MPs have been informed that the #MeToo movement has not resulted in any significant changes within the financial industry in the UK. While sexual harassment may no longer occur within the office, it is still prevalent in conferences and work trips.
A report on confidential meetings conducted as part of the Treasury committee’s investigation into sexism in the financial sector revealed that although some women reported an increase in inclusivity in their workplaces in recent years, the majority still perceived the City of London as a “boys’ club” where inappropriate behavior and sexism are prevalent.
The female individuals who testified to members of Parliament stated that sexist remarks have become sneakier and more harmful.
Members of Parliament were under the impression that the #MeToo movement had not resulted in any significant changes within City companies. During the November hearing, the majority of women who testified stated that sexual harassment was still prevalent, either through their own personal experiences or through hearing about it from their colleagues.
In 2017, there was a surge in a movement where women from various industries worldwide started sharing their personal experiences of sexual harassment on social media.
During the committee’s investigation, women who were interviewed reported noticing a significant change – perpetrators now specifically target women during work-related events such as conferences, drinks gatherings, and business trips.
According to interviewees, male coworkers who saw inappropriate actions were often sympathetic towards the victims in private, but seldom spoke out or took action to stop it. They mainly assisted victims in avoiding individuals known for misconduct, rather than directly addressing the behavior.
According to women, non-disclosure agreements (NDAs) are often used to cover up issues and protect a company’s image. This results in victims being unable to speak out about their experiences and removes any motivation for companies to address and prevent sexual harassment.
The committee observed that although there has been a decrease in blatant sexism in the workplace, such as inappropriate jokes, women still believe that misogynistic attitudes are prevalent and that behaviors have become sneakier and more harmful.
While some argued that younger male coworkers were more accommodating, they swiftly adopted the actions of older, accomplished employees. This often entailed participating in a drinking tradition, which could create pressure for non-drinkers to conform. Unfortunately, these events were also where the most inappropriate behavior towards women was observed.
The female individuals who shared their perspectives suggested suggestions to address ongoing gender discrimination. These recommendations include linking compensation and bonuses more closely to diversity and inclusion initiatives, as well as mandating companies to disclose the use of confidentiality agreements in sexual misconduct cases.
Additionally, they are advocating for the enforcement of severe consequences or punishments for individuals who engage in sexual misconduct, as well as those who enable or tolerate it. They are also urging regulators to consider instances of sexual misconduct when evaluating whether employees are suitable for high-level positions.
Members of Parliament are anticipated to inquire about the measures that City regulators intend to take in order to safeguard women working in the industry. This will occur during the committee hearing on Wednesday afternoon, where both the chief executive of the Financial Conduct Authority, Nikhil Rathi, and the boss of the Prudential Regulation Authority, Sam Woods, will be present.
Source: theguardian.com
