In an organization, diversity, equality, and inclusiveness (DEI) assist bring diverse viewpoints and ideas to build more innovative, productive, and resilient businesses. At all stages of the employment relationship, including hiring, retaining employees, promoting them, compensating them fairly, and giving them access to training and skill development, it also helps to ensure that everyone has the same opportunities and is treated fairly.
Over the past three decades, the gender gap in organisations has narrowed, attributed to labour mobility worldwide. There has been an increasing global awareness that all workers have a right to a dignified and respectful workplace irrespective of their sexual orientation and ethnicity, which helps to promote an open and inclusive workplace. However, labour market disruption due to the COVID-19 has had devastating consequences globally. According to International Labour Organization (ILO), women’s employment declined by 5% globally in 2020 compared with around 4% for men.
Globally, banks are reporting diversity and inclusivity to ensure that all genders and backgrounds have a more equitable and inclusive workplace. Companies and banks benefit from a diverse workforce by attracting new customers as people want to do business with institutions that share their values.
HSBC Holdings Plc (HSBC) is a provider of banking and financial solutions. It offers retail, business, commercial banking, private banking, and wealth management services through its subsidiaries. In 2021, the company reported 51.8% women participation in its workforce. Representation of women in the company at the senior management level increased to 31.7% by 1.4 percentage points over 2020.
In 2021, the representation of Asian employees of HSBC Holdings Plc in the US was 22.9% which decreased by 0.4 percentage points from 2020. Black & African American and Hispanic & Latino employees represented 7.2% and 10% of the US workforce, respectively.
HSBC Holdings Plc aims to have 35% women in senior leadership roles by 2025, where they had already reached 31.7% of its target.
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