SLID partners IFC for workshop to promote gender diversity on boards

A diverse board makes smart business sense; it has been shown to have a measurable impact on businesses’ financial performance. Why then would businesses in Sri Lanka (a country known for its female leaders) not take measures to facilitate their own success? The Sri Lanka Institute of Directors (SLID), and IFC, a member of the World Bank Group, aim to change the dynamic, and shed light on how businesses must grow past the glass ceiling to boost profits. 

To this end, a workshop on gender diversity on boards, ‘Breaking the Impasse’ will take place from 9 a.m. to 4 p.m. on 8 June at the Galadari Hotel.

Improving an organisation’s diversity is not a simple task, but it is a worthwhile one. Balanced representation on a board is considered effective for a number of reasons, including:

Constructive decision-making and innovation require the ability to hear and consider different points of view, and board members who have different backgrounds, experiences and perspectives contribute immensely to this process. 

Companies with a diverse board send a clear message that they value diversity of thought and experience. In leading by example, they set the tone and encourage the sharing of ideas and initiatives throughout their organisation. This enables companies to reach full potential, and also contribute towards the economic, social, cultural and political environment by sparking change.

Bringing about diversity in leadership positions requires change in the very heart of organisation. Culture does not change overnight, either in a company or a country, so a conscious and consistent commitment is necessary. Additionally, women entering the current environment must be equipped to effectively deal with the obstacles that present themselves, while contributing to the foundation of permanent change.

Improved board dynamics, strategic decision-making and stable performance are the effect of working together regardless of gender or mind-set. 

Breaking the Impasse

The trainers at the workshop will address the mind-set shift needed to foster gender equity; guidelines to achieving a diversity balance; thetraits and special skills to be developed bypotential board members; and how reintegration can be achieved after absence due to family issues. 

A panel discussion will also be held for a focused evaluation of the Sri Lankan context, with veteran board members relating their experiences and deliberating on strategies for improvement.

The resource persons facilitating the session bring to the table extensive experience in a variety of areas, and will present varied perspectives that form a cohesive picture of the challenges and opportunities in this transformation.

Facilitators

Poonam Barua is an accomplished business leader, Economist, Independent Board Director, CEO of WILL Forum India, and Founder Chairman of the ‘Forum for Women in Leadership’ in New Delhi. She is the Author of the pioneering book ‘Leadership by Proxy: The Story of Women in Corporate India’ and best-selling research reports. She Chairs the ‘WILL Women on Corporate Boards: Series’ that is mentoring a robust pipeline of women executives and certifying 500 ‘board capable and board informed’ ​women executives for corporate board positions. Barua has also lead the annual ‘WILL Forum India-USA Conference’​ on women in leadership in New York, most recently hosted by KPMG, BlackRock, Thomson Reuters, and Merck.

Lopa Rahman is a Corporate Governance Officer at IFC and leads Corporate Governance Advisory Projects for South Asia, with specific activities in India, Bangladesh, Bhutan, Nepal and Sri Lanka. In addition to providing Corporate Governance Assessments for advisory clients, she provides critical support to Investment Officers in drafting Corporate Governance Review reports and risk assessments for investment transactions. In South Asia, she has provided Corporate Governance Advisory Services to family owned businesses, SMEs, women entrepreneurs, and financial institutions; conducting board training, CG Assessments and Family governance consultation

Boris Janjalia is a Corporate Governance Officer who has worked with IFC since 2007. He has extensive experience in working with the private sector and regulators on promoting and implementing good corporate governance practices in Europe, Central Asia and Africa. Before joining IFC, Boris worked as Head of the Legal department at Financial Monitoring Service of the National Bank of Georgia.