La diversité, un levier de performance pour l’entreprise de demain. En effet, elle favorise l’innovation, la créativité, la productivité mais aussi l’attractivité des talents. Certes, la diversité ne se limite pas à la question du genre, elle recouvre de nombreuses facettes.  Ainsi, Céline Piton et Maud Nautet aborderont l’effet de la parentalité sur la carrière des hommes et des femmes. Ensuite Patrick Devis nous expliquera pourquoi l’objectif visé par la Gender/diversity au sein de Belfius est-il si important. Sarah Ndayirukiye témoignera de l’expérience de la BNB en matière d’inclusion et de diversité. Enfin Claire Godding conclura notre webinaire en nous expliquant pourquoi il est si important pour le secteur financier d’investir dans la diversité et l’inclusion.

3. How does parenthood
affect careers of
women and men?
Maud Nautet & Céline Piton
Belgian Financial Forum
26 April 2022

4. Convergence of employment rate between women and men over time but still a
large gap when considering full time equivalent
Source: Eurostat.
4
35
40
45
50
55
60
65
70
75
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
FTE employment rate Men Employment rate Men FTE employment rate Women Employment rate Women
(in % of the corresponding population aged between 15 and 64 years)

5. Parenthood as part of the
remaining gender gap?

6. A child penalty for women, a child bonus for men
Source: LFS microdata, authors’ computations based on treatment effect of a propensity score matching, controlling for age, region of residence, education
level, marital status and year of the survey, the reference group being people without children.
6
-3 pp
+5 pp
(impact of having at least one child in the household on the employment rate, for people aged between
20 and 64 years, over the period 1998-2019)

7. Low-educated women (temporarily) leave the labour market, high-educated
women adapt their working time
Source: LFS microdata, authors’ computations based on treatment effect of a propensity score matching, controlling for age, region of residence, marital status,
sector of activity, occupation and year of the survey, the reference group being people without children. Separate estimations for the three level of education
7
-10
-8
-6
-4
-2
0
2
4
6
8
10
12
14
Impact of
parenthood on
employment
Impact of
parenthood on part-
time work
Low-educated Middle-educated High-educated
-10
-8
-6
-4
-2
0
2
4
6
8
10
12
14
Impact of
parenthood on
employment
Impact of
parenthood on part-
time work
Men Women
-10
-8
-6
-4
-2
0
2
4
6
8
10
12
14
Impact of
parenthood on
employment
Impact of
parenthood on part-
time work

8. Glass ceiling
Due to motherhood or other barriers?

9. A gender gap for jobs with supervisory responsibilities
Source: LFS microdata, authors’ computations. Figures in the text are based on treatment effect of a propensity score matching, controlling for age, region
of residence, marital status, level of education, sector of activity, occupation and year of the survey, the reference group being people without children.
9
0
5
10
15
20
25
30
35
40
20-24 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64
Men Women
• Being a mother is detrimental: -1 pp BUT the
penalty disappears when we control for sector
and/or occupation
• Women self-select into sectors or
occupations with less supervisory
responsibilities
• Being a father is a positive signal for men:
+3 pp compared to a man without children
• Controlling for personal characteristics: women
are 14 pp less likely to have supervisory
responsibilities than men
• Within sector and for a certain occupation,
the gap is still 10 pp
(proportion of workers with supervisory responsibilities for each age category, 2006-2019)

10. Women are less likely to become (certain type of) managers: not linked to
motherhood per se but to related choices (sector and work time)
Source: LFS microdata, authors’ computation are based on treatment effect of a propensity score matching, controlling for age, region of residence, marital
status, level of education, sector of activity, part-time, having children and year of the survey, the reference group being men.
10
Other services managers
Retail and wholesale trade managers
Hotel and restaurant managers
Professional services managers
ICT services managers
Industry managers
Sales, marketing and development managers
Business services and administration managers
Managing directors and chief executives
Legislators and senior officials
• 8% of working people are managers
and among them 33% are women
• Controlling for personal characteristics
and sector of activity leads to a
gender gap of -4 pp
• Controlling for part-time reduces it
again to -2 pp
Gender gap among managers
(in percentage points, controlling for personal characteristics, sector of activity
and part-time, 2011-2019)

11. A story of preferences?

12. Do different choices reflect different preferences?
12
Preferences
Comparative
advantage
Social constraints
and conditioning
Stereotypes

13. Different choices at school translate into different sector of activity
Source: Eurostat.
13
(orientation of tertiary education, over and underrepresentation of women by field of study in percentage points, 2019)
-50 -40 -30 -20 -10 0 10 20 30
Information and Communication Technologies
Engineering, manufacturing and construction
Natural sciences, mathematics and statistics
Services
Business, administration and law
Total
Arts and humanities
Agriculture, forestry, fisheries and veterinary
Social sciences, journalism and information
Education
Health and welfare

14. The distribution of home and care duties are gender-based
Source: Statbel, picture from clemi “Déconstruire les stéréotypes sexistes, ça s’apprend!”
(https://www.clemi.fr/fileadmin/user_upload/Communique_de_presse_Zero_Cliche_2018.pdf)
14
(gender time gap in percentage points, 2013)
-30 -20 -10 0 10 20 30 40 50
Leisure
Paid work
Travel
Others
Social life
Study
Sleep and rest
Personal care, eating and drinking
Child care and education
Housework

15. Are these policies really helping to reduce gender gaps?
15
Quotas Career breaks
Thematic
leaves
Telework
Flexible
working hours
Childcare

16. Conclusions

17. There is still a long way to gender neutrality
17
• While low-educated mothers leave the labour market, the high-educated adapt their
working time
• Combined with social norms, this leads to lower chances to get supervisory responsibilities
and to become top managers
In a feminized labour market, becoming a mother has a large negative impact
For men, being a father is either neutral or a plus for their career
Current policies implemented to reduce gender gaps have adverse effects
Changing social norms would play a significant role but is a long-term process

18. 26 April 2022
Many thanks
for your
attention!
Belgian Financial Forum
This analysis is published in the NBB
Economic Review
https://www.nbb.be/doc/ts/publications/economicreview/
2021/ecoreviii2021_h7.pdf

19. 1

20. Belgian Financial Forum
Gender Diversity
26.04.2022
Patrick Devis
CHRO Belfius

21. 3
MESSAGE PRINCIPAL EN 1 PHRASE
ALL Pop totale concernée 03.2022 : 4.796 HC KEY Pop totale concernée 03.2022 : 120 HC
MANAGER Pop totale concernée 03.2022 : 498 HC SE Pop totale concernée 03.2022 : 125 HC
LEGENDE
% de femmes dans la pop. totale concernée
Objectif Belfius 2025 (44%)
Objectif Belfius 2022 (38%)
GENDER DIVERSITY
BELFIUS BANK - SITUATION 03.2022
3
47% 47% 47% 47% 46% 46% 46% 46% 47%
10%
20%
30%
40%
50%
60%
24% 25% 24% 27% 29% 31% 34% 36% 36%
10%
20%
30%
40%
50%
60%
17% 20% 21% 20%
24%
27% 29% 30% 30%
10%
20%
30%
40%
50%
60%
19% 19% 22%
28%
32% 32% 33%
39% 42%
10%
20%
30%
40%
50%
60%

22. AT BELFIUS
WE BELIEVE IN
THE POWER OF DIVERSITY
FOR (AT LEAST)
5 REASONS
4

23. 5
5
IS EQUAL WORKFORCE
ON TEAM PERFORMANCE
CROSS-GENERATION MINDSET
WORLD IN WHICH WE OPERATE
WELLBEING X PERFORMANCE

24. 6
6
Today’s workforce is an equal workforce
> Balanced teams, combining male
& female talent, baby boomers,
generation X & Y, nationalities,
competences, … are key to our
success @ Belfius
> The meeting of different people
in our innovative workplace brings
challenges

25. 7
7
The impact of diversity on team performance
> Expect conflict, but if
managed well, outperform
homogenous teams
PRODUCTIVITY
TIME
Diverse teams
Well managed
Homogenous teams
Well managed
Performing
Norming
Storming
Forming

26. 8
8
What counts is the mindset cross-generation
> Every generation has it’s
added value and difference in
age are not important
> At Belfius we look for positive
ways to turn them to our
advantage, inside and outside
with multiple initiatives

27. 9
9
Cross-culture reflects the society in which we operate
> Organizations reflecting the
diversity of their context
better understand their
customers needs
22,82% 35,93% 41,25%
0% 20% 40% 60% 80% 100%
Belge
d'origine
Belge
Belge ayant une origine
étrangère
Distribution of the population of the brussels capital region by origin
(18-64 year, 01.012021)
Source: www.statbel.fgov.be
Non-belge

28. 10
10
By deploying the principle: wellbeing x performance
Diversity
Wellbeing Performance
INCLUSION

29. We evolve to an inclusive environment and
we take actions towards inclusion
11

30. 12
• Benefits from the sponsorship of top
management;
• Is not just an internal process, it is customer and
business oriented;
• Addresses the following priorities:
✓ gender diversity;
✓ generational diversity and;
✓ profile diversity.
• Is based on guidelines and measurable objectives;
• Works on both soft and hard measures;
• Aims to strike a balance between walk & talk.
Our approach (1/2)
The global approach that aims to make
Belfius an increasingly inclusive
organization:

31. 13
Our approach (2/2)
The global approach that aims to make
Belfius an increasingly inclusive
organization is based on 4 levers:
Structure the approach
In addition to the Steering, which has been in place since
2015, various initiatives are taken to increase inclusion:
ambition, alignment, decision, action and communication.
Empowering managers
Setting up a recurrent monitoring system to follow up,
analyse and take the necessary measures/actions to
achieve the objectives set for 2025
Bringing the concept of inclusion to life
To ensure that the employees take ownership of it,
develop it and make Belfius evolve into an ever more
inclusive company. This is done by building on its DNA and
taking into account its specificities and priorities
1
2
Inspire & be inspired
To give Belfius the most inspiring and concrete image
possible by illustrating "the power of Diversity".
2
3
4
GOVERNANCE
ANALYTICS
INT COMM
EXT COMM

32. 14

33. Belgian Financial Forum
Gender Diversity
26.04.2022
Patrick Devis
CHRO Belfius

35. Les quatres missions de la BNB
2
La diversité, un levier de performance pour l’entreprise de demain

36. LA DIVERSITÉ À LA BNB :
LA CERISE SUR
LE GÂTEAU?
3

37. Le business case Diversité & Inclusion à la BNB
La diversité, un levier de performance pour l’entreprise de demain
Attirer de nouveaux talents
Permettre à chacun de se developer
Augmenter l’intelligence collective
Etre reconnu par nos pairs
Garder la confiance du public
4

38. D&I : un thème au coeur de la mission, de la vision et des valeurs de l’entreprise
5
AMÉLIORATION PERMANENTE
DURABLE
TALENTS
ALLIANCES
ESPRIT DE CRITIQUE
IMPACT
EXPERTISE
CURIOSITÉ
ACCOUNTABILITY FUN@WORK
RENDRE COMPTE
SORTIR DE NOTRE « ZONE DE CONFORT »
INFLUENCE
AUTONOMIE
OUVERTURE
DIVERSITÉ
VALEUR AJOUTÉE ACTEUR DE RÉFÉRENCE
FIABLE
DÉBAT
ORIENTÉ VERS LE CHANGEMENT
PARTENAIRE
RÔLE DE SURVEILLANCE
HONEST BROKER

39. Se fixer des objectifs
Que ce soit pour des promotions ou
des recrutements dans les fonctions
seniors, nous visons une proportion
de 40 % de femmes minimum sur
une base annuelle
La diversité, un levier de performance pour l’entreprise de demain 6

40. S’inscrire dans la politique RH et les projets stratégiques
7

41. Se doter d’une structure de gouvernance
La diversité, un levier de performance pour l’entreprise de demain
D&I MANAGER
D&I
AMBASSADORS
D&I COUNCIL
observatoire de la politique D&I présidé par le
gouverneur et constitué de représentants de la
Communication, des RH et d’ambassadeurs et
ambassadrices de la diversité
développe, propose et s’assure de la mise en
oeuvre du plan d’action D&I
Membres du personnel qui se sont portés volontaires
pour promouvoir la diversité et la culture d'inclusion
8

42. S’engager
La diversité, un levier de performance pour l’entreprise de demain 9

44. Diversity & Inclusion, a strategic investment for
the financial sector.
Claire Godding, 02/2022

45. Why does investing in
diversity & inclusion make so
much sense for Finance?

46. ̶ Some strategic priorities of the financial sector in
2022
Financing the economy
Sustainability - ESG
Digital & Financial Inclusion
Risks & (Cyber) security
War for (digital) talent : attract and retain
Improve sector image

47. ̶ Diversity & Inclusion is helping the sector’s
strategy
Connecting to Clients diversity
Maximising Collective intelligence
Boosting Innovation capacity
Improving Risk management & ethics
Attraction & retention of best talents
Contributing to a better sector image

48. Sustainable finance is not only about green bonds - also
about gender equality and diversity
6
|

49. Survey : more women in the C-Suite impact how companies think
American Study on how gender mix at the top impacts ethics in finance

50. &
8 |
Erik Larson,
Forbes, 2017

51. Why a sector approach for
Diversity & Inclusion ?

52. Why does
a Sector
approach
work ?
Similar mix of genders, ages, origins
Sharing practices helps
Peer pressure pushes progress
Specific solutions accelerate progress

53. What does a
sector
approach
bring to its
members ?
Bringing Insights on the sector reality
Building a common vision
Helping smaller members to evolve on essential
themes
Building & sharing a sector toolbox
Building sector-wide networks
Self regulation → reduces risk of external regulation

54. What did we achieve so far ?

55. 3 years – 5 domains – 90% of our sector

56. Gender in finance : 46 companies –
and 90% of a sector - acting on their
glass ceilings

57. A very long journey towards equality

58. 46 institutions have signed the charter

59. Making glass ceilings visible – in order to break them

60. The gender action plans of our members - 2021

61. ➢ Member companies – “not yet member” companies
➢ Top management of financial institutions
➢ Male allies
➢ Female students
➢ All women working in the financial sector
➢ HR departments of our members
➢ Professional recruiters / headhunters
➢ Regulators / political & European institutions
➢ Society at large
➢ Clients / female entrepreneurs
Our main stakeholders

62. Proposing
different
role models
with portraits
& interviews
on instagram

64. Multicultural in finance : a
sector survey, a network

65. BoD - September 18, 2020
̶ Are you hearing racist micro-aggressions (sometimes, often, very often)?
67% 67%
21%
43%
41%
22%
34%
36%
34% 33% 34%
22%
0%
10%
20%
30%
40%
50%
60%
70%
80%
Black North Africa Asia Turkish Mixed European
micro-aggressions impact on self confidence & career
The Multicultural Inclusion survey by Febelfin shows micro-
aggressions are a reality in our sector

66. LGBT* in finance : a sector
survey & a sector workshop
* Lesbian – Gay – Bisexual - Transgender

67. How inclusive is your employer ? The LGBTQI inclusion
survey by Febelfin shows we can do better
76
14
60
How do you rate your employer ?
INCLUSIVE STILL WORK TO DO TOLERANT
16 3
130
Do you see an evolution ?
NOT AT ALL RATHER NEGATIVE RATHER POSITIVE

68. A campaign to promote
inclusion in our sector and
give tools

70. Les micro-agressions au travail
▪ Les micro-agressions au travail se définissent comme
l’ensemble des attitudes, propos et comportements fondés
sur des stéréotypes de race, de religion, de sexe,d’âge…qui,
bien qu’en apparence anodins ou de faible intensité, ont
pour objet ou pour effet, de façon consciente ou
inconsciente, de délégitimer les personnes, de les
inférioriser, de les déstabiliser de façon insidieuse, voire
bienveillante, au travail et d’entraîner une altération de leur
santé physique ou mentale. »

72. 30 |
The Febelfin Inclusion toolbox : 25 tools for
companies, CEOs, HR, team leaders and employees.
Inter-company training sessions (with support of Brussels Region)
Survey questions to measure inclusion in your company
Games to play with your team
Exercises for teams
Checklists for CEO’s , Communication team, HR
The Inclusive Panels website & Charter

73. The Inclusive Panels charter

74. 32

75. A best practice to copy :
33

76. What can YOU do ?

77. How should an action plan look ?
▪ Reduce discrimination risks & bias impact in HR Processes
▪ Train – Measure – Adapt - Control
▪ Make sure to attract and retain a diverse pool of talents
▪ Work on an inclusive culture
▪ Encourage inclusive leadership, mentoring, networks
▪ Make women, colleagues with different origins, more visible in
your company. Also in Panels
But before starting a plan you should :
▪ Embed this in your company’s strategy
▪ Measure diversity (gender data…) and inclusion (surveys – focus
groups)

78. What can I do as an employee ?
▪ Enlarge your peer group, make your environment more
diverse → expand your comfort zone
▪ Identify your biases
▪ Be attentive to colleagues in minority situation
▪ See something ? Say something !
▪ Find resources

79. Some inspiration :
#InclusioninFinance toolbox
www.inclusioninfinance.be
www.womeninfinancebelgium.be
www.inclusivepanels.be