Power or peril? Making flexibility work for women in asset management

The pandemic forced a massive remote work experiment. But will changes be forever? The vast majority of professionals in the asset management industry hope so according to the 2021 KPMG Women in Asset Management Survey.

Eighty-nine percent of industry professionals express a desire for flexible work opportunities in the future with the largest percentage of respondents (57 percent) preferring a hybrid model—to split work equally between the office and remote, and another 30 percent preferring to work primarily remotely.

“The pandemic world is affecting women differently than men. We see this as an opportunity for asset management firms to transform their work environments to include and support women in the industry,” said Camille Asaro, Founder, KPMG Women in Asset Management Leader Council. “To do this, firm leaders need to understand the unique challenges women face in the new reality of work. Its clear firms are going to need to make changes to keep their top talent. It’s less clear what the industry work model should look like to not only drive productivity, performance, and growth, but to increase gender diversity in our industry”

Yet while the yearning to be remote is strong concerns persist.

Namely:

Sixty-two percent of respondents say women who utilize remote or hybrid schedules are potentially at risk of losing opportunities for advancement.
Seventy-three percent cited less connectivity with colleagues as the number one potential negative impact to women who utilize remote/flexible work opportunities
Thirty two percent believe remote/flexible work will negatively impact women’s advancement opportunities

“We’ve all been through a pandemic, which has impacted everything from how women work, to what they expect from their employers, to whether or not they stay in the industry long-term,” said Kelly Rau, Founder, KPMG Women in Asset Management Leader Council. “ We believe this new era could be a gamechanger for women if firm leaders listen to their people and adapt their cultures and workplaces to meet their changing needs.”

Drawing on key findings from the data and supplemented by interviews with industry and KPMG thought leaders, this report explores how ways of working are changing in alternative investments, the impact on women in the industry, and how firms can transform their work environment to better meet the unique goals and needs of female talent.

For media inquiries contact Matt Weiss @mweiss@kpmg.com.