KARACHI: Pakistan Business Council in collaboration with the International Finance Corporation (IFC), launched the ‘Employer of Choice for Gender Diversity Awards 2022’ through a virtual session.

The Awards process revolves around the gender diversity and disclosure scorecard. Participating companies from represent diverse sectors of the economy are invited to apply for the awards. ‘Developing on the diagnostic results and analysis, the PBC is proud to collaborate with the IFC and announce the upcoming Gender Diversity Awards 2022’ announced Ehsan Malik, CEO Pakistan Business Council. ‘Through our Centre of Excellence in Responsible Business, we will encourage and assist organizations in Pakistan to put themselves in the running to be highlighted as Employers of Choice in the country’s private sector’.

The diagnostic survey undertaken in October 2021, highlighted two-thirds of respondent companies have less than 5 percent women in senior management positions and 60 percent of the companies have either none, or only one female member on their board of directors. ‘Investors increasingly recognize that firms taking positive actions and publicly declaring gender equality practices are likely to be more resilient in the current crisis, and better equipped to succeed in the future’ remarked Ahsan Jamil, CEO, Pakistan Institute of Corporate Governance.

‘For companies to establish greater accountability and transparency of gender equality claims, it is recommended that targets on gender equality (such as those with respect to gender pay gap, employment, retention, and promotion) be made public,’ highlighted Dahlia Khalifa, Senior Manager Creating Markets Advisory, IFC. ‘We know from our experience globally that policies to promote gender equality lead to increased resilience and profitability for firms.’

By effectively communicating and showcasing how firms manage their workforce and how they integrate gender-related information into public disclosures, firms can build a strong brand image for their consumers, investors and to the greater public. ‘In addition to implementing gender inclusion policies, we also encourage firms to disclose these policies publicly’ reflected Charles Schneider, Private Sector Specialist, IFC. The results of the awards will be announced in March 2022.

Copyright Business Recorder, 2021