New Zealand is outperforming many other Asia-Pacific countries when it comes to female workplace representation, recent reports have shown. But there’s still much work to be done in the tax and accounting professions, where being a woman can feel very lonely.

To provide support and accelerate the transition to a level playing field, Tax Traders has just launched Women in Tax, an initiative which aims to elevate women and encourage working together for an inclusive future.

Tax Traders co-founder Nicola Taylor believes that female-focused networks play a critical role in helping women progress in their careers, and ultimately create more gender balance in the industry.

“For many women in tax and accounting, the term ‘networking’ recalls an artificial exchange of old-fashioned business cards, endless handshakes and the need to project a version of themself as a superwoman,” she says.

“We’ve been drawing together an informal community of women, which has enabled us to discuss common experiences, share professional knowledge and make meaningful career development plans.”

A new community

The meetings resulted in many attendees making meaningful connections, proving how powerful such group events could be.

Their popularity prompted Taylor and other key supporters to formalise the gatherings and create Women in Tax. The initiative aims to provide role models to a professional community of women, particularly those working in smaller organisations or firms without many female leaders.

“The hope is that people will leave the events feeling energised and more confident,” she says. “The reality is that when there are more women in the room, it’s easier to show authenticity, which can boost confidence and engender a level of acceptance not often found in male-dominated networks. We can have honest conversations and seek input from women who’ve been in similar positions.”

Finding role models

One early supporter is Emma Baines CA, a partner at KPMG in Wellington, who sees the initiative as an important step in harnessing role models, increasing diversity and supporting more women into leadership positions.

“I personally wouldn’t be where I am today without the women leaders at KPMG who’ve supported and guided me in my career,” she says.

For her, gender inequality has long had a trickle-down effect on young women starting their corporate careers. “I’m a firm believer in the saying ‘You can’t be what you can’t see’, so it’s important to the future of the profession to have more women leaders coming through,” she says.

It’s also a way to ensure career advancement opportunities aren’t missed.

“During our careers, situations outside of work change. It’s particularly true for women who have significant care roles in their personal lives, be it children or elderly parents,” she says. “I still see assumptions being made that this means women are happy to let their careers take a back seat. That attitude can lead to missed opportunities.”

One of the network’s roles is to ensure that more conversations about these critical moments can be held openly between women with a full range of life experiences.

“I’m a firm believer in the saying ‘You can’t be what you can’t see’, so it’s important to the future of the profession to have more women leaders coming through.”

Meaningful change

Kiwibank’s Meghna Garg CA, vice chair of CA ANZ’s Emerging Leaders Committee and a Women in Tax member, believes the new organisation will drive meaningful change.

“Leadership is about providing direction, connecting to others and having the courage to make difficult decisions,” she says.

All of which, she argues, are more achievable as part of a group of supportive, intelligent peers, some of whom have already had to make similar hard decisions in their own leadership journeys.

“The more women we have in leadership, the more we can demonstrate that it’s achievable for other women to do the same,” Garg declares. “We need to embrace diversity in leadership if we’re to connect with our modern workforce. Organisations can also benefit by gaining a different perspective through the diversity of experiences, backgrounds and skills among their leaders.”

In her experience, adapting and changing values has been the greatest barrier to achieving gender equality in the workplace - and it doesn’t come naturally to everyone in the corporate sphere.

“We often compare current circumstances to the past, which were never ideal in the first place,” she says. “We’ve improved, but to continually progress, we should benchmark our current position to where we want to be.”

“We need to embrace diversity in leadership if we are to connect with our modern workforce.”

A winning solution

Taylor’s long-term goal is to have more women in the tax profession appointed to leadership positions.

“When that happens, everyone wins!” she says. “It’s well known that firms with greater gender diversity in senior management perform better. They’re more socially responsible, more profitable and provide higher-quality customer experiences.

“Employees are also more engaged, inspired and satisfied. Much more action is needed across the board to get us there, but the Women in Tax initiative will be proud to play its part.”

Find out more

The new Women in Tax network, steered by Tax Traders, welcomes women of all levels of seniority in the accounting and tax professions to help foster a sense of belonging and visibility. To be among the first to know about upcoming events, visit the website https://home.taxtraders.co.nz/women-in-tax and register your interest.