Business Case for Diversity

Corporate boards across the world have traditionally been male dominated. A growing body of international research shows that the presence of women on boards and in business leadership can have positive effects on the management, financial and social performance of companies. McKinsey’s 2020 report: Diversity Wins: How Inclusion Matters analysts found that, “Companies in the top quartile for gender diversity on their executive teams were 25 percent more likely to experience above-average profitability than companies in the fourth quartile,” as well as “36 percent likelihood of outperformance on EBIT margin for ethnic and cultural diversity.” Sustainable Development Goal 5 calls for gender equality. Environment, Social and Governance (ESG) disclosure frameworks across the world emphasize gender equality to ensure long term sustainability of organizations, industries, economies, and the world. To optimize organizational results, leaders need to adopt an inclusive approach towards management strategies and governance that incorporates diverse perspectives, combined with varied cognitive, cultural and linguistic collaboration.

What is Women for Board Allies Initiative?

Diversity Hub-HR Metrics is leading the “Women for Board Allies” initiative. It focuses on encouraging women to aspire for board roles and impart a sense of what it takes to get there. It is distinct from Directors Training Program (DTP), which focuses on the knowledge and skills for member board of directors. Diversity Hub’s mission is to empower women by raising awareness regarding social and economic benefits of gender diversity at board level, identify high potential women, connect, and refer them for board director and leadership roles.

our goals

Our purpose is to provide a platform, project “top of mind” awareness and encourage women to aspire for Board leadership positions through a transparent process for eligibility and selection for inclusion in the Women Leaders’ Directory.

Directory of Women Leaders for Board

On 8th September 2022, presided by 25 influential business leaders, directors, and CEOs, the first edition of “Women Leaders for Boards Directory” was presented and discussed. The event was hosted in the Boardroom of National Bank of Pakistan in Karachi. The 1st Edition of Women for Board (WFB) Directory showcased 40 women with diverse experience and achievements, worthy of Board roles.

The 2nd Edition comprises 31 women of unique professional standing in C-suite or already in a board director role. It is in no way presumed to be an exhaustive list but developed on the basis of women known in the industry for their achievements and wide range of diverse experiences. The Directory is expected to offer opportunities for women leaders to network, mentor and develop.

Maheen Rahman

Chairperson Steering Committee Women for Board Allies

Musharaf Hai

Former CEO Unilever and L’Oréal Pakistan (Former Chairperson Steering Committee, Women for Board Allies)

“Achieving gender diversity in corporate boards is a journey, which requires not only firm support and collaboration from stakeholders, but most important, policies to accelerate and encourage women leaders in top leadership and board roles.”

Zahid Mubarik

SHRM-SCP, SPHRi, GPHR CEO HR Metrics

“As organizations become increasingly agile in their business model, supply chains, shared services and operational processes; stakeholders need diversity, equity and inclusion to be integrated with business for sustainable outcomes.”

Eligibility Criteria

Possess professional skills relating to leadership, governance, profit and loss responsibility, board exposure, management experience and mentoring.
Skills can include specialty experiences like e-commerce, digital/technology, human resources, M&A, and marketing.
Senior women with professional credentials from all sectors of business, industry, academia, and the civil society having at least 15 years of work experience.
Women already serving in C-Suite roles and/or on boards and Pakistani women having international experience.

Process

1. Women who wish to be listed in the Directory, can express their interest to HR Metrics at info@thehrmetrics.com. (1st April – 31st May 2024)
2. Upon receipt of email, HR Metrics will send a template for profile to the applicant to fill and return along with high resolution professional picture. (1st April – 31st May 2024)
3. DEI Coordinator will review the profile as per template specifications. In case of inconsistency, the applicant will be informed to revise and resend. (1 Apr – 31st May 2024)
4. DEI Coordinator will proofread all profiles and send Steering Committee for approval. (1 Jun-30 Jun 2024)
5. DEI Coordinator will inform all applicants regarding acceptance/non acceptance of profiles. (1 Jul-31 Jul 2024)
6. DEI Coordinator will send all approved profiles for designing. (1 Aug-31 Aug 2024)
7. DEI will approval of directory design and cover page from Steering Committee (1 Aug-31 Aug 2024)
8. Finally approved design will be printed before 15 Sep.
9. Printed and digital copy of directory will be sent to all members before 30 Sep 2024
10. Marketing Team will ensure wider circulation of directory to all stakeholders.

Selection Criteria

The Applicant meets board director criteria, prescribed by SECP Code of Corporate Governance. https://kkconsultant.net/regulations-for-selection-of-independent-directors-in-secp/
Candidate is a graduate from an HEC recognized university and/or is a member of a recognized professional body.
Has at least 15 years of work experience, of which, 3 years should be in C-Suite position.
Full names and email IDs of two references.

The Steering Committee will assure of the bonafides by reviewing the overall credentials of the candidate. If more than one member has any reservation on the credentials, the case may be deferred pending further review or rejected.
Approved profiles will be considered for final publishing in the Directory by HR Metrics.