NFU on International Women’s Day: Bridging gaps and breaking barriers

As we approach International Women’s Day, it is a crucial time to reflect on the strides made towards gender equality in the Nordic financial sector, as well as the significant journey that still lies ahead. Despite being global leaders in gender equality, the Nordic countries face persistent challenges in eradicating the gender pay gap, ensuring career advancement opportunities, and fostering an environment where combining career and family life does not penalise one gender over the other. NFU’s Nordic affiliates are dedicating significant efforts to bring attention to this crucial subject.

The significance of International Women’s Day: reflecting on progress and pathways forward
International Women’s Day serves as a pivotal moment for reflection and action within the financial community and beyond. On March 8th, Samtök starfsmanna fjármálafyrirtækja (SSF) will be organising an event in Reykjavik. Simultaneously, Finansforbundet Norge and Finansforbundet Danmark will be conducting seminars in collaboration with the respective employers’ associations within finance, taking place in Oslo and Copenhagen. The events will feature in-depth discussions on parental leave, working from home, and the financial impact of striving for gender equality. These forums are testaments to the collective desire for change, aiming to provide invaluable insights into the multifaceted challenges faced by women in the workforce. They pave the way for actionable strategies that can be implemented across our sectors to foster a more equitable landscape.

Analysing the gender pay gap: a closer look at Sweden’s financial sector
The persistent wage disparities within Sweden’s financial sector, highlighted by ”Lön hela dagen” the equal pay movement and underscored by the findings in Finansförbundet’s newly released gender equality report Jämställdhetsrapporten, serve as a stark reminder of the work that lies ahead. The fact that women’s wages remain 9.9% lower than men’s and that the wage gap has ceased to narrow in recent years is a clear indicator that the journey towards equal pay is far from over. This stagnation calls for a renewed commitment to addressing these inequalities head-on, ensuring that pay equity is not just an objective to aspire for but an actual reality for everyone in the sector.

Past discrimination and modern challenges: lessons from Denmark
Finansforbundet Denmark is reflecting on gender discrimination through a series of articles, including Brita Kierrumgaard’s experience with gender-based restrictions from 1959, which offers valuable insights into ongoing challenges and progress made towards gender equality. While such instances may appear outdated, the repercussions of discrimination persist, evident in managerial pay gaps and biases against women’s career progression. The changing views on part-time work and family versus workplace gender roles, as demonstrated by Sidsel Marie Løvvang’s story, highlight the sociocultural challenges faced when deviating from traditional gender roles, both within the family and the workplace. It is a reminder that our efforts must be continuous, adapting to the changing societal and economic landscapes to ensure that gender equality is not just a goal but a foundational principle.

Engagement and advocacy: the role of the trade unions
Achieving gender equality in the workplace requires a collective effort from every level. NFU, together with our affiliate unions, advocate for the implementation of equitable policies that ensure equal pay, career advancement opportunities, and work-life balance on all levels. Pooling our resources and influence, we aim to drive meaningful change that benefits all employees in our sector. By fostering an environment that encourages our member unions and individuals within the industry to actively participate in discussions and initiatives aimed at bridging the gender gap, we can collectively move the needle towards a more inclusive and equitable future.

The way forward
As we gather insights from upcoming seminars and reports, let us use this knowledge to advocate for and implement changes that promote gender equality. It is time for the Nordic financial sector to not only celebrate the progress made but also to confront the challenges that remain with courage and a commitment to action. Let us strive for a workplace where gender no longer dictates one’s career trajectory or salary. Together, we can bridge the gender gap and foster a truly equitable environment for all.