Power Profile > The terrible tyranny of the majority
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The terrible tyranny of the majority As we move through the 21st century, workforce diversity has become an essential business practice. In the so-called information age, the greatest asset of most companies remains its people – not only their skill sets and knowledge base, but an individual’s gut instinct increases a company’s ability to perform above the rest. Undeniably, there is a talent war raging and no company can afford to unnecessarily restrict its ability to attract and retain the very best employees available. Management should be aware that policies, practices and environment should appeal to a range of diverse individuals within its workforce. Mandy Simpson, Head of Operations at securities market operator NZX, relishes in the company culture she joined in November 2012, which was a refreshing change from the male dominated workforce of the London Stock Exchange that existed during her years with the organisation from 2000-2003. “One of the key reasons I think diversity is important is that every organisation is fishing from the same talent pool,” Mandy explains. “It seems crazy to cut that number down in any way whether that be due to age, ethnicity, gender or disability. Improving diversity allows us to access the broadest possible talent pool. We work hard at NZX to ensure everyone has an equal opportunity.” Gender is almost exactly a 50/50 split across NZX and at a senior level 36% of all senior executives are female. In Mandy’s own team of 25 (13 men and 12 women) the age group is at the younger end of the scale in relation to NZX’s overall workforce. Under her direction the team operates and monitors the NZX markets, including the clearing house settlement and risk teams and she is heading the setup of a new issuer services function. The NZX runs a graduate programme to add to the diversity the company already has – especially in age. Graduates spend a year in different areas of the business so they can see where they fit best, and benefit from mentoring and training. The programme comprises both external and internal training where individuals are taught technical elements and softer skills, for example there's also an expectation that the graduates will take part in NZX’s Toastmasters group. By the end of the three years, the graduate will have a broad view of the business and a good understanding of the market. "Being small and diverse, we are quite flexible and can offer something different from the large corporates. There is a broad range of opportunity." Previously Mandy was CFO for Fronde – a Wellington based IT company – where she was responsible for provision of financial and strategic advice to the Chief Executive, the leadership team, and the Board. During her two year stint with the company, Fronde doubled revenues, increased staff numbers by ~75% and went from being loss making to strongly profitable. She has also served as a board member of Sport Wellington and CFO for the State Services Commission. “I was attracted to the NZX position initially because of the role that the market plays in the overall wellbeing of New Zealand. As a country we’re starting to save more. I think if we can provide more ways for companies to access those investment funds and use them to grow, the country as a whole benefits. Individuals as well as companies have been quite wary of the market in the past. My personal goal is to help people overcome that through education. “My second goal is one that I take with me in every job I do and that is to build a great team that people are proud to be a part of, where they can feel they can achieve more as a team than by themselves. The nature of the real time markets is such that no two days are ever the same. We do expect a lot out of our people including flexibility. It’s possible to thrive in a fast paced environment while still supporting eachother.” Mandy has a law degree from Cambridge University and is a chartered accountant trained with Deloitte. She moved to New Zealand in 2006 from the UK when the lifestyle pull became too strong. “The commute in the UK is quite a time consuming activity and I thought there were many more important things I could be doing with that time. “We're based down on the waterfront in Wellington, which is the perfect place to indulge my running obsession, with lunchtime runs either around the bays, or up in Wellington's many many hills.” Mandy runs for Wellington Scottish and recently completed the Berlin Marathon. Mandy’s top tips for companies diversifying themselves
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