Although the benefits of gender diversity in the workplace are well known and widely accepted, approximately 75% of women around the world still experience bias at work.1
This manifests in many different forms from subtle (lack of acknowledgement, being interrupted when speaking) to overt (overlooked for job opportunities and promotions, workplace harassment) and creates often intangible but impenetrable barriers that prevent women from fulfilling their potential and block career progression.
Diverse and inclusive teams are essential for success. Research by Deloitte identifies a very basic formula: diversity + inclusion = better business outcomes. 2
In recent years numerous studies have shown that a more diverse C-suite is connected to greater success and profitability. 3,4,5 Companies in the top-quartile for gender diversity on executive teams are 21% more likely to outperform on profitability and 27% more likely to create superior value for their customers. 6
With diverse and inclusive businesses enjoying higher performance and greater innovation, 7 acknowledging and addressing gender bias is vital.
We all have a responsibility
Gender bias can exist at every level of an organisation and be held and perpetuated by both men and women.
A major obstacle to breaking biases is our ability to perceive them. We are all subject to unconscious biases and studies show that less than a third of employees recognise bias when they see it. 1
This means our efforts to combat gender bias and promote equality must be consistent and intentional. As individuals, we must own our part in the change we want to see and take responsibility for our thoughts and actions. Each of us should be bold and challenge inequality when we see it in our workplace and in our communities.
As a famous Chinese philosopher once said and has been quoted many times: "Watch your thoughts as they become your words, and correspondingly – actions". I have set myself some personal goals to be mindful of my own thoughts, words and actions, to challenge my own unconscious biases and to seek out new ways to break the bias and create opportunities to advance gender parity.
Our role as leaders is to:
- Call out bias when we see it and champion a culture that empowers others to do the same
- Be a role model of an unbiased and inclusive leader
- Engage in authentic conversations to facilitate progress
- Be allies and create opportunities to encourage, empower and elevate women
- Be conscious of our behaviour, language and actions
- Make a conscious effort to hire, promote and support female leaders
Our five commitments to breaking the bias and creating a diverse and inclusive culture
Building a diverse and inclusive environment where people can thrive, grow and achieve their full potential is a priority for all of us at Mundipharma. We believe this isn’t just the right thing, but also the smart thing to do, so that we can truly make a difference when it matters most for our customers and their patients. One thing I am proud of is that our C-Suite is 42% female and two of our three commercial executives are women. This provides role models for women in the business and sets a clear tone at the top.
We have made five commitments to break the bias and track inequality in our workplace. They are:
- Gender balance at Director level roles and above globally by 2025
- Unconscious bias training for all employees
- Training for all hiring managers to mitigate bias in the recruitment process
- Introduce blind CVs and diverse hiring panels
- Continued focus on equal gender balance on our talent review programmes
This week we’ll seize every opportunity to celebrate women across our business and as we come together around the globe to imagine a world free of bias, stereotypes and discrimination, front of mind will be the personal and company commitments we’re making to break the bias on International Women’s Day and beyond.
Carina Vassilieva, Chief Human Resources Officer, Mundipharma
References
- LeanIn.org Accessed 04 March 2022.
- Deloitte. The diversity and inclusion revolution: Eight powerful truths. Accessed 04 March 2022.
- Credit Suisse. The CS Gender 3000: The Reward for Change. Accessed 04 March 2022.
- McKinsey & Company. The Research Behind Women Matter: 10 Years On. Accessed 04 March 2022.
- Peterson Institute for International Economics. Is Gender Diversity Profitable? Evidence From a Global Survey. Accessed 04 March 2022.
- McKinsey & Company. Delivering through Diversity. Accessed 04 March 2022.
- Boston Consulting Group. How Diverse Leadership Teams Boost Innovation. Accessed 04 March 2022.