Driving Sustainable Growth through Diversity and Inclusion: Insights from the B20/IOE/SHRM Conference

Key takeaways from this important gathering of senior leaders from business, government and international organisations.

IOE was pleased to take part in the G20 India event yesterday hosted by the Consulate General of India, B20 India – CII, in partnership with IOE, SHRM, NMSDC on the margins of the High-Level Political Forum in New York. On the agenda was a lively dialogue on Diversity and Inclusion for Sustainable Growth.

IOE Deputy Secretary-General Jérôme Bellion-Jourdan moderated a high-level panel that focused on the business case for gender diversity and praised the Consul General of India and B-20 India for convening such as timely discussion. C-suite executives and leading UN officials took part in the discussion including Shinta Kamdani, One Global Women Empowerment Co-Chair, B20 Indonesia and Chief Executive Officer, Sintesa Group; Lida Preyma, Director Capital Markets Strategy & Client Insights, BMO Capital Markets; Lara Blanco, Deputy Director, Sustainable Development Unit, Executive Office of the Secretary-General, United Nations;  Alessandra Del Debbio, Corporate Affairs Vice-President, Microsoft Brasil; and Douglas Opio, Executive Director Federation of Uganda Employers.

The IOE Deputy Secretary-General, throughout the session, stressed the need for a mindset shift at the societal level to progress toward inclusion, gender diversity, and equality in the workplace. Not only in business but also in international organisations and governments, much more needs to be done to ensure that women reach leadership positions.

Panellists mentioned numerous studies and evidence that highlight the positive impact of gender diversity in the workplace. Companies with women executives were shown to have higher innovation intensity and produce more patents. Diverse workforces were also found to enhance customer loyalty and brand strength. All participants emphasised that gender equality and diversity can lead to improved productivity and innovation.

IOE Permanent Representative to the United Nations in New York Shea Gopaul delivered a keynote address expressing the organisation’s commitment to promoting gender equality and diversity building on the efforts of its 150 Employer and Business Member Organisations, representing together some 50 million enterprises. She spotlighted IOE’s lead role in initiatives like the One Global Women Empowerment (OGWE) platform, where IOE is the international Secretariat. This global platform was initiated under the B20 Indonesia and now co-Chaired by both B20 Indonesia and B20 India. It aims to provide technical expertise and advice to women entrepreneurs and women in the private sector. Ms Gopaul concluded her remarks by emphasising the importance of public-private cooperation and collective action in achieving gender equality.

Separately, the IOE Deputy Secretary-General expressed the hope that Brazil B20 would carry on with OGWE and turned to potential donors who could support the OGWE Secretariat moving forward.

Other issues discussed were the challenges women entrepreneurs face, from accessing capital and networks to knowledge gaps and gender biases. Issues around the barriers to implementing gender equality policies were detailed by all participants, including societal mindsets, lack of access to finance and venture capital, and limited access to incentives and business networks. The importance of government support in promoting gender diversity was highlighted.

The Conference concluded with speakers and panellists explaining how biases, outdated HR policies, and workplace environments can hinder progress toward a more gender-diverse workforce. Creating an inclusive environment, addressing biases (conscious and unconscious), and updating HR policies were seen as crucial steps to facilitate progress. Collaboration between G20 and B20 was identified as essential in paving the way for an inclusive workforce.

All participants agreed that there needs to be a shift from talking about gender equality to taking action to make it happen by implementing policy recommendations and effective human resources practices.