Thank you so much for joining us in this interview series. Before we dive into our discussion about balancing the board, our readers would love to “get to know you” a bit better. Can you share with us the backstory about what brought you to your specific career path?
I wanted to be a journalist and writer when I was younger but changed my mind to sociology for a broader viewpoint. My first degree was in PR, and my career began in the PR department of a big corporation. There, I noticed that internal communications is what makes me happy and brings out my best qualities. With time, I came to understand that employer branding communications are connected to internal communications, which in turn are connected to leadership, development, and recruitment. It became evident that these areas are part of a larger system. In order to genuinely comprehend this system and facilitate employees’ happiness at work, I had to finally accept my position as HR and so, here I am!
Can you share the most interesting story that happened to you since you started your career?
Every day in HR is a whirlwind of events — sometimes comedic, sometimes intense. Allow me to share a recent anecdote.
At Finom, we value transparency and open communication; our culture encourages feedback. Every employee who has been with the organization for more than six months receives an annual 360-degree evaluation form. During a recent round of 360 feedback, a colleague in a high-level position expressed their frustration over a comment they received. They were informed that they were perceived as being rude during negotiations. It was at that very moment that I bravely admitted to being the one who made that comment. This resulted in a heartfelt discussion from both sides. I provided the person with specific examples they requested, expressing my deep respect and appreciation for them. My intention was to raise awareness of their demeanor. The individual was able to acknowledge and reflect upon the feedback, recognising with remorse the unintended impact their actions had on their colleague’s emotions.
After this exchange, we both felt a strong sense of empowerment and confidence. Being aware of the influence our words and actions can have on others is crucial. This demonstrates that when trust is established, and communication is open, progress can be achieved, and bridges will be constructed instead of barriers.
What do you think makes your company stand out? Can you share a story?
FINOM has many strengths. The startup aims to improve the lives of European entrepreneurs and SMB owners with a full banking solution. Our service improves financial processes, minimizes paperwork, and lets customers focus on business growth. FINOM covers numerous European markets and wants to cover the entire Eurozone by 2025. We reached 100,000 customers in just over three years from our inception in late 2020, demonstrating our quick growth!
FINOM serves medium-sized firms, solopreneurs, and small family-owned businesses in many industries. It’s inspiring to lead a team of excellent experts who empower people to thrive.
How we commit to workplace gender equality sticks out to me as CHRO. I am proud to say that 37% of our leadership positions are held by women. We are committed to promoting women in leadership. In the latest development, FINOM Payments named Kseniia Kutyreva Managing Director — Financial Crime. The Dutch Central Bank approved her, as they do for senior financial executives. However, the Board members selected her from a pool of very qualified candidates regardless of gender. I think company leadership, not just HR leadership, must acknowledge the need for gender diversity on boards and in senior positions.
You are a successful business leader. Which three character traits do you think were most instrumental to your success? Can you please share a story or example for each?
1. Ability to create
One example is the recruitment function at the company. When I started at FINOM, I found it in a dismal state; I built it up, and now it is thriving. FINOM has ambitious goals, and keeps opening offices in various European countries, the latest one in Barcelona, Spain. The HR team is delivering top-notch performance filling new roles.
2. Ability to listen
In the beginning, I focused on solving employees’ problems and providing assistance, which built trust. I know that people feel confident that if they bring an issue to HR, they will be heard, and the colleagues at HR will genuinely try to find an answer.
However, it’s not enough to let your team know you’re there for them if they need to express grievances. What brings listening to your team to the next level is proactive inquiry. I am very keen on having a data-driven approach and doing surveys such as eNPS with their impressive analytics. This way, I can listen to all the voices in the company and create systems of feedback and support.
3. Ability to be a business partner
Everyone at the company is working towards a common objective, and setbacks or discouragement are inevitable. I maintain an attitude to keep going; sometimes this trait is referred to as “grit” or “stamina”. I try to remain resolute and unwavering. The HR department’s main job has always been to balance the pressure that management puts on workers in many directions with the various demands and concerns of the workforce, while ensuring that organizational objectives and worker happiness are in alignment.
Leadership often entails making difficult decisions or hard choices between two apparently good paths. Can you share a story with us about a hard decision or choice you had to make as a leader? I’m curious to understand how these challenges have shaped your leadership.
FINOM’s diversified, multinational team creates a lively work environment. It is common for startups to have an enthusiastic and competitive atmosphere, but we are committed to ensuring this excitement does not eclipse respect and inclusivity.
An example of a hard choice was a case in one of our offices. About 85% of employees were men, and most had moved from other countries and struggled with linguistic and social isolation. This environment fostered improper jokes and comments, which led to serious harassment. I initiated an investigation, gathering evidence, watching behavior, and involving superiors. The harassment occurred outside of work hours, and the employee was clearly suffering from psycho-emotional distress from losing contact with family and friends, making the case less clear-cut than one might think. This was difficult: mental health care would end his actions, but GDPR prevented me from providing it.
I put the victims’ safety and well-being before this person’s mental health, and he was dismissed. The victims and manager appreciated the company’s support and protection. My team and I revised our harassment policy and continue to use communication tools and training to address the D&I agenda and create a safe environment for all.
Ok, thank you for that. Let’s now jump to the primary focus of our interview. How do you view the importance of having more women on your board and executive leadership team? Can you describe the value they bring from your own experience?
For me personally, as well as for the company, this is a principle we uphold with conviction. I see a number of strong arguments for why it is both beneficial and essential to have women in C-level positions:
1. Improved communication.
It’s possible to make a workplace toxic by promoting traits that are considered “traditionally masculine”, like aggression, competitiveness, and keeping feelings in check. People are becoming more and more aware that this type of communication is unhealthy because it makes stress, high turnover, and reputational risks more likely. Gender equality in leadership roles makes this less of a problem.
2. Understanding female employees’ needs.
Women in leadership roles bring a unique viewpoint to the table because they understand the situations, ways of communicating, and moral problems that only women at the company face.
Furthermore, having a lot of women in C-level roles makes it easier to look into employee conflict. For example, when putting together an anti-harassment board, it should be remembered that victims need to be able to talk about their problems without fear of being judged, and the board should ideally have an equal number of women and men. That means the company must have women in charge so that they can be called to this board.
As I mentioned earlier, we at FNOM were privileged to have 37% of its leadership roles being filled by women, and that’s just the beginning. We aim to reach parity at the minimum, and even go beyond. We are striving to create a psychologically safe workplace for women that promotes motivation, engagement, and growth where women will lead and exceed in top management roles.
For me, these are the primary reasons. While some advocate for the notion that women bring a distinct “feminine energy,” I disagree. I believe that every individual embodies both feminine and masculine energies inherently, and any perceived imbalance exists primarily at a practical level, potentially leading to operational challenges.
Reflecting on the last few years, what positive changes have you noticed regarding women in board and executive roles? Conversely, are there areas where progress has been slower or more challenging?
I have to admit that I have been fortunate enough to experience this progress in my family upbringing and my early career working in a women-owned apparel brand. My perspective changed greatly when I arrived in the Fintech industry. Here, my focus was constantly drawn to this issue. Candidates, investors, and government agencies routinely and actively ask about gender diversity in leadership, pay fairness, and the company’s commitment to these issues and future goals. Although less so, employees also bring this up during training and internal communications, indicating a growing demand for acknowledgement. I’m heartened by how cultural shifts force organizations to prioritize gender equality and promote harmony in these key areas.
Despite our best efforts, challenges remain. Fintech inherits its attributes from the Finance industry, and shares its regulators and norms. And we know that Finance work culture is quite brutal — not just to women, but to humans in general. Media reports describe 30-year-old males dying of heart attacks from work stress. If we can change this negative habit and make Fintech a more friendly workplace with better work-life balance, women’s representation will improve. I’m proud to work for a European company that’s making excellent achievements in this direction.
What, in your view, might prevent women from seeking board positions?
I think what makes women second-guess a C-level role is realizing that, unlike men in the same position, they will have to find ways to supplement their home obligations and possibly fall short of satisfying their family’s needs. Culturally, women are expected to provide support at home, not receive it. I hope that we can shift this narrative and normalize businesses with many women on their management boards soon.
I have a story. As you may not know, I am a single mother. I went through a time when I was working so hard that I neglected my personal life, so much so that I had no time to apply for a visa to the UK to meet with investors — eight months of struggling to balance my commitments led me to seek help. I requested the CEO for short-term assistance. Recognising the value of a work-life balance, the company provided me with a two-month assistant. This support reduced the burden and helped me regain personal order.
This illustrates how far our company and society have come. My circumstances made C-level or board roles unthinkable until recently. Of course, I worked hard to improve my mental resilience, composure, and professionalism, but our corporate culture of respect for one’s circumstances played a principal role.
While focusing on gender diversity, how do you also ensure a broader diversity of thought, background, and experience within leadership? How do these elements intertwine?
This is a very crucial question. Gender balance is important, but the real issue is the ability to listen, comprehend, and accept others. Here, “other” encompasses far more than just distinctions from oneself. It requires understanding and empathizing with strangers. I recommend Arrival and District 9 to anybody interested in diversity, equity, and inclusion (DE&I) because they demonstrate this ability to comprehend and accept the “other”.
I spent 2023 exploring cultural diversity. My work priorities were promoting Eastern-Western European cultural exchange. Despite their proximity, psychological differences sometimes led to miscommunication, which reinforced prejudice on both sides. It took multiple approaches to fix this issue. First, the issue had to be identified. Strategic minority recruiting was done to balance the organization’s composition. We translated all communication into English, a neutral language for most, which enhanced understanding and unity. Dialogue, knowledge, and encouragement bridged barriers and fostered curiosity about others’ histories. Establishing psychological safety was crucial to building trust. This shift was gradual, favoring little gains over severe controls. Starting with individual teams, the method spread to encourage cross-functional collaboration, showing the power and beauty of these transformations.
This is just one part of the adventure, and the culture of mutual respect is still a work in progress. Individuals, businesses, and society must work together to make it happen. Mutual respect is the foundation of true inclusivity, and we must pursue it personally and professionally. When we respect ourselves and others, we become inclusive.
Ok super. Here is the main question of our interview. What are your “Five Things That Should Be Done To Get More Women On Your Board and Executive Leadership Team”? If you can, please share a story or an example for each.
1. Recruit women for the Board.
Just do it! Actively seek out qualified women candidates and make a conscious effort to add them to the board. In my opinion, the simplest and most effective strategy is to just decide to hire more women.
2. Consider your coworker’s personal circumstances outside of the workplace.
What roles does she fulfill in her personal life? Are there any commitments that might affect her availability or ability to travel for work? It’s crucial to comprehend and create space for these responsibilities.
Once more, it’s important to highlight the need for a workplace that accommodates both personal and familial responsibilities rather than demanding employees give up their entire lives for the company. Ideally, everyone will benefit from fair and equitable treatment by their employer. Creating a truly inclusive work environment is essential for attracting exceptionally talented women to your leadership team. A truly inclusive work environment is simply a supportive and welcoming one; it is important to foster such an atmosphere at your company.
3. Engage in respectful dialogue.
Many agree that men have controlled finance and, by proxy, Fintech. A certain communication style comes with that, with fierce disputes and forceful body language that occasionally make female colleagues uncomfortable and overwhelmed. It may be harmful, but the truth is more complex. Conversations differ not only by gender but also by culture. To communicate well and develop good connections, team members must recognize these variances and strive to act in a way that includes others.
4. Distinguish between the professional and personal roles of women in the workplace.
With our progress, I occasionally observe male colleagues crossing boundaries by mixing professional interactions with personal relationships, treating their female counterparts as if they were partners, mothers, or daughters. If you struggle to view a female leader as an equal professional, then at the very least, consider approaching them with the same mindset you would have with siblings — an imperfect but more appropriate model. Any behavior beyond this, particularly the typical tendencies of using patronizing nicknames, condescending remarks, or assigning menial tasks, is completely unacceptable. Such actions degrade both women and men alike.
5. Focus breeds attention.
It is crucial to prioritize gender balance and adhere to legal requirements. Here are some straightforward steps you can take: Efficiently monitor, assess, and establish precise, quantifiable objectives for every department. Aligning the team’s goals and perspectives on gender balance with a comprehensive understanding of the current situation is crucial for successful business management.
In your opinion, what role does corporate culture play in promoting gender equality? Can you explain?
As previously mentioned, the corporate culture in Fintech companies, much like Finance companies, can often be excessively intense, reaching a level that is detrimental to all individuals, regardless of gender. It seems that women tend to experience challenges earlier or in a more noticeable way. This has led to a situation where the Fintech industry is heavily skewed towards men. Corporate culture undoubtedly has a major impact on the appeal of a company as a workplace for women.
Corporate culture is a reflection of our collective perspectives, revealing our core values and judgments. Understanding how a company will address workforce issues is crucial. If a company truly values equality, fairness, and respect for all employees, it will be reflected in the diversity of its workforce and the composition of its leadership.
With your commitment to achieving gender balance and fostering diversity, what are the thoughts or concerns that keep you awake at night? How do these reflections shape your approach as a leader?
These questions keep me up at night: Do all those concerned with this problem care about gender equality, or am I battling alone? Have I tried everything and tried my hardest?
I sometimes question my own capacity for acceptance. My professional career has included conflicts between what is morally correct and what is necessary. These recollections remind me that I occasionally break my promises and judge others based on trivial biases.
A significant factor contributing to these discomforts is my constant self-reflection and commitment to upholding the highest standards of integrity in my actions. I analyze, examine, and delve into things by leveraging my understanding of organizations and insights from others. Embracing personal growth and maintaining a humble, open-minded approach helps me avoid stagnation.
You are a person of great influence. If you could start a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. 🙂
I’m involved in Balagan, a creative youth camp. We give children space for self-directed learning guided by mentors in all sorts of creative fields, like directing, poetry, music, painting, writing, and art. In a loving, supportive environment, we encourage self-expression via creative projects.
If I could contribute to another movement to make the world better, it would be the Namaste movement. I want to rekindle the significance of the gesture “I salute the god in you.” Recognizing each other’s and our own divinity can transform life and relationships. If I could help any cause that would benefit all life on Earth, this is the one.
How can our readers further follow your work online?
https://www.linkedin.com/in/nastyacareer/
Thank you for the time you spent sharing these fantastic insights. We wish you only continued success in your great work!