City Hive's Cross-Company Mentoring Scheme
Join City Hive's Cross-Company Mentoring Scheme, to cultivate the future female talent pipeline in the asset and investment management industry
City Hive presents our cross-company mentoring scheme, in conjunction with the Women in Investment Awards.
Women continue to be underrepresented in the Financial Services workforce at all career levels, with female representation declining as career levels rise. This shows that organisations are not making progress in building future female talent pipelines.
Do you want to help cultivate your future star performers? Upskill and maximise the potential of women in your business? It's time for the industry to come together to help develop a stellar talent pool for asset management of the future.
City Hive, a network for change in the asset and investment management industry, partners with a global expert in coaching and mentoring, Lis Merrick, to deliver this programme.
Tell me about the City Hive Cross-Company Mentoring Scheme
We are offering the investment industry the opportunity to participate in and support the first cohort of City Hive's mentoring scheme, focused on women in the industry and leveraging its talent.
- The scheme matches mentors with female mentees from within the investment industry, allowing younger women to build up a network and explore their potential within the framework of their industry.
- Any woman from the industry can apply to be mentored, from any job function. Mentors are both women and men with expertise to offer.
- Our sponsors fund the scheme places, and are allocated one guaranteed match for a mentor and a mentee. The remainder of the levy funds pairs matched from the open candidate pool.
- Mentor-mentee pairs are professional matched by our team of experts. Whilst there are many ways to match mentoring pairs, we prefer to use our own consultants rather than using matching software. We look for the best overall match based on skills and interest to ensure the mentoring relationship is effective and beneficial to both.
- Applications for the candidate pool will open on the day of the Women in Investment Awards, until end 2019, when the pairs will be matched.
- The scheme will run over most of 2020, with the recommendation to meet at least every six weeks. There will be events to support both mentors and mentees along the way.
How it works
- We will provide a launch event in early 2020, where the pairs are helped to develop their relationship and to understand how to develop a strong partnership.
- Matched pairs are briefed so that they understand their roles and responsibilities, how the mentoring relationship works, and what skills are required.
- Emphasis is on ensuring the mentor can effectively support the mentee to work towards their goals.
- We keep in touch with mentors and mentees throughout the programme to check that everyone is comfortable in their mentoring relationship, and if any issues arise, we can rectify them helping to maintain momentum and focus.
- Mentoring cohorts are generally set up for 9-12 months, but mentoring relationships can continue after this point if they are still beneficial to both parties.
- We will offer a series of opportunities to build networks for the pool of candidates that are not matched into our first cohort, helping to foster relations across the industry.
Why a mentoring scheme?
This mentoring programme recognises the underrepresentation of women in our industry and the benefits that cross-company, industry specific insight can provide. It offers support and an opportunity for personal development (of both the mentee and mentor), whilst at the same time creating a bank of visible female role models and male role models who will champion the support of women.
The benefits of cross-company mentoring include:
- finding out more about careers and the content of different roles,
- developing strategies to progress,
- working on work-life balance and
- increasing personal networks.
- a greater choice of mentors, with different skills, perspectives and knowledge
- more networking opportunities
- mentees look beyond their familiar surroundings to other corporate cultures
- mentors gain fresh perspective that can be taken into their organisation at senior levels
- open conversations, with more neutral, unbiased conversations - leading to more robust and valuable mentoring relationships
By being hands-on in supporting the mentoring programme throughout, we can ensure that all participants remain engaged and have access to the resources they need to gain the most from their mentoring relationship.
Why you should support City Hive's scheme
- We know that the industry needs to do more to attract and retain female talent. Many companies have signalled their commitments through the Women in Finance Charter and sponsorship of the Women in Investment Awards. But we need more action. This is a practical way to publicly demonstrate your commitment to progressing women and addressing gender balance, by investing in talent.
- This scheme provides a practical and proven way of supporting individuals to grow in their roles.
- The time invested reaps rewards for you and your organisation. While the focus of the relationship is the mentee and her progress, being a mentor is a great opportunity to listen, understand and expand your own perspectives. The workplace is changing, and the day to day concerns of younger staff need to filter upwards all the way to the Boardroom.
How many staff can I have in the scheme?
Sponsor companies are guaranteed a match for one mentor and one mentee. There is no limit on applications, but not everyone will be matched in the first cohort. We will provide other types of support to the unmatched candidates, to reward their interest in professional and personal development.
Can men apply?
Men can apply to be mentors alongside women, as we want to ensure we make the most of the expertise available. All our cohorts in this particular scheme are women, but can come from any job function.
Can my marketing/ HR/ IT/investment analyst apply?
Any job function is welcome to participate in the scheme. We need role models at all levels and across all business functions.
Is this a good use of my executive's time?
Yes - the mentors also benefit when they share their expertise, particularly through listening and learning about the mentee's experience. This scheme is designed to improve skills and performance across the industry, which benefits everyone.
We already have a scheme, what's different about this?
Cross-company schemes offer different perspectives to mentees and the opportunity for cross-fertilisation of ideas. They also provide opportunities for smaller organisations to participate and develop their female talent.
Will my staff get poached?
It's unlikely to be the reason someone moves job roles - that has more to do with their existing stituation. Investing in people is a way to address career needs; denying an ambitious woman the opportunity to gain valuable career experience won't reduce the risk.
Will we be at risk of breaching rules around confidential information?
No more than any other meeting or conversation between two industry professionals. Everyone knows the rules, and all pairs will be reminded of their obligations at the outset.
To get involved please contact:
Natasha Buckle | +44 7557 283 087 | [email protected]
Questions? Please contact [email protected]