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Last year, the world changed, and deep-rooted societal inequalities were thrust into the spotlight. As a result, we must step up – as a society, organizations and individuals – to address the gender disparities we see each day. Business can and must play a role in leading change, and the first step is to elevate inclusion and diversity (I&D) within the organization as a strategic business priority and to drive this change forward.
Women make up half the world’s population, potential and talent so they must be represented at all levels of society. However, according to
The World Economic Forum it will take an estimated 250 years to close the gender pay gap. There are two contributing factors: One is unequal pay for equal work. The other is the difference between the aggregate average pay for women and men. The latter may be in part caused by unequal pay for equal work, but the bigger contributor is the underrepresentation of women in higher paid industries and senior roles.
There is no silver bullet to achieving gender balance, but we must start somewhere. Some companies like Philip Morris International (PMI) have demonstrated their steadfast commitment to the principles of equity, integrity, diversity and inclusion. PMI became the first multinational company to receive global EQUAL-SALARY certification by the independent EQUAL-SALARY Foundation, meaning that they pay women and men equally for equal work everywhere they operate. The process to become EQUAL-SALARY certified brings awareness and transparency on many of these more complex topics – in areas of recruitment, promotion and retention – and once identified, action plans to improve are put in place.
‘‘Our workplace principals are founded on fairness and equal opportunities for all, taking into account individual differences and starting points. That’s why we have set ourselves the goal to increase the representation of women in management roles to at least 40% by 2022 globally. We had to start somewhere, so we decided to start with an Equal-Salary Certification and implement more employee-centric policies such as flexible working arrangement. And I’m delighted to be a part of the Hong Kong market where we have more than 50% of women in management roles here today, and have been certified Equal-Salary Certified for three years in a row. We are seeing this is not only bringing more diverse voices into our important business discussions, but also supporting both men and women's talents to pursue their career aspirations. And this is just the beginning, I know there’s still more work to do in order to create a more inclusive workplace for everyone,’’ said Tammy Chan, Hong Kong’s homegrown female executive in PMI.
Inclusivity is also a smart business decision, said Chan: “Having worked in PMI for more than two decades across different markets, I have experienced first-hand how an inclusive and diverse workforce could drive employee engagement, boost productivity, and spur innovation leading to greater long-term success. For me as a female executive who is ‘made in Hong Kong’ and had stationed in Thailand, Australia and Europe with PMI, I always believed that diversity is a strength to drive creativity and innovation, especially when we open up for conversations and welcome disruptive ideas from talent of different background, culture, gender and skills. As we transform our business to provide better and scientifically substantiated alternatives to cigarettes, bringing out the best of our talent by increasing diversity is essential.’’
