Promoting workplace diversity can be a challenge, especially amid the threats of global health crises and economic disruption. But Philippine business leaders believe it is even more necessary than ever.
At a roundtable discussion hosted by LinkedIn recently, women business leaders in the country underscored their ability to provide soft skills that are of utmost importance in a business environment these days.
“When businesses have people with varied strengths, backgrounds, and viewpoints, they are better able to cultivate the creativity, innovation, and resilience they need to survive and thrive,” said Feon Ang, managing director, Asia Pacific (APAC) at LinkedIn.
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Recent McKinsey research also found that companies with diverse executive teams were 25% more likely to have above-average profitability.
Bridging the gender gap
In today’s shifting business landscape, Ang highlighted how leaders could bridge the gender gap by embracing a skills-first approach to hiring to ensure that female candidates with the right skills are equally considered for an open role. LinkedIn data revealed that employers who adopt a skills-first approach to hiring are 60% more likely to find a successful hire than those who don’t. It also helps with retention, as businesses that help employees develop new skills and grow in the company can retain employees for an average of 5.4 years, a significant increase from the average span of 2.9 years.
“It is critical to put together gender-neutral hiring panels and training for hiring managers and team leaders on removing biases and fair hiring practices that encourage flexibility,” Ang said.
According to LinkedIn, over half of the women appreciate having flexibility at work because it would allow them to balance their careers and personal lives.
Categories: Business Features