CHIEF OF STAFF FIVE: Diversity and inclusion have become a clear business case for modern organisations. They are no longer seen as advocacies, but as imperative strands that every company must have or strive for, especially as formal regulations to promote the rights of disadvantaged groups become more widely used.
In line with International Women’s Month this March, this Chief of Staff Five focuses on ways to empower female employees; to advance their careers while also prioritising their overall well-being.
1. Diversify leadership
We have seen significant progress for women in work and leadership over recent years. In January, Fortune Magazine revealed that 53 Fortune 500 companies had female CEOs. It was the first time in its 68-year history that the figure reached over 10%. In Southeast Asia, there is also progress being made — with 17% of board seats held by women. Still, much work has yet to be done.
Several studies show that having women in C-suite positions creates a positive impact on a company’s overall performance, which includes increased productivity and efficiency, higher profits, and better relationships with clients and partners. Diversifying from the top down helps transform companies to become more inclusive, progressive, and dynamic.
2. Implement inclusive policies
As employee well-being continues to take centre stage, organisations are expected to become more aware of minority perspectives and implement policies that will support their professional and personal growth.
The dual roles of women in managing both careers and families is a common challenge. This problem was further amplified during the height of the Covid-19 pandemic, when most people were forced to work remotely from their homes, creating conflict between work and household responsibilities.
Whether on-site or remote, companies have to make sure that female and maternal health are recognised and accounted for; that men and women are paid equally; that the rewards system is applied fairly; and that all staff opinions and feedback are treated with the same regard.
3. Create a safe space for women
Nobody wants to work in an environment where they are uncomfortable and unsafe. But, some employees will keep quiet about such fears to placate a bigger worry of the potential lack of job security.
It is up to business and HR leaders to make sure there are policies to protect women and other disadvantaged groups against threats, harassment, and discrimination. But policies mean nothing if they are not executed properly, so — by extension — there must also be a working system for reporting untoward behaviours and circumstances.
4. Foster a mentorship culture
Research published in Harvard Business Review has found that women who have an inner circle of fellow women have higher chances of landing executive positions, gaining more authority, and receiving increased pay.
Maximising female employees’ potential by enrolling them in mentorship programmes, especially those also led by women, will help them feel more comfortable and confident in expressing their thoughts, ideas, and vision for themselves and the company. Through mentorship, they will acquire new skills, develop their capabilities, improve their personality, and expand their network crucial to securing bigger roles and promotions.
5. Set targets to increase and improve female involvement
Companies must factor in female participation in annual team planning, performance reviews, and in success metrics. Identify gaps in gender equality across all levels of management, departments, and units and create strategies to address issues that may arise.
For example, if a certain department is composed mostly of men, team and HR leaders can form a plan to increase female hires. Another example would be the annual performance recognition; if the top-performing employees are mostly men, there should be a program to support female employees to further excel in their respective jobs. Lastly, if turnover is higher for women than men, business leaders must evaluate work policies, practices, and conditions to determine what is driving female employees to leave the company and what should be done differently.
