Small but mighty. Why it’s time for SMEs to lead the gender equity conversation

When we think about driving real change in diversity, equity, and inclusion (DEI), it’s easy to assume that the biggest organisations have the greatest sway over industry norms. But often, it’s the small and mid-sized companies (SMEs) who are the pioneers, driving the most creative, bold and meaningful innovations despite their more limited resources and leaner teams.

That’s exactly why WIBF introduced the SME DEI Innovation (Gender Equity) Award – a category that recognises the powerful role that smaller organisations are playing in tackling gender equity in UK financial services.

If your organisation has an annual turnover of less than £250 million and is delivering innovative DEI work, particularly for the advancement of women, this is your chance to be recognised at a national level.

Good ideas can change the world

The financial services industry is still marked by significant gender gaps, especially in leadership, technical and revenue-generating roles, which is why our industry still has the largest gender pay gap. Bridging any of these gaps requires more than just good intentions – it requires new ways of thinking, new processes and new approaches that challenge the status quo.

This award celebrates exactly that: an innovation, project, or team that has fundamentally progressed gender equity, through intention and through measurable change.

And innovation can come in many forms:

• A new return-to-work pathway for women after a multiple-year career break
• A gender-balanced early careers programme
• A leadership initiative developed with intersectionality in mind
• A new approach to inclusive recruitment or retention
• A reverse mentoring scheme aligned with a more traditional mentoring programme
• A time-limited pilot project that’s now being scaled.

You don’t need a global footprint to make a big difference. You just need an idea and the determination to see it through.

Why SMEs? Why now?

Changes can often happen more quickly in smaller firms. Known to be able to be nimble, cultures can transition more easily because hierarchies are flatter and communication chains are shorter and quicker, allowing good ideas to be implemented effectively.

Many SMEs also often sit closer to their communities and customers, giving them unique insights into what real inclusion should look like – not just inside their business, but beyond it too.

And WIBF’s Awards for Achievement aim to recognise DEI innovation wherever it has happened, irrespective of whether it’s within a business division, specialist function like HR or operations, a community network, or the result of a one-off project that’s had a lasting impact.

What we’re looking for

Successful submissions will highlight not only the innovation itself, but also the why, how and what’s next:

• What problem were you trying to solve?
• What was the state of play before the project began?
• What changes did you make and how did you adapt your strategy along the way?
• What hurdles did you face and how did you overcome them?
• How did you measure success? What outcomes can you share?
• What data can you share to reinforce your story?
• How is this now embedded in your company’s strategy or culture?
• What potential does your model have to influence others in the sector?

In other words, we want to hear about what worked, but also what you’ve learned.

And our SME award celebrates projects that are not completely finished and polished. We also want to see brave ideas that are delivering something new. We’re looking for progression.

Making your case

If you’re thinking of nominating your organisation, here are some practical tips:

1. Be clear and concise – Begin with a compelling 200-word overview of the project, and state clearly why you believe it’s award-worthy
2. Tell the story – Describe how the idea came about, what was implemented, and how the initiative evolved. Share honest insights, not just successes, detailing what had to change along the way
3. Show evidence – Use numbers, quotes, engagement data, or internal KPIs to demonstrate the before and the after
4. Connect to strategy – Explain how the initiative ties into your wider business goals and company culture. Is this now ‘business as usual’?
5. Think beyond your ‘walls’ – If there’s potential for other organisations to learn from your work, say so. We’re looking for scalable, shareable ideas that could benefit the broader financial services industry
6. Celebrate the people involved – Was this a grassroots initiative? A cross-functional team effort? An empowered HR team or inclusive leadership from the top? Shine the spotlight on the people that worked the hardest to make it happen.

If you’re working in an SME that’s taking bold steps to close gender gaps, despite the limited resources, this award is for you. It will allow you to:

• Gain the well-deserved external recognition for your hard work
• Celebrate the people behind the change
• Inspire other organisations to act
• Build momentum for your DEI strategy
• Share your model with the wider industry

And most importantly, it’s a chance to show that you don’t need to be big to lead.

Ready to nominate?

Visit the WIBF awards page to download the full criteria and access the nomination form. Each question is designed to help you tell your SME story clearly and demonstrate the real value of your work.

Don’t miss the opportunity to put your most progressive SME innovation in the spotlight.

Let’s celebrate the changemakers – the ones turning ideas into action, and action into impact.