IN A rapidly globalising world, diversity and inclusiveness within an organisation is no longer a nice-to-have, but rather a business imperative. Companies that embrace diversity and nurture inclusive work environments are getting an edge over the competition.

At this year’s Sias Investors’ Choice Awards, companies were recognised in the diversity category of the Singapore Corporate Governance Award for demonstrating their commitment to board diversity. Three of these companies are leading the way when it comes to promoting diversity and inclusion not just at the board level, but across their organisations.

CapitaLand Investment: Embracing board diversity

Direction from the top is critical when it comes to driving diversity across businesses. CapitaLand Investment’s (CLI) board diversity policy reflects its commitment to ensuring that its board has a blend of varied skills, experiences and perspectives, which is essential for sound decision-making.

The company’s structured approach towards board composition encompasses a range of diversity facets, including gender, age, tenure, skills, and geographical background. 

CLI has already achieved its goal of having at least two female directors on its board by 2023. The board is also composed of members of different age groups and varied tenures, ensuring a progressive and orderly board renewal while maintaining knowledge continuity. It also boasts a diverse range of skills and competencies, with directors possessing substantial expertise in fields such as finance, real estate, investment management and technology.

“CLI values the benefits that diversity can bring to the board in its deliberations by avoiding groupthink and fostering constructive debate,” said Miguel Ko, chairman and non-executive, non-independent director of CLI. “Diversity enhances the board’s decision-making capability and ensures that the company has the opportunity to benefit from all available talent and perspectives, which is essential to effective business governance and for ensuring long-term sustainable growth.”

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CLI’s road to achieving board diversity is marked by meticulous planning and assessment, spearheaded by its nominating committee (NC). The NC is entrusted with the task of reviewing the board’s composition annually, identifying competencies that can be bolstered, and planning ahead for potential vacancies. The committee meets two to four times a year to assess the progress and identify opportunities to enhance diversity further. 

Said Ko: “The CLI board is dedicated to more than just meeting its diversity targets. It recognises that building and sustaining a diverse board is an ongoing journey. The board is committed to continuing its efforts to identify opportunities for enhancement in all aspects of its stewardship.”

Singtel: Leveraging different perspectives

Singtel’s journey towards a more inclusive workspace is rooted in a firm belief that diversity is crucial for sustaining a competitive edge. The telco’s approach is holistic, encompassing a range of diversity, equity, and inclusion (DEI) initiatives aimed at not only promoting a fair and respectful work environment, but also extending these values to the communities they serve.

Aileen Tan, group chief people and sustainability officer at Singtel, said: “This speaks to our company’s purpose to empower every generation, including empowering each other as colleagues, as we are able to draw upon diverse perspectives, skills and experiences to better execute strategies and forge stronger connections with our customers and communities. This is especially important for a global company like ours.”

One notable undertaking is the Empower NextGen Women in Stem symposiums, which are aimed at inspiring and supporting women pursuing careers in science, technology, engineering, and mathematics. Singtel has also established initiatives such as the Women in Networks and Early Professionals Group, offering platforms for employees to share experiences and provide mutual support.

Singtel measures the impact of its DEI efforts through various metrics. In terms of gender representation, women constitute 31 per cent of the management roles at Singtel. The group has also set an industry-leading example with women making up 40 per cent of its board of directors and 44 per cent of its management committee.

Furthermore, its inclusion in the Bloomberg Gender-Equality Index for the fifth consecutive year in 2023 – one of just six Singaporean companies in the index – underscores the effectiveness and recognition of its DEI initiatives.

Looking ahead, Tan said DEI is an ongoing journey that involves continuous long-term effort, learning and refinement. “Implementing DEI initiatives that cater to the needs of a diverse workforce is difficult since we have learnt that there’s no one-size-fits-all strategy,” she said.

“To address this, Singtel’s DEI programmes are customised to consider the specific needs and circumstances of various groups within our workforce.”

ComfortDelGro: Fuelling change in the transport sector

For leading land transport company ComfortDelGro Corporation, the challenges of promoting diversity stem from entrenched perceptions about the industry. To address this, the company has adopted various strategies across its operations to attract a more diverse workforce.

In Australia, the Driven Women programme was launched to dispel misconceptions among women about working in the transport sector, showcasing the wide range of roles available. Meanwhile, in Singapore, ComfortDelGro’s subsidiary SBS Transit has rolled out a new “3E” framework – employ, educate, and empower – that focuses on creating an inclusive workspace and employing persons with disabilities (PWDs). 

“This framework aims to create an inclusive workplace and employ PWDs in different roles through a phased approach,” said Michael Goh, group chief human resource officer at ComfortDelGro. SBS Transit has hired 26 PWDs in Singapore over the past two years, all of whom remain employed. 

In addition, ComfortDelGro requires mandatory DEI policy awareness training for all employees. Goh adds: “This training provides a foundation in DEI and covers topics such as the importance of creating a respectful and inclusive workplace.”