GDIB AWARDS PAKISTAN

Global Diversity & Inclusion Benchmarks Standards

The Global Diversity & Inclusion Benchmarks "GDIB" is a booklet introduced by The Center for Global Inclusion. Written by 95 Expert Panelists from all over the world, and co-authors Julie O'Mara and Alan Ritcher, it is free of cost and downloadable by submitting the Permission Agreement. The purpose of the GDIB is to set standards of inclusion and diversity for organizations globally and to educate them on how to implement these standards. The benchmarks also allow organizations to set goals and aspirations for a higher quality of workplace environment as well as a better society as a whole. Organizations can then develop strategies while monitoring the progress towards their goal of advancing diversity and furthering inclusion. The GDIB further comes with User Tools that provide help in analyzing and understanding its contents, which in turn makes the implementation of GDIB standards even more effortless. The GDIB standards encompass 14 categories that instruct companies on what the best practices are in terms of developing diversity and inclusion.

GDIB Awards

HR Metrics introduced the Global Diversity & Inclusion "GDIB" Standards to the organizations present in Pakistan. Diversity Hub-HR Metrics also organized GDIB Awards 2020. The significance of this lies in the fact that more corporations now strive to implement the diversity and inclusions standards and to achieve the benchmarks. The recognition gained due to GDIB awards also serves as an added motivation to meet the benchmarks since the organizations enhance their reputation as an employer. The importance of these awards set on the 14 categories present in the GDIB booklet act as a stimulant for a positive change in the corporate sector. The 14 categories of, Vision Leadership, Structure, Recruitment & Development, Benefits, Compensation, Learning, Assessments, Communications, Sustainability, Products & Services, Supplier Diversity, Marketing and Social Responsibility encompass all major organizational processes and policies. The organizations implementing the best D&I (Diversity and Inclusion) practices in these respective categories receive awards for their achievements. This recognition demonstrates the organizations' efforts to create a progressive culture based on inclusive processes and diverse policies to aid in the sustainable growth of the company as well as society. Repeatedly it has been proven that the path to sustainable growth in terms of both financial and social practices lies in the adoption of D&I initiatives.

Benefit of Diversity & Inclusion

The unique benefits that organizations receive from the implementation of GDIB standards can be observed in long-term success and enhanced reputation. This is because the organizations learn to cultivate diverse and thus highly skilled teams, inspiring leaders who uphold progressive ideals and an overall superior workplace environment.

The GDIB awards actively help the organization grow by enabling the participating organizations to align their D&I initiatives with sustainability efforts. As a result, the organization by following the GDIB Standards can strengthen both the D&I initiative and the sustainability initiatives, resulting in efficient use of resources and the ability to accomplish goals. Moreover, according to a 2015 research done by McKinsey & Company, a positive correlation exists between diversity and organizational performance. The organizations that had the highest gender diversity on their executive teams had 21% more probability to exceed profitability goals of other organizations and 27% more probable to have improved value creation. Organizations who had the highest cultural/ethnic diversity on executive teams were 33% more probable to have industry-leading profitability. This proves the bold change encouraged by the GDIB Awards not only benefits organization but also contributes to their long-term growth and advancement.

D&I Focus Areas

The categories in which companies received the highest number of awards in 2020 were vision, benefits, structure and leadership, respectively. The latter two also being the categories that observed the highest growth rate. This signifies the positive reform in the corporate sector and the adaptation of improved ideals.

The categories in which companies secured the lowest number of awards were Marketing, Assessments, Supplier Diversity, Sustainability and Products & Services. Marketing also being the category with the lowest growth rate. These statistics call attention to areas in which our corporate sector is lacking. However, the acknowledgement of this allows companies to make reforms and strive harder for next year in achieving the goals set by GDIB in these categories. It is incredibly important for organizations not to only focus on the areas where they already excel but also to become better rounded by improving their policies in the other areas highlighted. Eventually, this will benefit the organizations themselves and will allow for effective use of resources and the ability to achieve their goals.

In the 2020 GDIB awards, a five-member jury panel reviewed award submissions and announced 19 organizations as winners. These organizations include Engro Fertilizers Limited, Pakistan Poverty Alleviation Fund, Metro Cash and Carry, Pakistan Tobacco Company, The First Microfinance Bank, Abacus Consulting Technology Pvt Ltd, Standard Chartered Bank Pakistan Limited, Nestle Pakistan, Pakistan Petroleum Limited, Engro Energy Limited, PepsiCo Pakistan, Bank Alfalah, Telenor Pakistan, Habib Metropolitan Bank, British Council Pakistan, Khaadi SMC Pvt Ltd, KFC Pakistan, HBL and AGP Limited. Engro Fertilizers was recognized with the highest number of awards at the event.

Consequently, the GDIB award results also aid prospective employees in making informed decisions when applying to companies since it indicates the type of workplace environment present in an organization. A hiring process based on the GDIB ideals also ensures that a vast scope of backgrounds is available in a company, which in turn fosters creative and innovative ideas and problem-solving capabilities in the employees.

GDIB Growth in Pakistan

Hence, the awards provide significant insights for the entities that exist outside of the company to form evaluations and judgements. The winning organizations also become a form of inspiration for other companies to achieve the same kind of goals and success.

In conclusion, the GDIB awards not only succeed in appreciating the commitment of companies in meeting the set benchmarks but also motivates to continue their missions further while inspiring others to follow the example set by these organizations.

Bibliography:

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Desk, News. “Nestlé Pakistan Recognized as Diversity and Inclusion Front-Runner!” Global Village Space, 7 Mar. 2020, https://www.globalvillagespace.com/nestle-pakistan-recognized-as-diversity-and-inclusion-front-runner/.

“Engro Bags the Highest Number of Global Diversity and Inclusion Benchmark (GDIB) Awards 2020.” Engro Corporation, https://www.engro.com/press-releases/engro-bags-the-highest-number-of-global-diversity-and-inclusion-benchmark-gdib-awards-2020/. Accessed 16 June 2020.

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Page. “19 Companies Emerge as Inclusive Companies in 2019 in Pakistan - Page.” QOSHE, https://qoshe.com/pakistan-gulf-economist-pk_en/page/19-companies-emerge-as-inclusive-companies-in-2019-in-pakistan/60789206. Accessed 16 June 2020.

“PPAF Wins Prestigious Global Diversity and Inclusion Benchmarks Award.” The Nation, 11 Jan. 2020, https://nation.com.pk/11-Jan-2020/ppaf-wins-prestigious-global-diversity-and-inclusion-benchmarks-award.

Report, BR Web Desk |. Recorder. “19 Organisations from Pakistan Get GDIB Awards.” Brecorder, 1 Jan. 2020, http://www.brecorder.com/news/557942.

GDIB User Organizations in Paksitan

Number of Organizations

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