The number of men involved with gender diversity efforts is falling, according to a report Mercer plans to release Wednesday.
About 38% of organizations sampled by the consulting firm said their male employees are engaged in diversity efforts, a decrease of 11 percentage points since 2014.
The new report, titled "When Women Thrive," is part of a larger effort by Mercer to emphasize the important role men play in advancing gender diversity in the workplace and to highlight innovative diversity tactics.
In the financial services industry specifically, women comprise 20% of board members, 13% of executive committee members and 4% of CEOs, according to previous research by Mercer.
The industry needs to do better, Jrg Zeltner, CEO of UBS Wealth Management, said in a press release.
"There is no room for excuses in this regard," Zeltner said, regarding the lack of women's representation at the top. "I don't think we should sit in boardrooms without women."
At companies where men are actively engaged in diversity and inclusion efforts, female representation is greater at every level, Mercer found.
Overall, women at the highest rank leave their companies at 1.3 times the rate of men; this mutes progress from an improvement in the hire rate for executive level women by 2 percentage points from 2014.