WOMEN Entrepreneurs Business Council (WEBC) in conjunction with the International Labour Organization (ILO) launched two crucial position papers which were outcomes from the ILO survey undertaken as part of the recent WEBC WIN Convention held on March 22nd and 23rd, 2024.
The papers will pave the way for the adoption of Diversity & Inclusion (D&I) policies within the WEBC Council.
The breakfast launch event featured a panel discussion involving the chair of Women Entrepreneurs Business Council, Sharyne Fong, director of the Bureau for Employers’ Activities (ACT/EMP) at the International Labour Organization Deborah France-Massin and General Manager People and Culture BSP Life Arieta Cama.
The panellists had some robust discussions and shed light on inclusion of strategies women have used to overcome gender bias in workplaces and what roles can female leaders play in the lives of the other marginalised women; specially for women with disabilities. The business landscape in Fiji, like in many parts of the world, is evolving rapidly.
In this dynamic environment, diversity isn’t just a moral imperative; it’s a strategic advantage.
Organisations that prioritise diversity and inclusion are better equipped to navigate complex challenges, foster innovation, and drive sustainable growth.
Moreover, fostering a culture of inclusion is not only the right thing to do; it’s also good for business. Research has consistently shown that diverse teams outperform homogeneous ones, bringing a breadth of ideas, experiences, and insights that lead to better decision-making and enhanced creativity.
WEBC’s commitment to adopting diversity and inclusion policies serves as a catalyst for broader societal change.
However, achieving a nationwide transformation requires collective efforts.
Therefore, we urge all members to actively participate in advocating for diversity and inclusion initiatives across Fiji.
WEBC stands firmly behind the compelling business case for Diversity and Inclusion.
Businesses embark on their diversity and inlcusion journey for various reasons, as it often aligns with their core values and is regarded as a moral imperative.
Moreover, it serves as a strategic approach for addressing micro-level challenges such as skill shortages, enhancing enterprise-level reputational management, and meeting Environment, Social, and Governance (ESG) requirements.
In 2019, the International Labour Organization (ILO) conducted a comprehensive survey across 70 countries involving almost 13,000 businesses.
The findings revealed that companies actively promoting gender diversity initiatives, particularly in elevating women into management roles, experienced significant profit increases, with nearly 74 per cent reporting a rise ranging from 5 to 20 per cent.
Additionally, more than 60 per cent of surveyed enterprises reported enhanced profitability and productivity as a result of improved business outcomes.
These statistics are noteworthy, especially when compared to the marginal increases of 2-3 per cent that companies typically strive for through other measures.
Although authoritative data specific to Fiji on the business outcomes associated with diversity and inclusion are currently unavailable, studies conducted by MDF (Market Development Facility) have shed light on the positive impact of hiring and retaining women within the private sector.
These studies indicate a correlation between gender diversity initiatives and decreased turnover rates alongside increased productivity.
In essence, the compelling evidence from global surveys and localised studies underscores the undeniable benefits of embracing diversity and inclusion within the business realm.
As we strive for inclusive practices, it is imperative for businesses in Fiji and beyond to recognise the tangible advantages that diversity and inclusion initiatives offer, not only in fostering a more equitable workplace but also in driving sustainable growth and prosperity.
WEBC chair Sharyne Fong expressed her heartfelt thanks to ILO for their support in this initiative.
“We are extremely grateful to ILO who through their support WEBC was able to collect quantitative and qualitative data at the recent WIN Convention for updating into two Diversity & Inclusion publications.”
The soft launch of this publication briefs was to raise visibility and build momentum as part of the outcomes of the WIN Convention that was held on March 22-23, and to gather further feedback from members, partners and those present at the business breakfast for updating into the final publications.
