Anna Katharina Nolting is Head of Corporate Communications at Luxembourg-based asset and investment manager REInvest and a mother. We talk to her about how companies in the financial sector can make themselves attractive to female professionals. In another interview we talked to her about what a job in corporate communications can look like and how work and family can be reconciled here.
Anna Katharina, as a marketing specialist, you can probably tell us what the important criteria are for a real estate manager like REInvest that determine the brand. What are the most important ones?
Originally, I come from the fast moving consumer goods and premium lifestyle segment, so I am unfamiliar with the real estate and finance industry. But from my experience at REInvest, I have noticed that the industry does not play such a big role. On the contrary, an unbiased way of thinking is often good for an established industry and can lead to developing new ideas and acting innovatively again. The most important factors are brand personality, differentiation from the competition, a consistent appearance and clear, transparent and above all honest brand communication.
The most important thing is authenticity, because marketing-washing is and remains unsuccessful. Without a clearly defined value proposition that seriously reflects the entrepreneurial attitude, large sums of money are invested in marketing measures where the result in the end is not in proportion. This means: I cannot present something on the outside that is not yet lived on the inside. Companies must adopt the communicated attitude, stand by it and embody it in order to build up their own identity, which is ultimately perceived as a brand. Only then will the messages that the company wants to send also reach the recipient as authentic and consistent.
How important is brand perception in the search for customers and for competent employees?
Brand perception not only has an impact on cooperation with potential partners and customers, but also on the entire recruiting process. The candidate experience ultimately determines not only whether top talents choose our company, but also how they talk about us afterwards. The real estate industry is small, so a bad echo can have consequences. The same applies to customer acquisition. A positive brand image strengthens the perception in the market environment and also the bond with existing customers. Of course, marketing and business development have to work closely together to develop a successful sales strategy.
At Fondsfrauen, we have the feeling that there are more women in management positions among real estate asset managers than among securities asset managers. Is there something to that?
I'm talking more about the financial sector, the asset class doesn't really have much significance then. I think that the financial sector embodies an image that can possibly scare women off, or they are reluctant to move into this area. Nevertheless, I have the impression that a serious change is taking place and old structures and beliefs are being broken down. I can't speak for every company in the financial sector, but since I've been working for REInvest, I haven't had any bad experiences in terms of diversity or being a woman. On the contrary. It is the task of all companies, no matter what industry they are in, to develop authentically and at all levels in the spirit of this zeitgeist.
You deal with brand management. Can a company nowadays make its brand attractive by promoting women in the company?
Definitely! It may not be the promotion of women in the first place, but the attitude behind the individual promotion of each employee that makes the company interesting. Of course, as a woman, I am concerned with whether the company I am considering supports my path. Do I find my environment there? Are there opportunities there for me to develop and grow and are flexible or needs-based working hours offered? This concerns men as much as women. For both, it is ultimately a question of whether individuality can be lived out, whether equal conditions prevail and whether a trusting exchange can take place overall.
What can companies do to be attractive for skilled workers - female and male?
Employer branding is the keyword for attracting new talent. This means that the company's own employer brand must be built up and communicated to the outside world in order to increase its attractiveness as an employer. This means identifying the needs of potential employees, communicating the attitude of managers, presenting development opportunities and transparently conveying company characteristics. Only in this way can identification with the company take place and the motivation to apply be increased.
The insight behind the scenes of a company also plays an overriding role, especially for young talents. Getting to know the versatility of the areas of responsibility, the design of the working environment and the individual career opportunities increases competitiveness.
What else can companies do?
New-work offers have also become the focus of demand among applicants in recent years. Aspects such as flexible working time models, self-responsibility and the possibility to work remotely are of great importance to many employees. This change must be proactively shaped by companies. In addition, female role models in the finance and fund industry lack charisma. Women in the industry are very capable and assertive if they are allowed to follow their individual path. This also needs to be communicated to the labour market. While I am not a fan of treating women differently than men in recruiting, women need to have the same opportunities as men. It must become clear: If you are good, you also have the opportunity to go further and up. The financial sector is still strongly male-dominated. If a man is at the top, he tends to attract men. If a woman is at the top, women also get into positions more easily. Yet it is so important to promote diverse teams. They demonstrably produce better entrepreneurial performance. However, this should not be done on the basis of a quota. Promoting women through a quota is nothing more than admitting that women cannot make it on their own. And it is precisely this old-fashioned image of the female sex in need of protection that we want to get rid of.
And what can companies do to attract talent who still have family planning ahead of them?
For women who want to combine children and career, modern work structures and ways of thinking are particularly decisive in the choice of employer. It is important to send the signal that there is a good way to get back to work even after a more or less long break for children. The message must be: In our country, the appreciation of employees is not reduced to the working hours alone, but to the performance rendered therein. In addition, companies should also do something to support women with children in order to make it easier for them to return to work. Political tools and regulations are not sufficient here and must be flanked and supplemented by entrepreneurial measures. This proactive promotion of re-entry sends positive signals to new talents and thus counteracts the shortage of skilled labour in the long term! Human capital is the most valuable asset in the financial sector and attracting qualified employees is one of the biggest challenges. Companies must be prepared to ensure equal opportunities in order not to close themselves off to a large number of qualified newcomers and thus also jeopardise their own economic development in the long term.
Thank you very much for these valuable tips!
Anke Dembowski is a financial journalist and author of various investment fund-related and other financial books. She is also a co-founder of the "Fondsfrauen" network.