Discover Fertifa

Women make up 46% of the workforce in the financial sector. Yet there are still countless barriers in their way, stopping the progression of women.

A pink tote bag and a shoutout on International Women’s Day is not going to make your female employees feel supported, nor make them want to stay. So, we have put together a list of 10 simple steps to help your company attract and retain top female talent in the financial services sector, helping make it a fair industry and a balanced workforce.

Recognise the gender gap in your Private Medical Insurance (PMI)

PMI is understandably a go-to solution for employers in financial services firms  to provide access to healthcare to their employees. For so many reasons, PMI support is excellent. However, there is a noticeable gender gap in PMI when it comes to reproductive health support.

Unfortunately, this gap is causing many women across various sectors, including finance, to feel undervalued and overlooked. Ultimately, this leads to female employees looking elsewhere, to companies with inclusive behaviours and comprehensive reproductive support.

53% of employees, experiencing reproductive issues such as fertility challenges, say they’d be more likely to stay at their company if the employer funded fertility treatment. Additionally, 42% of menopausal women consider leaving work, which reiterates that this gender gap in PMI is the root cause of many women not being able to reach their full professional potential and ultimately leaving their roles.

To find out more about the gap in PMI and gender diversity, read our article here.

Implement proper menopause support

25% of women in finance, more likely to leave their jobs due to menopause. It is crucial that the correct support is put in place to help retain top female talent, especially those in senior roles or senior management. Here are some of the most common symptoms menopausal/ perimenopausal women are having to face whilst at work:

• Hot flushes.
• Dizziness.
• Fatigue.
• Heart palpitations.
• Migraines.
• Muscle aches.
• Recurrent urinary tract infections.

Additionally, 48% of women have stated that they are experiencing low mood/ mood swings due to their menopause. This highlights that menopause support is a necessity not only for the physical health of your female employees, but their mental wellbeing too.

At Fertifa, our menopause support includes benefit such as; access to appropriate resources, 1 to 1 clinical support with our in-house medical team, diagnosis and treatment. Implementing menopause support benefits such as ours, demonstrates your commitment to creating an inclusive culture, and attracting and retaining female employees.

Introduce fertility & family-forming benefits

In the UK alone 3.5 million people are currently experiencing fertility challenges and these issues are impossible to leave at home. 70% of millennials consider leaving their jobs for roles offering fertility benefits, often due to the financial and emotional burden.

A simple yet incredibly effective way to help attract and retain women in finance, is to offer fertility and family-forming benefits. If a company chooses to partner with a provider such as Fertifa, these benefits could include:

• Access to the education hub & webinars
• 1 to 1 support with our in-house clinical team.
• Reimbursement/ payment plan to ease the financial burden.

Not all families look the same and the fertility journey is rarely smooth. With 63% of LGBTQ+ millennials wanting to start a family, it is crucial that policies and benefits are inclusive.

By offering comprehensive fertility and family-forming benefits, your company’s commitment to ensuring better outcomes for women and pushing for diversity in finance is clear, setting you apart from other competitors.  

Provide mentoring and training opportunities

80% of company executives state that wellbeing is a ‘top-priority’, whilst 90% of employees feel as though ‘work life is getting worse.’ There are many issues for working women dealing with reproductive challenges, the majority of which can be resolved by employers and HR teams.

If we address the root of the problem, it comes down to the fundamental support that employees require from their employers, yet don’t receive. 

To gain a deeper understanding of the challenges employees face, whether it's endometriosis, PCOS, fertility issues, or menopause in the workplace, leadership and HR teams must undergo proper training and education. For example, attending online events on a range of topics directed at people in senior management positions, so they can understand how best to support their employees.

Through Fertifa, we offer Manager Guides, such as our menopause, women’s health and men’s health guides. Each guide is filled with knowledge and advice, backed by our in-house clinical team, on how you can ensure your workplace is providing best-in-class employee support.

Another way for your leadership team and HR representatives to learn more about Fertifa and how we can increase the attraction and retention of female talent in finance, download our Women's Policy today.

Ensure comprehensive maternity advice and support

Inherent sexism surrounds working mothers, with the assumption that women will abandon their professional ambitions once they become parents, while their co-parents are expected and encouraged to juggle both career aspirations and parenthood.

(57%) of working mothers have had to reduce working hours because of their co-parent’s workplace inflexibility. With Fertifa, you are able to provide your employees who are expecting or have recently had a baby, with 1-2-1 professional advice support with our in-house clinical team, to help ease the transition back to work. Depending on the benefits package purchased by the employer, employees may also have access to financing, where they can upload invoices and receipts from screenings and treatments to help with the financial burden of becoming new parents.

Additionally, one-third of people experience health problems after childbirth, and maternal mortality for black women in the UK is four times higher than for white women. Providing maternity advice and support not only demonstrates a conscious effort to promote gender equity, it also marks a step forward for diversity and inclusion.

87% of working parents say family leave is a major factor when choosing an employer. In order to maximise attraction and retention of women in finance, acknowledge the gaps in maternity care and provide the much needed support.

Offer support for conditions such as endometriosis and PCOS

1 in 10 women suffer from Endometriosis and in the UK alone, 1 in 10 women have PCOS. These conditions are all too common and the symptoms can often be severe, yet the support in place is nowhere near enough.

Women with endometriosis battle symptoms such as; chronic back/pelvic pain, bloating, nausea, fatigue, depression, anxiety, and infertility daily, all whilst striving to reach their professional potential.

With 1 in 6 women leaving jobs due to conditions like endometriosis, companies in the financial sector must offer higher standards of female health benefits to attract and retain top talent.

In the UK, the average diagnosis period for endometriosis is 8 years and 10 months, meaning women are suffering in silence for a huge proportion of their working lives. At Fertifa, we can help resolve this. Our women's health benefits allow female employees to fast-track waiting periods with 1-to-1 advice and referrals from leading clinicians.

With your employees being able to access the appropriate advice and support and treatment they need, attracting and retaining women in finance will immediately become easier.

Allow flexible working alternatives

Girls can start their periods from as early as 8 years old and from that stage, they can suffer multiple reproductive health issues across every phase of their lives. From painful periods, endometriosis, PCOS, fertility issues and eventually menopause, women are facing many challenges whilst balancing their work.

As an employer, knowing how to support female employees can feel overwhelming. With 33% of employers unsure on how to assist women experiencing reproductive health issues like menopause.

However, the solution is simple. Introducing reproductive health benefits and flexible work options will help employees feel valued and supported, enabling them to perform more effectively in their roles.

Another benefit of allowing flexible working, is that it allows your employees to work around their reproductive health schedules more easily. For example, if employees have painful endometriosis symptoms they can work from the comfort of their own home, if employees are going through IVF they can take their required medication without feeling awkward to do so at work. Additionally, if women are going through menopause, flexible working can remove the discomfort they might feel through having to endure their symptoms in the office.

There are countless benefits for offering flexible working alternatives, especially for women experiencing reproductive health issues. Applying this structure to the financial sector could allow a dramatic increase in female attraction and retention.

Provide neurodiversity support

There is a gaping gender gap in neurodivergent diagnosis and it’s causing women to feel exhausted and undervalued at work.  When it comes to ADHD for example, men often get diagnosed as early as 3 years old, whereas women typically won’t receive a diagnosis until their late 30s or 40s.

In addition to this, 61% of people with neurodiversity in the workplace say they experience stigma. Something has to change and it starts with the provision of comprehensive and effective neurodiversity support.

Through our partner Melios, at Fertifa we’re able to provide neurodiversity support as part of our employees benefits package. Each patient will have a different journey based on their needs and the benefits included in the package their employer has chosen. However, here is an idea of a neurodiversity journey for a Fertifa patient:

• Education: Book an initial consultation.
• Referral: Discuss a plan of action.
• Support: Submit your claims.
• After care: We’re here every step of the way.

With women often receiving a misdiagnosis and delayed diagnoses in general, it is vital that these issues are addressed, and changes are made. To ensure you aren’t losing top female talent in the financial sector, and more importantly that you’re creating environments where women can thrive, implement neurodiversity support and see the difference for yourself.

It is vital for the financial services industry to develop an inclusive culture that promotes gender equality and ultimately gender balance by enhancing reproductive health care benefits. To find out more about how Fertifa can support your employees and increase attraction and retention for women in the finance industry, book a call with our team today.