Laura Lancaster: Pioneering Change in the Fintech Landscape
Laura Lancaster, the Vice President of EV Networks & Partnerships at Corpay, embodies the spirit of resilience and innovation in a traditionally male-dominated industry. Her career journey is a testament to the power of mentorship, diversity, and the relentless pursuit of equality in the workplace. With a focus on cultivating a career path devoid of glass ceilings, Lancaster emphasizes the importance of creating environments where everyone can thrive, regardless of gender.
The Influence of Respect and Culture
Lancaster’s career has been shaped by the influence of remarkable individuals who have earned the respect of their colleagues. She believes that a culture that encourages employees to go the extra mile is essential for success. “My career has been inspired by great people that earn their colleagues’ respect and cultivate a culture in which you are driven to go the extra mile,” she shares. This philosophy underscores her commitment to celebrating individual contributions, recognizing that each person brings a unique set of experiences and viewpoints to the table.
Navigating a Male-Dominated Industry
Despite her success, Lancaster acknowledges the challenges women face in industries where male representation is prevalent. “I’ve been very lucky in that I haven’t had any barriers that I’ve experienced because I am a woman,” she states. However, she also points out the lack of female mentors and leaders in her field, which can make it difficult for women to find role models. This gap highlights the necessity for organizations to actively promote diversity and inclusion, ensuring that women have access to mentorship and leadership opportunities.
The Importance of Diverse Perspectives
Lancaster is passionate about fostering a diverse workforce that reflects a variety of backgrounds, nationalities, and ages. “I’m delighted to be working alongside a team that is 50/50 gender split but is also made up of a range of nationalities and ages,” she explains. This diversity enriches the workplace, allowing for a broader range of perspectives and ideas. By consulting with a well-rounded team, Lancaster believes they can approach challenges more creatively and effectively.
Celebrating Quiet Leadership
In her reflections on leadership, Lancaster draws inspiration from figures like Michelle Obama, who exemplify strength and grace without seeking the spotlight. “I’ve always been inspired by powerful women that aren’t drawn to the limelight but lead with grace,” she notes. This perspective emphasizes the value of quiet leadership—those who work diligently behind the scenes to drive progress and change. Lancaster advocates for a work environment where individuals are recognized for their contributions, irrespective of gender, as a means to accelerate meaningful change.
Breaking Down Barriers for Women
Lancaster highlights the systemic barriers that often hinder women’s career advancement, particularly in the fintech sector. “In many cases, men naturally benefit from informal networks, mentorship, and sponsorship that accelerate their careers, while women are often left to navigate these challenges alone,” she observes. To combat this disparity, initiatives like Corpay’s LIFT: Elevating Women in Fintech micro-mentorship program are crucial. This program has successfully guided numerous women across North America, Europe, and APAC, providing them with the support and connections necessary to elevate their careers.
The Role of Businesses in Creating Equal Opportunities
While mentorship is vital, Lancaster emphasizes that businesses must also create environments conducive to women’s success. “Businesses must actively create environments where women are given ample opportunity to lead, innovate, and succeed,” she asserts. This includes implementing transparent promotion policies, ensuring equal pay for equal work, and recognizing talent based on merit rather than gender. In an industry that thrives on innovation, it is imperative to harness the full potential of the workforce by including diverse voices.
The Business Case for Gender Diversity
Lancaster firmly believes that when women succeed, businesses thrive. Research supports this assertion, showing a positive correlation between gender diversity in executive roles and improved profitability and decision-making. “When women win, businesses win,” she states, reinforcing the idea that fostering an inclusive workplace is not just a moral imperative but a strategic advantage.
Empowering Women at Cashflows
Hannah Fitzsimons, CEO of Cashflows, echoes Lancaster’s sentiments about empowering women in the workplace. “Empowering women isn’t just about opening doors—it’s about giving them the confidence to walk through them,” she explains. Fitzsimons emphasizes the importance of encouraging women to embrace discomfort and seize opportunities, as self-doubt can often be the most significant barrier to success.
Creating a Culture of Support
At Cashflows, initiatives like International Women’s Day panels provide a platform for women to share their experiences and challenges. These discussions foster a culture of mentorship and support, encouraging women to step into new challenges with confidence. Fitzsimons highlights the importance of taking actionable steps, such as mentorship programs and leadership development opportunities, to help women advance in their careers.
Commitment to Diversity and Accountability
Cashflows is committed to driving real change in representation, as evidenced by their hiring practices—55% of new hires last year were women. Fitzsimons emphasizes the importance of accountability, setting company-wide diversity KPIs to ensure that progress is measurable and not merely aspirational. This commitment to fostering an inclusive environment is crucial for empowering women to thrive in their careers.
The Power of Women Supporting Women
Fitzsimons concludes with a powerful message about the impact of women supporting one another. “When women support each other, challenge self-imposed limits, and push forward despite fear, incredible things happen,” she states. This sentiment encapsulates the essence of creating a workplace where women are not only included but empowered to excel, ultimately benefiting the entire organization.
Through the insights of leaders like Laura Lancaster and Hannah Fitzsimons, it becomes clear that the path to gender equality in the workplace is not just about breaking barriers but also about fostering a culture of support, mentorship, and empowerment.