Group produced a report entitled 'Bringing the Benefits of Gender Diversity to All: First Steps'. Their recommendations, together with those from the research, will form the basis of the action plan for the coming year.
"The research conducted over the past year clearly indicates that members who take a career break would value more support from the IFoA. Our first task will be to work with the executive team to think about ways to provide this support and make the transition back to work easier," says Craig Edmondson, a member of the Diversity Advisory Group.
To capitalise on this momentum, the IFoA is hosting an event on 14 March, entitled 'The Elephant in the Room: the Diversity Questions You've Always Wanted to Ask'.
The event will feature a panel of experts, including Helena Morrissey, founder of the 30% Club, and Fiona Morrison, IFoA president.
Visit the Diversity Advisory Group webpage for more information: bit.ly/1RlbHNx
To read the full strategy visit bit.ly/1KY4xNY
