Singapore - Difficult as it can be for companies during these tough financial times, it is especially important HR continues to uphold diversity and meritocracy values within their organisations.

Companies which already have diversity inclusion programmes within their communities should continue to do so and not pare them down just because of tightening budgets. Otherwise, says UBS at the recently held Conference on Fair Employment Practices, all the previous efforts to encourage inclusion will have gone to waste. It is very important HR makes sure there is consistency of corporate messages both in good and bad times.

Leona Tan, director of community affairs and diversity adviser for UBS AG, says, "This is really what our senior managers believe in because to us, we are already one foot through the door."

Admitting though that it has been difficult to believe in diversity, considering the bad press UBS has gone through the last year or so, Tan adds, "Employees are losing perspective and belief [in diversity and meritocracy], especially in a redundancy exercise."

It was announced recently by various media that there will be an additional 2,000 job cuts at UBS' investment banking unit as it aims to return to profit this year. The last 15 months through last December had also seen UBS cut 9,000 jobs worldwide.

This is why assurance from both her CEOs for the APAC and Singapore divisions made her realise the importance of continuing to emphasise such values to staff even in times like this. "We keep telling our staff ‘It's okay if you want to make flexible work arrangements. It is not going to be taken against you just because you've decided to work three or four days a week'."

"At the end of the day, it is about meritocracy, performance, giving back and being able to do what you are there for."