Women’s inclusion in governance for sustainable outcomes termed positive

KARACHI: Corporate boards across the world have traditionally been male dominated. A growing body of international research shows that the presence of women on boards and in business leadership positions can have positive effects on the sustainability of organisations.

To celebrate and encourage diversity in the corporate landscape of Pakistan, Diversity Hub-HR Metrics along with Hashoo Foundation and other corporate partners organised “Women for Board Allies” Programme at Marriott Karachi on 25 May, where a strategic dialogue on “Building Inclusive Boards for Sustainable Outcomes” was facilitated.

The discussion was aimed to accelerate identification of top governance strategies to create a positive, sustainable environment for women leaders. Smart economics and financial sustainability demands for an increased participation and inclusion of women leaders across the corporate sectors. The women leaders on the panel of speakers emphasised that diversity and inclusion at leadership positions can create a “ripple effect” across society, communities and transform the eco- system.

Ayesha Khan, Country Director Hashoo Foundation and Chief Sustainability Officer Hashoo Group represented the conglomerate as a key panelist speaker. She stressed the need for encouraging women to aspire for board seats by creating an enabling environment across organizations to give them a sense of what it takes to get there.

She said “The three out of the nine governance strategies that can help bring about real change in organisations are participation, transparency and observing rule of law. All of us must make our participation meaningful and serve as agents of change in the corporate sector to empower future female leaders. This cannot be done just by raising awareness regarding the socio-economic benefits of gender diversity at board level; it requires embedding a long-term sustainability framework that provides for coaching, mentoring and motivating potential Women Leaders. As a Women for Board ally, I strongly believe that we must intensify advocacy in action to promote future leaders, connect and refer them for board of directors and key management roles.”

Zahid Mubarik, CEO HR Metrics shared, “the concept of bottom line impact expands from 3Ps: People, Planet, Profit to 5Ps People, Planet, Prosperity, Peace, and Partnership. Organizations have started to realise that inclusivity is the road to sustainable growth for the greater good of society. To optimize organisational results, creativity, problem solving, talent management and innovation, organisational leaders need to adopt inclusive approaches, management strategies and styles that incorporate different perspectives, cognitive, cultural and linguistic differences, and collaboration.”

HR Metrics maintains a directory of high potential C-suite women and provides referrals to organisations for filling board directors and C-suite positions. This initiative is aligned with Sustainable Development Goal 5 (Gender Equality), State Bank policy on gender inclusion and Pakistan Companies Act 2017 to have women on board in public listed companies. The programme was sponsored by Hashoo Foundation, Engro Corporation, Soneri Bank, JS Bank and AGP Limited.

Copyright Business Recorder, 2022