GENDER EQUALITY
• 27 % more likely to demonstrate superior value creation
• 33 % more like to have industry-leading profitability when also factoring in strong commitments to ethnic and cultural diversity
Ultimately , these encouraging figures point to one thing : enhanced inclusivity equals improved capacity for innovation . Deloitte even speculates in ‘
Achieving gender equity in the fintech community ’ that a flood of new ideas on par with the post-2007 / 08 financial crisis acceleration could take place under such circumstances . This is what underscores Hines ’ supply chain focus , “ you can only have a seat at the table if someone opens the door for you .” Unlocking value and gaining a competitive advantage can be the prizes for those who give priority to equality .
Collaborating on a solution It could be argued that there has never been a greater need for gender equality in the workplace than now :
COVID-19 has had a disproportionately negative effect on women , with one-third reporting losing work opportunities because of childcare responsibilities – a figure which rose to 44 % among BAME women . In recognition of this , Citi has given over $ 100m in COVID-related community relief and economic recovery efforts , including participation in the US ’ PPP ( paycheque protection programme ).
Citi ’ s example also underscores the importance of establishing partnerships to address large-scale issues . One such partner is non-profit organisation
WEConnect International : “ We ' ve been involved with it for a number of years and it ' s been an amazing partnership ,” Hines explains . “ Citi initiated the goal not just to spend more with female-led companies , but those specifically
“ By collaborating with WEConnect , Citi has been able to engage in some very meaningful partnerships ”
I . JAVETTE HINES DIRECTOR & HEAD OF SUPPLY CHAIN DEVELOPMENT , INCLUSION AND SUSTAINABILITY , CITI
in developing countries . As a business , we needed to know where those opportunities were , and , in situations where there are none , how to work and connect with others to build capacity .” This is where WEConnect comes in : it enables female business leaders to compete in the global market by breaking down old barriers through the self-reinforcing principles of ‘ connect , educate and assess ’. “ By collaborating with WEConnect , Citi has been able to engage in some very meaningful partnerships ,” says Hines .
Hines makes it clear that Citi has made significant strides in tackling the issue of inequality , even if significant work remains to be done . But what about those companies which aspire to enhanced inclusivity but don ’ t know where to begin ? Hines states that it is simple : set realistic goals . “ You really need to understand your baseline and work from there . How many women are you already doing business with ? Once you know that , you can put together a plan for improvement . You can always do a little bit better .” Next , she advises seeking out stakeholders who share mutual goals , whether it be hiring more women