“Through the financial crash, we realised it’s better actually to have more depth than breadth,” says Ndawula. “So we very much specialised in a number of more narrow areas such as estate agency, Skipton International, the mortgage and savings business. That’s helpful in terms of management stretch and ensuring that you can add more value and create more impact for those markets you’re operating in.”
While Skipton has prioritised depth over breadth in this regard, its efforts on diversity and inclusion have seen the society collect data on the diversity of its workforce.
“I think to diagnose whether a company or a business has got an issue around diversity and inclusion, the starting point should be to analyse the associated data. So the key is providing the environment where colleagues feel comfortable sharing that sort of D&I data with the business to help them drive change. Making sure they feel that it’s going to be used for positive purposes, rather than any negative purposes.
“And if one can get and analyse that data, you can identify where there’s some areas to work on. It should be data-led and if you can do that, then you can start using it to inform things like new policies, such as blind CVs, making sure that you really drive meritocracy.”
Ndawula mentions a report by BoardReady, a non-profit dedicated to increasing corporate diversity, which found a “compelling” correlation between diversity on boards of directors and the pandemic-era performance of the S&P 500 companies they lead.
“It’s been shown interestingly that very diverse boards and businesses tend to perform higher. So there’s a good commercial rationale, but I think before you can start on that journey it’s got to start with the data, so you can diagnose where the issues are and then really hone in on those areas.”
And when it comes to words of advice for those working in financial services who feel underrepresented, Ndawula says: “Try and take some risks in your career because many things aren’t irreversible.
“People think they are, but I think it’s about taking risk with your career and trying things and putting yourself forward, because if you don’t try, you’ll never know.
“And I think it’s all about trying to develop some momentum. So the more people who push the boundaries, they can actually create the opportunities not just for themselves, but for people who follow them as well.”
Chloe Cheung is a features writer at FTAdviser
