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HSBC India rewards recruitment of women - Aug 2008
34.5 per cent of HSBC staff in India are women, and the bank wants to increase this by two percent
HSBC India is rewarding recruitment consultants to hire more women as part of its new diversity strategy.
The bank will offer financial incentives for sourcing female candidates at senior and middle management levels. And expectations regarding gender diversity will be built into its contracts with recruitment consultants.
Of over 10,200 HSBC staff in India, 34.5 per cent are women. The bank wants to increase this by two percentage points.
It also wants 10 per cent of staff to be working flexibly by the end of the year. The right to request flexible working has been introduced for all members of staff.
“There is a huge war for talent and we are trying to break with traditional stereotypes and tap into talent pools we might otherwise not have had access to,” Tanuj Kapilashrami, head of HR, told PM.
A diversity committee made up of 68 volunteers from across the business, 11 of whom are in the top team, are to draft a business case for diversity and set targets for a more diverse workforce.
HSBC India also wants to tackle discrimination against underprivileged people in India, and will be providing scholarships to 10 underprivileged students across the country.
“The big change for us is that diversity is to be a source of differentiation for HSBC in the marketplace,” Kapilashrami said. “As the ‘world’s local bank’, it’s important for us to have a workforce that reflects the diversity of our customer base.”
Anjana Nathwani, director of knowledge and practice at Schneider~Ross, a consultancy working with HSBC India, said: “Clearly, in a country where family and cultural norms can still play a significant role in holding back the progress of women, the bank is pleased with the progress it has made but recognises that much more needs to be done.”
Schneider Ross will be running a leadership workshop with the senior management team, which will give each leader one or two diversity goals to work with.
Article first appeared in People Management magazine on 7th August 2008.
Article written by Anna Scott
HSBC India is rewarding recruitment consultants to hire more women as part of its new diversity strategy.
The bank will offer financial incentives for sourcing female candidates at senior and middle management levels. And expectations regarding gender diversity will be built into its contracts with recruitment consultants.
Of over 10,200 HSBC staff in India, 34.5 per cent are women. The bank wants to increase this by two percentage points.
It also wants 10 per cent of staff to be working flexibly by the end of the year. The right to request flexible working has been introduced for all members of staff.
“There is a huge war for talent and we are trying to break with traditional stereotypes and tap into talent pools we might otherwise not have had access to,” Tanuj Kapilashrami, head of HR, told PM.
A diversity committee made up of 68 volunteers from across the business, 11 of whom are in the top team, are to draft a business case for diversity and set targets for a more diverse workforce.
HSBC India also wants to tackle discrimination against underprivileged people in India, and will be providing scholarships to 10 underprivileged students across the country.
“The big change for us is that diversity is to be a source of differentiation for HSBC in the marketplace,” Kapilashrami said. “As the ‘world’s local bank’, it’s important for us to have a workforce that reflects the diversity of our customer base.”
Anjana Nathwani, director of knowledge and practice at Schneider~Ross, a consultancy working with HSBC India, said: “Clearly, in a country where family and cultural norms can still play a significant role in holding back the progress of women, the bank is pleased with the progress it has made but recognises that much more needs to be done.”
Schneider Ross will be running a leadership workshop with the senior management team, which will give each leader one or two diversity goals to work with.
Article first appeared in People Management magazine on 7th August 2008.
Article written by Anna Scott