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Despite multiple studies and reports pointing to the importance of having a diverse and inclusive workplace, Asian countries still has a long way to go in that aspect.
According to the findings in the 2016 Hays Asia Salary Guide, which surveyed more than 3,000 employers across Malaysia, Singapore, Hong Kong, China and Japan, up to 30% of organisations do not have a formal diversity policies and procedures in place.
Although 51% of organisations report having such policies, 19% were unsure of what their organisation was doing on diversity.
Of those with a formal diversity program, nearly 4 out of 10 (39%) were unsure of their organisation’s performance on the programme and 7% admit those programmes are not doing well at all.
Only 20% claim their company adheres to policies and practices “well”.
According to Hays, diversity in all its forms is about providing organisations with a greater range of options when it comes to talent and workforce strategies.
Asia’s world city is certainly not living to its reputation as a global workplace with only 28% women filling management roles down from 31% the year before and 33% from 2 years ago.
When it comes to cultural diversity, foreign employees comprise 18% of Hong Kong’s workforce, according to the guide.
“Both gender and cultural diversity strengthen the problem solving abilities of an organisation and promote a greater range of knowledge and experience to share across the entire workforce,” says Christine Wright, Managing Director of Hays in Asia.
“Localisation efforts rightly protect local employment markets where there is suitable local talent available, but in the current climate critical skills shortages exist. Companies able to tap into a global talent pool will perform better than those that must leave key roles vacant or make do with lesser qualified candidates.”
“The same can be said for those companies actively building their pipeline of female talent. When promoting from within, organisations that actively practice gender diversity have a much bigger talent pool to choose from,” said Christine.