In a sweltering London last week, two critical convenings took place that signaled a shift in how the investment industry is tackling one of its biggest talent challenges: retaining and advancing women. The Women in Investment Forum, hosted at the M&G office, and the Talent & Culture Advisory Committee meeting of the Investor Leadership Network (ILN) both brought together senior leaders committed to addressing what’s often referred to as the “mid-career cliff”: the alarming rate at which women exit the industry before reaching leadership roles.
These meetings weren’t just about awareness. They were about clarity, commitment, and a shared determination to build a more resilient, future-ready investment sector. At Diversio, we were proud to contribute both thought leadership and data insights to these conversations, helping turn intangible challenges into measurable actions.
The Mid-Career Cliff: A Wake-Up Call
I opened the Women in Investment Forum by naming what many in the room had long experienced but rarely articulated: despite achieving near parity in entry-level hiring, the investment industry loses a disproportionate number of women mid-career. This phenomenon, the mid-career cliff, is not just a talent issue. It’s a systemic leak in the leadership pipeline, driven by factors like inflexible work environments, lack of visible sponsors, and outdated leadership models that reward conformity over diversity of thought.
As Amy Hepburn, CEO of the Investor Leadership Network, aptly put it, “This is not another opportunity to admire the problem.” And indeed, the tone of the event was markedly different from many previous forums. The leaders in the room were not there to listen passively; they were there to design solutions.
Speakers like Katrina Beechey from CPP Investments reminded us that the next generation, especially Gen Z, expects more than statements. They expect substance. Her research shows young women are already watching which firms align with their values, and they are making career decisions accordingly.
Amanda Pullinger of Global Female Investors emphasized the often-overlooked barriers that women face when re-entering the workforce after a career break. Her call to action was clear: returnship programs must be institutionalized, not treated as side projects or charity work.
Stephanie Niven of Ninety One spoke to the critical role of data. “What gets measured gets done,” she said, challenging firms to embed gender equity metrics in decision-making processes at every level. Meanwhile, Christine Hockley of the British Business Bank spotlighted policy levers like the Investing in Women Code as tools for systemic change, provided they are backed by real commitment and usage.
These weren’t theoretical discussions. They were grounded in lived experience, and every insight shared was paired with a call for implementation.
Culture as a Competitive Advantage
A few days later, the Talent & Culture Advisory Committee picked up the baton, with a laser focus on how culture and talent retention intersect with financial performance. At Diversio, we shared our latest analytics on retention risk, demonstrating how organizations with inclusive leadership, transparent career paths, and manager accountability are far more successful in retaining top talent, particularly mid-career women.
The key takeaway? Culture is no longer “nice to have.” It is a fiduciary imperative. Attrition, especially among high-potential women, is expensive, disruptive, and entirely preventable with the right strategies. We introduced a methodology to quantify employee stickiness using real-time feedback and predictive analytics. Firms can now identify at-risk populations before they exit, target interventions more precisely, and measure the ROI of inclusion in real business terms.
This message landed clearly: if you’re not measuring culture, you’re missing risk.
Facing Headwinds, Staying the Course
Both meetings also acknowledged the broader political and social context. In our “State of the Nation” discussion, the Advisory Committee surfaced growing polarization, particularly in the U.S., where backlash has created a chilling effect on DEI initiatives. Yet, we also noted encouraging progress in regions like Australia, South Africa, and across Europe, where accountability frameworks are still moving forward.
Rather than retreat, we asked: how do we future-proof inclusive cultures?
The answer lies in making inclusion operational. That means training managers to recognize and interrupt bias, embedding sponsorship into performance expectations, ensuring transparency in promotions, and treating inclusion as a measurable business lever, not just a moral one.
When defined clearly, inclusive cultures are more resilient. They survive political shifts and economic downturns because they are built into the infrastructure of how a firm operates.
From Conversation to Action
Both the Forum and Advisory Committee meetings emphasized action. At the Forum, participants joined roundtable discussions to co-design practical next steps, ranging from flexible work redesign to building formal sponsorship networks and setting accountability metrics for leadership.
Each table presented two immediate actions that their firms could take, contributions that will inform ILN’s broader strategy for gender-diverse leadership. The goal is to build a living roadmap: one that evolves through shared learning and real-world experimentation.
At the Advisory Committee, the conversation extended into structural solutions: aligning incentives for middle managers, revising promotion criteria, and setting clear benchmarks for progress. The consensus? We need a combination of regulatory guidance, benchmarking, and internal accountability to move from strategy to results.
Looking Forward: Making Inclusion Core Business
As we look ahead to Q4 and into 2025, the investment industry stands at an inflection point. At Diversio, our role will be to continue supporting ILN members and other industry leaders through tools that bring visibility and clarity to complex challenges. This includes building benchmarking frameworks, delivering predictive analytics, and providing real-time dashboards that track progress.
Inclusion is no longer a values-based add-on. It is core business. It is a pathway to performance, innovation, and resilience. And the firms that understand this, who move from words to metrics, and from metrics to action, will be the ones that attract, retain, and advance the best talent.
A Final Word
As I looked around the rooms at both events, filled with senior women I admire, male allies who are stepping up, and firms hungry for change, I felt something rare in our industry: momentum.
So, I leave you with a challenge:
- What are three things your firm can do this quarter to close the mid-career gap?
- What data will you use to measure progress?
- And how will you ensure that culture is not a buzzword, but a blueprint?
Start there. Then keep going. Because inclusion is not just the right thing to do; it’s the smart thing to do. And now is the time to lead.
To learn how Diversio can support your inclusion strategy, reach out to us at hello@diversio.com.
