7 in 10 Singapore employers yet to have diversity, equality and inclusion policies: Report

7 in 10 Singapore employers yet to have diversity, equality and inclusion policies: Report

About six in 10 companies have made a headstart toward incorporating DE&I as a factor of their hiring and promotion.

SINGAPORE (THE BUSINESS TIMES) – The majority of Singapore firms recognise the positive impact of diversity, equality and inclusion (DE&I) but seven in 10 have yet to introduce such policies, according to a report by the Singapore National Employers Federation (SNEF) and Kincentric.

The survey of 186 Singapore-based employers spanning 19 sectors found that 71 per cent of employees recognised the positive impact of DE&I on company culture and 55 per cent recognised its impact on employee engagement.

About six in 10 (62 per cent) have made a headstart toward incorporating DE&I as a factor of their hiring and promotion.

But one-fourth of those surveyed highlighted the lack of available data such as gender pay gap, inequality in career progression, age-based performance and barriers to participation in work for those with disabilities or caring responsibilities as challenges to implement DE&I.

The remaining firms highlighted the inability to embed DE&I into organisational values, people management and employee behaviour (24 per cent), and at times, the ineffectiveness of line managers when managing their teams in a non-discriminatory manner (22 per cent).

Standalone events such as International Women’s Day celebrations are viewed as less effective (11 per cent), as most companies have yet to implement DE&I policies and do not engage their staff over a long term.

Andrew How, managing partner at Kincentric, said: “We have observed that many firms struggle in making employees feel emotionally safe, understood and empowered. Therefore, the first step to remedying the situation is to conduct an honest, internal assessment of the organisation’s current situation using a holistic, evidence-based approach.”

Following which, they need to enact new ways of leading which involves creating active, intentional efforts with coaching, developmental journeys, tools and resources to improve one’s ability to identify and mitigate any unconscious bias, he said.

Kincentric added that DE&I pulse surveys and focus groups can help senior leaders track sentiments and progress on DE&I efforts and goals given that there is often a significant gap between the perception of diversity and inclusion, and the reality within the organisation.

Employers can tap on the OneWorkplace.sg initiative which is managed by SNEF and supports employers’ efforts to foster workplace integration. Firms in Singapore can also apply for the Community Integration Fund (CIF) which provides co-funding of up to 80 per cent of the total qualifying costs, capped atS$100 per person or $30,000, whichever is lower.

Firms can further benefit from briefings, workshops and WSQ courses, conducted by SNEF, to better understand, appreciate and build DE&I at the workplace.

Sim Gim Guan, executive director of SNEF, said: “By managing DE&I better, employers can strengthen workplace relations, collaboration and innovation. Building on workplace fairness, employers can develop inclusive workplace policies and practices that will attract and retain the best talent.”

Internet Explorer Channel Network
News Related

OTHER NEWS

Banking Central | HDFC Bank's rising retail restructured loans hint at fate of other banks

On July 24, a Moneycontrol report  had highlighted how an aggressive retail bet of banks in the Covid phase could prove to be risky if the economy took longer to wriggle ... Read more »

PharmEasy raises $350 million in pre-IPO round: Report

Online medical store PharmEasy has raised nearly $350 million ahead of filing their draft red herring prospectus (DRHP), a report in The Economic Times said – citing regulatory documents and ... Read more »

High energy bill threatens company profitability

High energy prices can put many companies in trouble. If they can’t pass on the higher costs, the entire profit is wiped out. This is apparent from a study by ... Read more »

China's economy stumbles on power crunch, property woes

China‘s economy hit its slowest pace of growth in a year in the third quarter, hurt by power shortages, supply chain bottlenecks and major wobbles in the property market and ... Read more »

Zerodha down: Company informs users of possible issues with stocks sale

Online brokering firm Zerodha. Zerodha has informed users that they may face issue with authorising stocks sale. The company said it is experiencing issues with CDSL and are in touch ... Read more »

Prominent personalities appeal to Bangladesh PM Sheikh Hasina to take action against those involved in vandalism of Durga Puja pandals

Bangladesh’s Prime Minister Sheikh Hasina. Prominent public figures in West Bengal, including educationists, theatre personalities, writers, film actors, directors, political leaders have issued an appeal to the Sheikh Hasina government to track those ... Read more »

Hindalco shares hit new 52-week high after global brokerage retains 'outperform' call

Hindalco Industries‘ share price jumped more than 5 percent in the morning session on October 18 after Credit Suisse reiterated the “outperform” call on the stock and raised target to ... Read more »

Coronavirus Update | Active COVID-19 cases lowest in 221 days

Since the beginning of the country’s vaccination drive, 69.26 crore people have received at least one dose of Covid-19 vaccine, and 27.88 crore are fully vaccinated. (Representative image) India added ... Read more »

Investing in cryptocurrencies? Here's how you can store them safely

Representational image Investors and traders alike are excited about crypto assets. But we usually find them in a fix. Where should they store their crypto for easy access and safety? ... Read more »

China growth slows down to 4.9% as sluggish realty, power crisis weigh on economy

File photo of Shanghai city (Unsplash) China’s National Bureau of Statistics (NBS) on October 18 said the country’s GDP growth rate for the third quarter was 4.9 percent, which was lower than ... Read more »

Malaysia's AirAsia X proposes paying just 0.5% of $8bn debt

An AirAsia X Airbus A340 passenger jet arrives on its inaugural flight from Kuala Lumpur to Paris Orly Airport, on Feb 14, 2011. (Photo: Reuters) KUALA LUMPUR: AirAsia X Bhd ... Read more »

What is the Indian Space Association?

With private ambition in space industry rocketing, the country launched Indian Space Association on October 11. This association of private space and satellite companies, and government bodies such as Indian ... Read more »

Gold Price Today: Yellow metal to remain choppy, experts say traders can buy on dips

Gold prices edged up on October 18, recouping some of the losses after a steep selloff in the previous session as US bond yields and the dollar softened, restoring some ... Read more »

Banks queue up to offer attractive home loans: Here's a checklist for borrowers

The keys to your dream home are just a decision away. We have the lowest ever home loan interest rates. There are also festive offers in the form of processing fee waiver. ... Read more »

Top 10 options to bet on as markets scale record highs

It was a historic week for the Indian equities as the Nifty50 scaled 18,300 and the BSE Sensex climbed above 61,000 mark for the first time and also held these ... Read more »

New Zealand PM Jacinda Ardern extends COVID-19 lockdown in Auckland

New Zealand Prime Minster Jacinda Ardern said on Monday that the country’s biggest city Auckland will remain in lockdown for another two weeks as it looks to control the spread ... Read more »

What should investors do with Avenue Supermarts after Q2 results: buy, sell or hold?

Avenue Supermarts share price touched a 52-week high of Rs 5,899.90, rising nearly 11 percent in the early trade on October 18 after the company reported a strong sets of numbers ... Read more »

Sensex at 61,000, but investors exit large-cap funds: Have mid and small-cap schemes turned more attractive?

The run-up in the equity markets has increased mutual fund (MF) investors’ appetite for risk. In 2021 (CY21) thus far, mid and small-cap schemes have garnered net flows of Rs ... Read more »

Pacific Edge raises over $100m in oversubscribed offering

Pacific Edge closed its capital raising oversubscribed after raising over $100 million as it aims to accelerate its growth strategy. The cancer diagnostics company said it had raised $103.5m of ... Read more »

Dutch Bros. currently outperforming Starbucks and Dunkin'

Dutch Bros.’ drive-thru business model allowed minimal customer contact during transactions.  Dutch Bros. latest sales numbers show that its outperforming Starbucks and Dunkin', the two largest coffee chains in the ... Read more »

JD Logistics goes shopping for planes to tap air freight demand

BEIJING (BLOOMBERG) – JD Logistics is planning to set up its own fleet of planes as the Chinese firm eyes a greater slice of a cross-border cargo market engulfed by ... Read more »

Malaysia's AirAsia X proposes paying 0.5% of S$10.3b debt owed to creditors

KUALA LUMPUR (REUTERS)- AirAsia X Bhd (AAX) is proposing to pay just 0.5 per cent of debt owed to each of its creditors and to terminate all existing contracts so ... Read more »

Facebook looks to capitalise on India's gaming boom

India is the third largest market for Facebook in terms of game play sessions, clocking 234 million sessions in the two month period during July and August 2021, a top ... Read more »

Dispute management office recovers $13m in owed salaries, compensation for wrongful dismissal

SINGAPORE – Employees who made claims for owed salaries or wrongful dismissal between April last year and March this year managed to recover $13 million in total from their employers. ... Read more »

Top 4 Indian firms to hire 1.6 lakh freshers in FY22

The top four Indian IT companies – TCS, Infosys, Wipro and HCL Tech – have doubled their hiring targets for 2021-22 to 1.6 lakh freshers, as demand surpasses supply with ... Read more »

Second-hand brand name seller uses AI system to detect fakes with 99% accuracy

Komehyo initially focused on Louis Vuitton products before covering goods from five major brands, including Chanel, Hermes, and Gucci. Komehyo Holdings Co., a leading seller of second-hand brand-name goods, is ... Read more »

Hong Kong stocks slip as China's economic reports dent risk appetite while tech firms struggle on regulatory concerns

Hong Kong stocks slipped as risk appetite waned after a government report showed China’s economy slowed more than market expected last quarter while manufacturing cooled amid a power crisis. Tech ... Read more »

Tesla CEO Elon Musk sparks Shiba Inu cryptocurrency surge with single tweet

Elon Musk has yet again shown the power of a single tweet. The Tesla CEO posted a text art image of the Japanese dog Shiba Inu/joke cryptocurrency with a rocket ... Read more »

Cryptocurrency Prices Today on October 18: Bitcoin, Dogecoin rise; Ethereum slightly falls

Bitcoin | Representative image Cryptocurrency prices continue to be in a mix of red and green on October 18. The global cryptocurrency market cap is Rs 187.57 lakh crores, a 0.92 percent ... Read more »

Buzzing Stocks: HDFC Bank, Avenue Supermarts, HCL Tech and other stocks in news today

Results on October 18 | UltraTech Cement, Larsen & Toubro Infotech, Route Mobile, Alok Industries, Concord Drugs, Craftsman Automation, Gujarat Hotels, Hathway Bhawani Cabletel & Datacom, Hatsun Agro Product, International ... Read more »

BJP national office-bearers to meet today; Polls, farmers' protests may be discussed

Representational image. The BJP‘s national office bearers will meet on Monday to discuss a host of issues ranging from the upcoming five state assembly polls to the farmers‘ agitation and ... Read more »

Gujarat govt allows Eid-e-Milad processions on October 19 with certain curbs in view of coronavirus

Other names included in Bhupendra Patel’s cabinet are former state BJP President Jitu Vaghani, Rushikesh Patel, Raghavji Patel, Purnesh Modi amond others. (File image of Bhupendra Patel taking oath as ... Read more »

China Q3 GDP growth hits 1-year low, raising heat on policymakers

China’s economy grew at the slowest pace in a year in the third quarter, hurt by power shortages, supply bottlenecks and sporadic COVID-19 outbreaks and raising heat on policymakers amid ... Read more »

Congress high command will decide on CM after 2023 polls, every one will abide by it: Siddaramaiah

Siddaramaiah Senior Congress leader Siddaramaiah on Sunday said the party high command will decide on its chief minister after winning the 2023 assembly polls in Karnataka, and whomever they name, ... Read more »

Daily Voice | Markets may see 5-8% correction soon but Sensex may hit 200,000 by 2030: Gaurav Dua of Sharekhan

Gaurav Dua, Head Capital Market Strategy at Sharekhan by BNP Paribas, believes it would not be a surprise if the benchmark indices correct by 5-8 percent since the markets have ... Read more »

Hong Kong muscles in on Singapore's China stock futures monopoly

SINGAPORE (BLOOMBERG)- Hong Kong is starting futures contracts that make it easier for international investors to bet on mainland Chinese stocks, intensifying rivalry between the city’s bourse and its Singapore ... Read more »

Yuvraj Singh arrested in alleged casteist remarks case, released on bail: Haryana police

The Haryana Police said cricketer Yuvraj Singh was arrested and released on bail in an alleged casteist remarks case in compliance with a high court order. The Haryana Police said ... Read more »

Facebook will hire 10,000 European engineers to create metaverse

This investment is a vote of confidence in the strength of the European tech industry and the potential of European tech talent, the company said Read more »

Kerala Lottery Result: 'Winwin W-638' lottery winners to be announced at 3 pm

Kerala had set up India’s first lottery department in 1967. Kerala Lottery Result: The Kerala State Lottery Department will announce winners of the ‘Winwin W-638’ lottery on October 18 at 3 pm ... Read more »

Data Scientists Issue Reports on Growth of Cloud-based Marketing Techniques

Several unconnected groups of data scientists have recently issued reports regarding the growing role of the cloud as it applies to marketing practices. As marketing campaigns have grown increasingly more ... Read more »