How employers can create safer workplaces for women

When we think about workplace safety, the first thing that may come to mind is hazard signs or PPE. But safety can take on another dimension entirely, especially in an office environment or within the accounting and finance industry. Safety is about creating an environment where all employees feel secure, respected, and valued.
But in this blog we’ll focus our attention on women: how do we turn the tables on any existing traditional, or old-fashioned, workplace dynamics to foster a safer space for the women in our industry?

It’s all in the stats

Firstly, let’s look at the realities of the accounting and finance industry. Women can often find themselves navigating a maze of challenges from wage gaps to under representation in leadership roles. And let’s not forget about the elephant in the room – workplace harassment and discrimination.

Of course, not every workplace will be like this, and not every female worker will feel like this. But it is more common than not. For example, in May 2023, Trades Union Congress published new research which shows that three in five women have experienced bullying and harassment or sexual harassment in the workplace.

Women in Finance, a report conducted by the Treasury Committee after they launched an inquiry to assess the barriers women face in financial services, also revealed that Britain’s finance industry had an average gender pay gap of 22.7% in 2022 – 23, and while the finance industry is traditionally male-dominated, this can generate competitive working environments where women may face more barriers to advancement, as well as higher instances of discriminatory practices.

Stay educated

Creating a safe workplace in the UK isn’t just a ‘nice to have,’ but a legal and ethical must-have. Keeping up to date and educated on laws like the Equal Employment Opportunity Act can help you as an employer ensure that you’re fostering a healthy workplace.

Remember – a safe workplace isn’t just about compliance, it’s about building a business where everyone can thrive.

Do your own research

As an employer, you may be aware of any situations where women in the workplace feel undervalued or discriminated against. However, it’s also very possible that it’s not been raised if people are uncertain about whether to voice their concerns or experiences.

Whether you believe that there is an issue or not, it could be a good idea to conduct an honest safety audit and risk assessment to encourage anonymous feedback from your team. It’s similar to doing a thorough financial audit – except this will show where the issues in your workplace lie.

The most valuable insights can come from those who are living the experience every day, so be clear that you are willing to accept feedback and the anonymity will be honoured.

Policies that count

Clear, enforceable policies are the bedrock of a safer workplace for everyone. These are your non-negotiables, or the rules of engagement that will protect your team from harassment and discrimination.

However, it’s not enough to just have them in writing – you need to communicate these policies clearly to your workplace with a zero-tolerance approach to violations, as well as have a transparent reporting process available to anyone who needs it.

Invest in training

Think of training as upskilling your team for a better workplace. Regular workshops on diversity, inclusion, and sensitivity can help transform mindsets and behaviours. And don’t forget leadership training as the tone is set from the top.

You’ll be surprised at how much investing in your workplace’s well-being can improve your business. Appreciating your workforce leads to happy colleagues, better productivity, a possible decline in any retention problems, and improved job satisfaction – it’s a win-win for everyone.

Workplace culture

A truly inclusive culture doesn’t happen by accident. It’s about intentional actions such as mentorship programmes, flexible work policies, and celebrating the achievements of women. As an employer, it is about ensuring that everyone, regardless of gender, has a seat at the table and a voice in the conversations.

And if you believe that you’ve already created a great culture in the workplace, take a look at some of the statistics from research led by global recruitment agency, Robert Walters.

Based on a survey of over 1,000 professionals and employers in the UK:

• 73% of professionals reported that they have left a job because of a poor cultural fit
• 87% of employers offer inductions to new employees on the company cultures and values, whereas 67% of professionals feel like they were misled about the culture during their induction.

Keep evolving

Just like the world of accounting and finance, the work of creating a safer workplace is never done. Regular check-ins on your policies and practices, and a commitment to continuous improvement will keep you on the right track.

And if things go off-course, be ready to listen, learn, and adapt. Also ensure that you are approachable and open-minded for any concerns, feedback, or suggestions you may receive.

Final thoughts

Creating a safer workplace for women in accounting and finance isn’t just about doing the right thing, it’s smart business. As employers, you have the power to lead the change and make the finance industry a beacon for safety, respect and equality – which can eventually lead to more and more industries following this approach.

Soar with Eagle

We are an equal opportunities employer and education provider – ensuring everyone has access to the best learning opportunities to succeed in their career. Have a look at our accountancy courses to see where you could go – and you’ll always have our support.