Millicent Clarke discusses how her company builds a culture of inclusivity and the programs the company has launched to support women.
Chapter: Attracting female talent
About: Millicent Clarke has had a distinguished career over the past 33 years, working in a variety of HR roles. She has a wealth of experience and expertise at both the strategic and operational levels. She earned a master’s degree in business leadership from the University of South Africa and has participated in various leadership programs in South Africa and internationally at INSEAD (France), IMD (Switzerland), and SAID Business School (Oxford). Millicent was an independent non-executive director of Maersk South Africa from 2013 to 2022, a non-executive director of Standard Chartered Bank in Zimbabwe, and a shareholder of Legacy Girls College in Ghana.
How have you seen the workplace evolve in terms of gender equality throughout your career journey?
I have been with Standard Chartered for close to a decade now, and in my role as the regional head of HR for the Africa and Middle East, I have seen that the evolution of gender equality in the workplace has been complex and varied, with good progress being made in countries such as the UAE, Saudi Arabia, South Africa, and Kenya in recent years. However, the region still lags its global peers, with challenges such as gender biases and underrepresentation of women in leadership positions across the public and private sectors. This comes at a cost, with close to $575 billion lost yearly in the MENA region due to legal and social barriers that exist for women’s access to jobs.
Women are often over-represented in roles that are traditionally seen as feminine or caregiving roles, such as teaching, nursing, and social work, and are underrepresented in leadership positions and male-dominated fields such as the STEM industries. However, this is changing. More organizations in Africa and the Middle East are building gender equality into their hiring and promotion processes, with women in professional and technical jobs set to more than double by 2030 through digitalization, online platforms, and entrepreneurship.
“Gender equality and balance is crucial for economies and communities to thrive.”
We have set ambitious goals to increase the number of women in leadership positions to 35 percent by 2025 and have launched several initiatives to support women in the workplace over the past few years, such as our Women in Leadership program, which offers mentorship, training, and development opportunities to female employees.
What more do you think could be done to improve gender diversity and produce more female CEOs?
Senior leadership must lead by example in creating a better gender balance within an organization as well as furthering gender-smart solutions to build a more inclusive and fairer workplace. This can be created by implementing policies that support diversity and equity, which means offering all employees the same opportunities while considering their individual needs for specific support or resources and their different circumstances to reach an equal outcome. In fact, research suggests that companies with greater gender diversity are 25 percent more likely to have above-average profitability than their peers. Additionally, ensuring that female talent is provided with the same access to development and leadership opportunities as their male counterparts is vital.
“Organizations must focus on fostering an inclusive culture in which all employees are empowered and supported to reach their full potential.”
Identifying, developing, coaching, mentoring, and sponsoring high-potential women early in their careers who could go on to be CEOs will go a long way toward closing the male-to-female CEO gap. Although gender equality and combatting entrenched biases in the workplace has seen significant progress, particularly in our region, there is still much work to be done to continue to foster real change. At Standard Chartered, we have been at the forefront of promoting women into CEO roles as we understand the value of gender diversity and inclusion in bringing new and diverse perspectives, and ultimately commercial success.
What should employers communicate in their brand to attract top female talent?
As an employer, communicating your commitment to creating a diverse and inclusive work environment is crucial. Companies must create a culture that is free from bias, encourages conversations, and fosters a collaborative spirit—an environment where women can thrive and are valued and respected as equal contributors.
According to a PwC report, 85 percent of women, especially Millennials, believe an employer’s policy on diversity, equality, and workforce inclusion is an important driver in choosing to join an organization. At Standard Chartered, we have been working to build a culture of inclusivity, which is reflected in our policies and practices. For instance, our parental leave policies are gender-neutral, and we offer flexible working arrangements to help employees balance their work and personal commitments. We also provide leadership development programs to help female employees advance their careers. Additionally, we often partner with external organizations to support women’s career development.
How important is it that an organization conveys a calling and purpose during these uncertain times?
The past few years have been marred by a global pandemic, continuing geopolitical tensions, and macroeconomic volatilities. However, as the adage goes, “change is the only constant.” Holding fast to your purpose, ensuring it is built into every facet of the business, and most importantly, regularly communicating this to your employees is imperative, especially during times of uncertainty.
Furthermore, organizations must re-evaluate their employee experience with a refreshed lens and assess its employee value proposition (EVP) to ensure that it meets and communicates the business’ value to today’s diverse workforce.
Matching or exceeding people’s expectations and creating a compelling EVP play a vital role in attracting and retaining talent, accelerating business performance, and creating an engaged workforce.
At Standard Chartered Bank, our purpose is to drive commerce and prosperity through our unique diversity, and this is relevant now more than ever. By staying true to our purpose, we help our employees feel connected and engaged, especially during challenging times. We are committed to helping our clients navigate these challenging times while also supporting our employees and positively impacting the communities in which we operate.
What kind of support can organizations provide for female talent to achieve their career goals?
Organizations must provide a range of support mechanisms, including mentoring and sponsorship programs, leadership development programs, and flexible working arrangements. Furthermore, organizations need to invest in building a diverse talent pipeline by creating tailored learning programs that support women in their career journey as well as empowering female entrepreneurs through new business models and partnerships.
At Standard Chartered, we are proud of several initiatives that support our female talent, including our Women in Leadership program, which offers mentoring and sponsorship to provide our female employees with access to senior leaders who can offer guidance and support. We also support the wider ecosystem with our Women in Tech program, which provides opportunities for women to develop entrepreneurial and leadership excellence in the field of technology. Through this, we have supported female-led start-ups across 10 markets—eight of which are in the AME region, including Kenya, Ghana, Nigeria, UAE, Saudi Arabia, Bahrain, and Pakistan. By providing these types of support mechanisms, companies can help women realize their full potential and achieve their ambitions.
Request a free copy of the Empowering Women: A Collection of Thoughts from Women Leaders to Advance the Workplace.
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