Embracing Equity for Sustained Success

Dear colleagues, customers, partners, and stakeholders.

As we celebrate International Women’s Day around the world, it provides us with an opportunity to reflect upon the immense contribution females make to families, society, business, and the economy. It also reminds us of the numerous challenges that have been tackled so far to reach where we stand today. Let us peruse the following statistics:

• Women constitute approximately 50% of the world's population.
• According to UIS data, less than 30% of the world’s researchers are women.
• As per an IPU’s annual report, global proportion of MPs who are women clocked 26.5% 
• On average, women globally are paid about 20 per cent less than men, as per ILO.
• Women and girls are responsible for over 75% of all unpaid care and domestic work (UCDW) globally, contributing over three times more labour than men.
• According to a Grant Thornton Business Report, women holding senior leadership positions in mid-market businesses globally is 31%.

These numbers speak aloud about the current state of affairs and the need for accentuated efforts to bridge the divide between both genders at every level of society.

While we focus on ‘embracing equity,’ it is essential to understand what equity means and how does it differ from equality. Equality means giving everyone the same thing or treating everyone the same. Equity means giving everyone what they need to be successful. It means recognizing that different individuals have different needs and taking steps to address those needs in order to promote fairness and opportunity. Equity is about creating a level playing field where everyone has the opportunity to succeed, regardless of their gender, race, or background.

There are four important areas that we need to focus on to move towards embracing equity at the workplace or in business: diversity and inclusion, unconscious bias, mentorship and sponsorship, and teamwork.

American author Verna Myers puts it just right when she says, “Diversity is being asked to the party; inclusion is being asked to dance.” Accordingly, it is not only about hiring a diverse workforce, but also creating an inclusive workplace where every employee feels valued and included. When employees feel like they are part of the team and that their contributions are appreciated, they are more likely to be engaged, productive, and loyal to the company.

Now, let’s think about unconscious bias. We all have unconscious biases, whether we are aware of them or not. These biases can affect our decisions on hiring, our performance evaluations, and how we perceive others. In order to create a more equitable workplace, we must first acknowledge and understand our own biases and then take steps to mitigate their impact.

Research has shown that women and minorities are often underrepresented in leadership roles, and that one of the main reasons for this is a lack of access to mentors and sponsors who can help guide and advocate for them. As leaders, it is our responsibility to identify and support talented employees, regardless of their background, and to help them reach their full potential. And here comes the much-needed role of sponsorship and mentorship.

There is an African proverb, "If you want to go fast, go alone. If you want to go far, go together." The importance of teamwork and collaboration in achieving long-term success is indispensable. When we work together and support one another, we can achieve more than we ever could on our own. Research has shown that companies with diverse and inclusive workplaces are more innovative, more productive, and more profitable. By creating a workplace that values and respects every employee, we are not only doing the right thing, but we are also setting ourselves up for sustained success.

At Liberty Life Assurance Uganda, I am proud to say that we have always been committed to promoting diversity and inclusion and driven towards embracing equity. We practice what we preach and create the best conducive environment, learning & developmental opportunities and support one another. Our female colleagues occupy most of the leadership positions and actively drive the business and operations at every level. We believe that every employee has a unique set of skills, experiences, and perspectives that they bring to the table, and that it is our responsibility to create an environment that values and respects those differences.

This International Women's Day and every day, we convey our heartfelt thanks to all our female colleagues, customers, partners, and stakeholders for their immense contribution, care, hard-work, support, and dedication. We will continue to work towards a future where equity and inclusion are the norm. With this, I open the comments section for ideas, suggestions, and initiatives that can take us to the next level in embracing equity. In it, With You!

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