BENEFITS & CHALLENGES OF DIVERSITY IN THE WORKPLACE AS AN ESSENTIAL FUTURE SKILL.
The Economist Businesswomen Club recently hosted Saima Nambinga, Board Director at Liberty Life, as the guest speaker for their networking breakfast held on April 21 at the Am Weinberg Conference Centre. Nambinga addressed the importance of diversity in the workplace and in leadership roles, emphasizing its positive impact on business.
While acknowledging isolated cases, such as the Silicon Valley Bank Collapse saga allegedly triggered by the use of a transgender person in a campaign, Nambinga advocated for diversity in the workplace. Citing statistics, she highlighted that diverse groups, encompassing different genders, races, and ages, tend to perform better, make sound decisions, and achieve greater profitability.
Nambinga asserted the need for workplaces to embrace individuals from various age groups, genders, ethnicities, sexual orientations, socio-economic backgrounds, and educational levels. According to her, a diverse team is essential for fostering creativity, promoting social justice, enhancing financial outcomes, educating both employees and clients, and reaching previously untapped customer demographics.
In the realm of unspoken diversity, Nambinga stressed the importance of women supporting each other, recognizing the inherent value of empowering women for the overall health and social development of communities. She noted that women often navigate multiple responsibilities, balancing home, work, and social obligations. Despite potential disparities in earnings, Nambinga highlighted that women often possess higher investment capabilities than men.
Addressing the existing gaps in diversity and inclusion, Nambinga pointed out that around 57% of employees feel their companies could do more, with 41% of managers admitting to being too busy to implement inclusive programs. She challenged the notion that treating people equitably is detrimental to business, emphasizing that studies indicate equitable treatment is, in fact, beneficial for business success. Nambinga posed the question: “If treating people fairly is good for business, why would anyone believe otherwise?”