FeatureOne of the unintended, but positive, side-effects of the Fourth Industrial Revolution is the intensification of the conversation about gender equality. Research now clearly shows us that welcoming corporate cultures outperform their stagnant peers. It is time to stop talking just about diversity and inclusion; we must add the concept of belonging.
PwC estimated last year that legal and social barriers to female participation in MENA workforces represent an annual GDP loss of $575 billion.
Research clearly shows us that welcoming corporate cultures outperform their stagnant peers
A paltry 56% of women believe they have been assessed on a par with their male colleagues when up for a promotion, and two thirds are in favor of government intervention in the private sector on issues of gender diversity.
PwC estimated legal and social barriers to female participation in workforces represent an annual GDP loss of $575 billion
In a world that suffers from skills gaps and a shortage of entrepreneurship, why do women, who represent half the global population, have such small shares in corporate board membership? Change will not happen on its own.
Business leaders need to commit to a new era of diversity, inclusion, and belonging, to usher in the prosperity that can result from the welcoming workplace.
Why do women, who represent half global population, have such small shares in board membership?
Here are some pillars around which such efforts should be organised.
#1 Workforce training
We must start with our people. If employees are equipped with a shared set of welcoming values that reflect those of the company, the corporate atmosphere will evolve. Learning programs must seek to build inclusive mindsets that celebrate diversity and advocate for it. An open, listening culture that encourages two-way dialogue should be taught as a standard.
#2 Equity for all
All of us have a need to feel equal to our colleagues, and that should be reflected in an inclusive environment. Fairness and respect should emanate from programs and create an atmosphere of equity across the entire employment lifecycle, from interviews to onboarding and onward through career progression to offboarding.
Losses persist for those that have not started their diversity, inclusion and belonging journeys
#3 Giving employees a voice
Everyone needs to be heard. One of the challenges associated with building inclusive cultures is that it only takes one bad experience for an employee to feel that they do not belong, but it takes constant effort on the part of a diverse, focused team to make everyone feel like they do belong.
#4 Recruiting and career advancement
In the years to come, the region’s top talent will gravitate towards great workplaces. Considering the diverse nature of the region, those that prioritise recruitment, development and retention of talent will also have to prioritise inclusive practices. Inclusive teams will appeal more to the region’s varied demographic.
#5 Lobbying for good
Leaders must set examples, inside their organisations and outside. They should be advocates for diversity, inclusion and belonging, so they can explain to others what it means to blur the line between the personal and professional, and what the benefits of such approaches are.
Economic advantages are the result of inclusive policies
Diversity, inclusion, and belonging, is a long road, but a worthy and necessary challenge. Adopting these pillars is one way of keeping the ship on course as we build businesses that add value to communities.
Business leaders need to commit to a new era of diversity, inclusion, and belonging, to usher in prosperity that can result from a welcoming workplace.
