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Home Opinion

Is sexual harassment an issue in financial services?

Recently I was asked to respond to the announcement of the federal government’s inquiry into sexual harassment in the workplace and if the financial services industry was particularly at risk.

by Judith Beck
July 9, 2018
in Opinion
Reading Time: 5 mins read
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My experience for 25 years had been interviewing executives for high level positions and they were only going to tell me the positive.

In the past five years that FEW has been operating, I hear more about bullying, age discrimination and gender stereotypes than sexual harassment. We thought the only way to find out was to ask our FEW members.

X

In less than a week we had 120 responses to our survey. Here are the questions and summary of responses:

  • In the past five years, have you been sexually harassed in the workplace?

80 per cent said they have not been sexually harassed in the past five years (20 per cent said they had)

This means 23 women from this survey feel they have been sexually harassed in the workplace.

We asked respondents who answered yes to explain how they had been sexually harassed. Here is a breakdown:

  • Inappropriate comments made by men and women as well as clients
  • Inappropriate text messages
  • Inappropriate material being shown on the computer in the office in full view

It is important to note that no comments were made for anything more serious.

  • Have you observed anyone being sexually harassed within your organisation?

74 per cent said they had not observed anyone in their office being sexually harassed, however 26 per cent had.

This means 30 women observed others being sexually harassed in their organisation.

Here is a breakdown of what they observed:

  • Several comments about after work drinks turning into flirtation and drunk employees being taken advantage of
  • Inappropriate comments and boundaries regarding personal space/lingering touch
  • Comments on appearance and bad taste jokes
  • Comments about both male and female staff stalking other staff
  • Conference behaviour goes too far, especially when alcohol is involved
  • Do you feel sexual harassment is a major problem within the financial services industry?

63 per cent feel that sexual harassment is not a major problem within the financial services industry. However, 37 per cent feel it is.

Comments for this included:

  • They feel the culture is changing for the better, however still dominated by older men who don’t have filters
  • Many comments were focused on more education on what is acceptable and what isn’t, also what is acceptable to one may not be acceptable to someone else
  • Many comments on conference behaviour, which is seen as a problem
  • Do you feel that your organisation has addressed the issue sufficiently and have the policies and procedures in place addressed any issue quickly?

75 per cent felt their organisation had addressed the issue sufficiently and has policies in place to address quickly, while 25 per cent felt their organisation hadn’t.

Here is a breakdown of additional comments:

  • Respondents felt employees are more empowered to flag inappropriate behaviour, however they felt there should be someone internal who they can go to who specialises in how to respond and who will keep their confidentiality. They do not want to go to HR or their manager
  • While processes are in place, the view of what is or isn’t sexual harassment differs and more education is required
  • Most felt that their companies have zero tolerance and good processes in place, especially those respondents who said they worked for a large financial institution
  • Several comments on more training for men and women on what is appropriate, and this should be an online course that everyone should be required to take every two years and at their induction coming into the organisation

In assessing the survey and additional conversations I have had with members during the week (which wasn’t easy being end of financial year!), one thing is for sure: everyone is confused about what is or what isn’t sexual harassment. Where are the lines drawn? Just because there is a policy in place, is it being actioned and are you sure everyone in your organisation gets it?

Here are my top three tips to improving the awareness and process in any organisation:

  1. Clearly define what sexual harassment is. Have an education course that is mandatory at induction and every two years. Online, one-hour and with the staff member acknowledging their understanding with multiple choice questions to engage and real-life video examples of what happens in the work place. Make sure there are no grey areas.
  2. Have a go-to person internally who specialises in handling the situation and assessing sexual harassment. Someone who will keep information confidential and will act as an adviser to the employee on what to do next. If a smaller organisation, this person could be an external source, however it needs to be clear who they are, and confidentiality must be guaranteed.
  3. Look at a specific policies for work functions/conferences etc regarding alcohol and what is and isn’t acceptable behaviour. Ensure employees know what is work time and what is personal time.

The government inquiry will identify examples of existing good practice, make recommendations for change and provide a way forward for preventing sexual harassment in the workplace.

I believe the inquiry will tell us something we already know. Hopefully the results will focus on more of what we can do going forward to prevent it in the future and ensure awareness and education for everyone in every industry.

Judith Beck is CEO/founder of Financial Executive Women and was the former chief executive of Financial Recruitment Group.

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Comments 35

  1. Anonymous says:
    7 years ago

    “They feel the culture is changing for the better, however still dominated by older men who don’t have filters”

    A baseless generalisation based on a person’s sex. Presumably, this is what the report is targeting?

    Reply
  2. Steven says:
    7 years ago

    I’m outraged. Not a single lesbian, gay, transsexual or non gender view was gathered! Shocking.

    Reply
  3. Anonymous says:
    7 years ago

    PC gone wild, I’m too scared to compliment anyone nowadays especially women. Don’t look at them…. your stuck up, look at them….your a sleeze, god forbid if you touch them in anyway whatsoever even just a simple gesture.
    Have a cruise ship start sinking and watch them throw out all the feminist equality shite and start screaming women and children first!

    Reply
  4. Anonymous says:
    7 years ago

    NOW – you can see why so many ladies on sexual dating sites like Tinder, RSVP, Oasis, Red Hot Pie, sites… it’s safer for the men to propose at these places rather than risk a legal sexual harrassment lawsuit….mmmmm …..

    Reply
    • Anonymous.0 says:
      7 years ago

      Men to ”propose” to women on Tinder, RSVP, Oasis, Red Hot Pie…? Why would you want to ”propose” to women on those sites? Proposition women on Tinder, RSVP, Oasis, Red Hot Pie for sure, many might be looking for a (very) short term relationship. But proposing on-line on hook-up sites, extremely romantic but might appear a little weird and desperate. Hope this helps on you journey to find love…

      Reply
      • Anonymous says:
        7 years ago

        ha ha – don’t us those sites . safer than a lawsuit. there are professional ladies on those sites too…so I hear.

        Reply
        • Anonymous.0 says:
          7 years ago

          “Professional ladies”? You mean women who have degrees and work as doctors, lawyers, accountants, etc.?

          Reply
  5. Anonymous says:
    7 years ago

    Hang on.
    80% of the 120 women(96) who responded to the survey claimed they had not been sexually harassed in the last 5 years…or possibly never….and 20% responded (24) claimed they had been in the last 5 years.
    But when the same group were asked ” Do you think that sexual harassment is a MAJOR problem in the financial services industry”, there was an 85% increase (37%) in the percentage of respondent women who claimed it is , versus the 20% of the same group who had claimed they had experienced some sexual harassment in the last 5 years.
    Interestingly, the 80% who had never experienced sexual harassment in the last 5 years then decreased to only 63% who didn’t think it was a major problem, but 37% thought it was !!
    Does this shift indicate that a subconscious gender group protection mentality exists rather than an indication of the true and actual experience or evidence ??

    Reply
    • Anonymous says:
      7 years ago

      I have never been harassed in the workplace. Nor have I personally witnessed someone being harassed in the workplace or by a work colleague. I have however had victims tell me there story. Therefore If I completed the survey I would say there is a problem in the sector.

      Reply
      • Anonymous says:
        7 years ago

        Did you investigate the other side of the story too or just accepted one side of the story to form the basis of your opinion ?
        You confirm that you have never been harassed, never witnessed any harassment occurring in the workplace , but state there is a problem in the sector based on a one sided story?
        I am not saying that there are not incidences of harassment that occur from both sexes however, it would only appear to be fair and equitable to assess both sides of a story or incident before forming an opinion and ensuring whether the claim of harassment was genuine or potentially designed out of the desire to cause reputational or personal damage to another person.

        Reply
  6. Anon says:
    7 years ago

    Plenty of harrassment from female managers as well

    Reply
  7. Childless says:
    7 years ago

    My missus, who also works in finance, feels more discriminated against for choosing to not have kids in comparison to gender… Relentless questions about when it is going to happen from other women in the office etc.

    Not to mention doesn’t get the luxury of getting in late, leaving early for school run or sick days on command due to having children.

    She doesn’t make a big deal out of it but that issue will never get any airtime. Not a lot of ‘equality’ between those who choose to and those who choose to not have children.

    Reply
    • Anonymous says:
      7 years ago

      In my wife’s experience in more than one workplace, senior female executives without children were the one’s who engaged in harassment and “bullying” behaviour with unreasonable expectations of females (and males) with children wrt being contactable & completing “urgent” work at any time out of office hours because they have nothing else in their life except their employment. Other females have expressed the same view. It’s called the “Shemale” syndrome. Look it up (PS: I studied Gender Issues in Management, so I do a an idea of what I’m talking about.

      Reply
      • Childless says:
        7 years ago

        Interesting feedback. So because someone chooses to have children they are excused from any additional work expected from someone with children?

        Can they then cry discrimination when the person who did the extra hours gets the promotion?

        Reply
        • Anonymous says:
          7 years ago

          your saying DINK or single females give married females a hard time..?
          I believe that. Men call these females “women with balls”…
          yeah, we know what you mean. its true.
          career minded females can be bullies…as bosses….

          Reply
    • Happyfamilies says:
      7 years ago

      Childless and ignorant.Those who choose to have children still have to do the same amount of work even when they have the ‘luxury’ of getting in late after dropping kids at kindy. I think I know why your missus chose not to have kids…with you.

      Reply
  8. Jerry Seinfeld says:
    7 years ago

    Men hunt and women nest

    Reply
    • Anonymous says:
      7 years ago

      George was not a great hunter…

      Reply
      • MGR says:
        7 years ago

        GOLD

        Reply
  9. Anonymous says:
    7 years ago

    PC warrior in the house

    Reply
  10. Anonymous says:
    7 years ago

    It is entirely possible or probable that some males who have been subject to unwanted advances, flirtation or touching by female conference attendees that have been intoxicated would not report it and they would not want to bring attention to it or alternatively not wish to appear weak or vulnerable in front of other male colleagues. It is also entirely probable that some men who experience this behaviour appreciate or enjoy the attention just the same as some females may and others may not.
    This is not saying this is right in any way, but it is the reality of human intercourse on a variety of levels.
    As the survey sample was 120 women and 80% responded that they had not been sexually harassed in the last 5 years, it would be interesting to compare with a male sample group of 120 what they actually saw as sexual harassment versus the female sample group.

    Reply
  11. Anonymous says:
    7 years ago

    Lets get Jordan Peterson as main platform speaker at the next annual conference.

    Reply
  12. Anonymous says:
    7 years ago

    #MenToo

    Reply
  13. Anonymous says:
    7 years ago

    what about sex in the office in large cities like melbourne ..?
    it a rampant disease…..heaps of it going on….
    I know females and males alike do it frequently….
    have a fling in the storeroom…or the car park..or back in the office late at night…

    Reply
    • Anonymous says:
      7 years ago

      Which offices, I’m looking at changing companies and want a few perks…

      Reply
  14. Anonymous says:
    7 years ago

    the question then becomes is the social function a workplace.,.?
    so maybe the ladies should not dress like they are attending a disco..?
    perhaps these issues at social events at conferences are not “harassment” – its not really like in the workplace is it..? (in the office) – If its a social function and alcohol is involved and she’s dressed looking like a disco date, – then what is a man to think when he’s intoxicated.?> So traditionally a male is a hunting prowness – the hunter – so the hunted (female) gets hunted by (the male) . (Sometimes it’s the other way round where the female makes a “pass” or flirt or some indication that some intimate pleasure might occur later..”)…Misleading and deceptive..? .Perhaps the rules need to be changed so that its all off limits all the time….??? ..including 9-5..??? For many years as I have known, social functions at different types of conferences – both the female and the male – (married and not married) – see it as an opportunity to misbehave when outside and away from home – so, how do you know..? it gets tricky if you start saying its wrong,.. to apply to both sexes I think… Because of the dangers of sexual harassment allegations in the workplace that exist – Honestly I don’t go to social functions anymore because I refuse to put myself in a situation where I maybe set up an have allegations made… and I know of other professional males that think the same. ..
    The question now becomes – what constitutes a workplace..?
    it’s a bit of a complicated issue i think….like, so your walking back to the hotel room and your still at the venue….and suddenly…..where is the line drawn.,,???…
    But it is wrong for a man or woman to touch or speak inappropiatley to the opposite sex – if its strictly business – we all know that..

    Reply
  15. Anon says:
    7 years ago

    Great article and I can’t wsit for all the make comments about how it’s a two way street. It’s far from it. As a male you can walk out the door and not have to worry about someone making a sexual comment and laughing it off, feeling they can touch you inappropriately and then laugh it off or even say things to you in jest.
    I had an adviser up until 5 months ago think it was funny to pinch my backside until one day I pulled him up on it and told him how uncomfortable and inappropriate his behaviour was. He was quite shocked with the confrontation but we need to stand up for ourselves no matter what business we may lose! We’re better than that behaviour has to change!

    Reply
    • Anonymous says:
      7 years ago

      did the male touch you while at work..? that’s definitely wrong.
      most males know that. Maybe you let him do it to often and was soft on him the first time,,??
      for 5 months..? I would of told him the 1st time – and i’m a male..!!
      confront him..? you should of firmly and politely said to him the first time…
      ” we both know that you should not of done that…please don’t do it again”…
      im not sure how confronting you were….”shocked he was”?? did u yell at him? or say it privately.?
      and he should of known it is not on in the workplace – it’s not on….unless…?
      some times men talk about other men behaving – then they copy the behaviour on the same lady….
      I know this happens…maybe ask him “what does he think he was doing..”..?
      you would be surprised how some men talk about females….and some times its FOS…LOL.
      i’m not defending the man..either !! i’m asking why would he do it..?
      that – as a male – is what i want to know….!! …why..?

      Reply
  16. Anonymous says:
    7 years ago

    Judith Beck – i’ve had inappropriate comments made to me by female professionals, (at conferences) – putting me down and pushing me aside at professional conferences – as a male – rude and bullying to be precise. Telling me my professional behaviour is unprofessional and being rude to me for NO reason. Total ignorance. As apart from a power play of some sort…. – then having female BDM”s flirt at with me while on professional conferences – to get my business. from me. (throwing their arms around me) – As a male….I refuse to do business with professional females that behave like this… I don’t feel like I get treated equally by professional females as compared to my male peers and professional colleagues do approach me. Gender discrimination exists. . I’ve been bullied and ignored several times. (and put down and ignored in social media). ..by well known professional females.

    Reply
    • Anonymous says:
      7 years ago

      Is this in the ”best interest” of your clients?

      Reply
      • Anonymous says:
        7 years ago

        clients best interest – yes – but not mine- I just use another BDM from same product provider….LOL…a male.

        Reply
  17. Anonymous says:
    7 years ago

    Good article Judith. You quite rightly point out that alcohol and conferences are often the trigger for these events. I have been told by a number of female BDMs who have been on the wrong end of very inappropriate behaviour by advisers. Unfortunately, they have felt too embarrassed or worried about their sales relationships to speak up. Advisers who engage in this behaviour are largely self-employed and don’t understand the consequences for them in engaging in this behaviour. Dealer Groups and product manufacturers have a duty of care to clearly articulate and enforce for strong penalties for such behaviour.

    Reply
    • Anonymous says:
      7 years ago

      largely self employed..? wtf..? you stalking them …???
      ….so what happens when a female BDM pinches or touches another female BDM on the bum..? lol…i’ve seen it happen….a little slap and a little giggle…????

      Reply
    • Anonymous says:
      7 years ago

      “Largely self employed” !!!!….that seems an awful lot like stereotyping and discrimination to me !
      I can tell you that I have seen many female and male employees and middle management not being backward in coming forward once the social side of the event was cranking and the corporate credit card was being waived…however, the vast majority I have seen have always seemed to play within reasonable boundaries. There is obviously a line between fun and enjoyment and harassment, but that line for some has possibly become so very faint that crossing over it could be fraught with danger.
      The problem lies within the boundaries of work and social and if you are an employee representing your company effectively 24/7 at a 3 day conference, then I assume it is considered that you are working the whole time.
      What happens between consenting and responsible adults is no-one’s business but their own as long as one party is not harassing or using influence or power upon the other.

      Reply
      • Anonymous says:
        7 years ago

        lol . love this.

        Reply

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