Aligning Gender Goals With Long-Term Incentive Payouts

Savi Khanna May 15, 2024

"This ensures that leaders are not only invested in promoting gender diversity but are also held accountable to make tangible progress towards these goals," says Priyank Parakh, Director- HR, Haleon India Subcontinent

In an exclusive interview with Priyank Parakh, Director – HR, Haleon India Subcontinent, we delve into the crucial topic of diversity and inclusive in the workplace with industry leaders. From addressing unconscious bias in hiring to promoting gender equality through parental leave policies, these insights shed light on the proactive measures businesses can take to foster an inclusive environment.

How can businesses ensure their workforce reflects the diversity of the communities they serve?

In today's globalised world, it’s imperative for businesses to have a workforce that accurately represents the diverse communities they serve. A diverse workforce not only drives innovation and enhances decision-making, but also ensures better representation of our customers and communities that we serve. To achieve this, businesses need to make strategic choices aimed at promoting diverse representation.

Some measures undertaken to achieve diverse representation are as follows:

Inclusive Hiring: Implement hiring processes that actively seek out candidates from diverse backgrounds across levels is essential. This includes using inclusive language in job descriptions, sourcing candidates from a variety of channels, and incorporating diverse interview panels to mitigate bias.

Training on Inclusive Mindset: Building an ecosystem where employees and managers are educated on crucial topics such as gender sensitisation, unconscious bias, and developing an inclusive mindset is paramount. This ensures that everyone feels valued and respected within the organisation.

Internal Growth Opportunities: We believe nurturing talent from within by offering opportunities for career advancement and leadership development for employees from underrepresented groups is crucial. Targeted programmes like mentorship opportunities, cohort-based accelerator programmes play a crucial role here.

Employee-Resource Groups: Employee Resource Groups (ERGs) serve as catalysts for change within our organisation. These groups provide a platform for employees to share experiences, advocate for diversity, and drive meaningful initiatives that promote inclusivity.

Inclusive Policies: We're committed to maintaining policies & benefits that foster a culture where everyone can be themselves and feel at their best both inside of work and out. Some of the industry leading policies with which we are creating a level playing field our 26-week gender neutral parental leave, four- week caregiver leave, gender neutral infertility treatment, to name a few.

How can unconscious bias be addressed in hiring and development processes?

Unconscious bias can significantly impact an organisation's ability to cultivate a diverse and inclusive environment. Recognising and addressing these biases is essential to ensure fairness and equity across the board. One effective approach is to embed inclusion and diversity into talent management frameworks and processes. We ensure the presence of diverse interview panels during recruitment processes. By bringing in multiple perspectives, organisations can ensure fair evaluations and minimise the impact of individual biases.

Moreover, a strong narrative around Diversity, Equity, and Inclusion (DEI) in recruiting pitches can set the tone for inclusive hiring practices. Communicating the organisation's commitment to diversity not only attracts diverse candidates but also signals to existing employees the importance of inclusivity.

We also offer annual inclusion and diversity training for all employees on representation and unconscious bias. Furthermore, hosting networking events and engagement activities targeted at candidates from diverse backgrounds can help foster a culture of inclusion within the organisation. These initiatives not only attract diverse talent but also provide opportunities for existing employees to engage with individuals from different backgrounds.

How can businesses align their gender goals to leader’s individual incentives and Long-Term Incentive (LTI) payouts?

The alignment of organisational goals with individual incentives is a powerful strategy to drive meaningful change. This approach signals a resolute commitment to gender equality within our organisation. In our organisation, we have set clear gender-related targets and linked them to leaders' individual incentives and LTI payouts. This ensures that leaders are not only invested in promoting gender diversity but are also held accountable to make tangible progress towards these goals.

Can you discuss the importance of parental leave policies in promoting gender equality in the workplace?

Parental leave policies are pivotal in promoting gender equality in the workplace. By recognising the shared responsibility of childcare and challenging traditional gender roles, these policies foster an environment when both men and women can balance their work and family without sacrificing career advancement. We offer an industry leading 26-week paid parental leave for all parents, regardless of gender or sexuality, creating an environment where both men and women can invest in their health and their family's well-being without compromising their career progression. Furthermore, our four-week paid leave for employees caring for critically ill family members underscores our dedication to supporting employees through various life stages, further promoting a culture of inclusivity and equity in our workplace.

What strategies can be used to retain women employees and support their career growth?

Retaining women employees and supporting their career growth is crucial for creating a diverse and inclusive workforce. This requires a multi-faceted approach that includes creating an environment where women feel valued, supported and see opportunities for advancement. We offer flexible work arrangements and progressive policies and benefits, such as extended maternity leave and no sublimit on maternity expenses. Furthermore, professional development and leadership opportunities are provided through mentorship programmes and leadership training.

We have established dedicated ERGs that focus on promoting gender balance, leadership development, and increasing women’s representation at all levels of the organisation. Additionally, we have implemented women-focused wellness programmes to enhance retention and support. These programme can include company-sponsored health screenings or initiatives focused on specific health issues prevalent among women, demonstrating a commitment to the overall well-being of women employees.