WOMEN'S MONTH
31 August 2019
The women of Satrix
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atrix is a strong South African brand in an investment management industry so dominated by men, it’s a welcoming fact that not only is the CEO a woman, but women make up about 50% of this team. This dynamic group of ladies have a depth of experience, qualifications and perceptivity that brings a very special angle to a business. All are members of the WE initiative (Women in ETFs) and Helena Conradie, CEO, serves on the board of WE for the EMEA region. Helena and COO, Jenny Albrecht, each have more than twenty years of investment industry experience, most of which spans specialised indexed investments. While their current focus is on driving the Satrix business, they have been involved in all aspects of index investing, from product development to portfolio management. They have passionately guided the direction of the Satrix brand over time, so that when the Satrix 40 ETF was awarded “The People’s Choice” for two consecutive years, it was certainly a highlight. This reflects the considered and empathetic approach the company has taken when positioning products and speaks to the very feminine quality of care which runs through the entire team. Surprisingly, most of these women
didn’t choose finance, it’s more likely that finance chose them. But once introduced, they knew that working in this fast-paced and rewarding environment was where they wanted to be. It isn’t, however, without its drawbacks and South Africa, like many countries, has a way to go before women feel complete equanimity in the workplace. When asked how it feels to be a woman in the workplace, Lauren Jacobs, Portfolio Manager and a mother of two, replied, “I saw a cartoon once where women and men, dressed in work attire, are at the starting block on a race track. The lanes in front of the men are clear but the lanes in front of the women are littered with various obstacles like laundry, cooking utensils, etc. Working women have much more to do than just attend to their work at the office and not all men have an appreciation for the mental load women carry other than their work efforts, yet women are as productive and efficient even with the challenges we face outside of the workplace.” There is an unspoken understanding among this ‘sisterhood’ that they bring empathy into the workplace and a deeper understanding of the unseen challenges women and men alike face outside of the office. This can bring a
level of much needed tolerance into a pressured environment. They all feel women may be better equipped to bring cohesion into teams of distinct individuals. Demands and joys of family and friends are also very important to these ladies as they strive for better work-life integration. Most of them would like more flexibility in the workplace without the concomitant scrutiny but they all have ways of letting off steam that are as diverse as they are. You would be surprised to
learn there’s a photographer, a flower arranger, an interior decorator and maybe not so surprising, a few readers among them too. So next time your ETF dividends arrive, you’ll know they have been invested, calculated, paid over and reinvested by these ladies! Left to right: Sunita Takurpersadh (Head of Operations), Thembeka Khumalo (Client Relationship Manager), Helena Conradie (CEO), Jenny Albrecht (COO), Lauren Jacobs (Portfolio Manager), Nonhlanhla Mphelo (Portfolio Manager)
What women would change about work if they could
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new report by Deborah Hargreaves of British think tank, High Pay Centre, entitled Women at work – designing a company fit for the future, seeks to determine what corporations would look like if designed from a woman’s perspective. “We seem to be waking up to the fact that the female approach, women’s views and characteristics such as inclusion and empathy are just as important as those of men and it is high time they were recognised,” Hargreaves says in the report’s introduction. Here are the report’s main findings: Gender stereotypes: Women encounter prejudice about the roles they adopt: men are seen as leaders and women as assistants. Current career structures can encourage women to adopt male behaviour to get on at work. The lack of representation of women in the tech industry is a particular concern as it means the male outlook becomes embedded in the algorithms that increasingly run our lives. Pay gap: The difference between men’s and women’s earnings remains 9.6% across the British economy, often because of job segregation – women are most represented at the lower levels. This means women are most exposed to the insecure employment conditions endemic for low-paid roles. Childcare costs in England are the highest in the OECD at 40% of a couple’s after-tax income. Caring and flexibility: Women are the main
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carers for children, elderly parents or spouses, which makes them more likely to work parttime, in job shares or flexibly. Flexible working is foisted on some women in low-paid roles while those in better-paid jobs can struggle to squeeze full-time work into part-time hours. Job-sharing is one answer, but this is not for everyone. The right to request flexible working has been enshrined in British law since 2014, although take-up has tailed off – women fear their careers will suffer. But some question whether jobs have to be this big or whether responsibilities could be divided differently. Different values: Younger women and men are demanding more from the workplace; their motivations vary from those of their parents. They are questioning the company culture that puts profits and shareholder returns as the main outcome of business. Progression: Women often do not get noticed for promotion to the top of companies and organisations because their male bosses are not looking their way. Some organisations are introducing mentors and a chance to try a top role. Women running their own businesses are already taking a different approach. But many are told a prerequisite for raising finance is to install a male chief executive. Biology: Menstruation and menopause are two of the great taboos in the workplace. The failure of managers to recognise their impact can lead to women feeling vulnerable at work.
The report’s conclusions: “The feminine corporation would put caring at its heart and work would fit around it, rather than the other way around,” says Hargreaves. “My manifesto for change would see a more human face put on the workplace.” 1. The organisation would put caring for children, relatives and parents at its heart. 2. It would offer a carer’s passport for all staff – including agency workers. 3. The workplace would help provide affordable childcare – either with an in-house creche or vouchers towards outside provision. 4. There would be a focus on agile working with a four-day week, flexible rotas, home working and job-sharing encouraged and facilitated at all levels. 5. The workplace would be inclusive and open to people from all heritages, disabilities and identities. 6. There would be no gender pay gap and mentoring would be available for all. 7. Equal numbers of men and women (with diverse backgrounds) would be promoted to all layers of management and senior roles. 8. Similarly, the same number of men and women would be on the board of directors. 9. The organisation would encourage a more ethical and sustainable way of working rather than a focus purely on profits and growth. 10. Rewards would be based on the broad values of the company rather than just individual performance.
