Standard Chartered Bank Singapore was awarded the EDGE certification for its ongoing commitment to advancing gender equality.
The bank is the first institution in the city-state to achieve the renowned global business standard.
“We are proud to be the first financial institution in Singapore to be awarded the EDGE Certification,” said Patrick Lee, CEO Singapore at Standard Chartered Bank.
“At Standard Chartered, we promote a strong culture of diversity and inclusion (D&I), reflecting the diversity of our clients and our markets. We remain committed to providing our employees with equal opportunities, working with them to unlock their fullest potential and achieve their ambitions.”
The certification process included input from over 3,000 of the bank’s employees, where they judged on the company’s practices and policies around things like pay equity, recruitment as well as promotion opportunities.
The bank was recognised for global efforts like initiatives aimed at increasing the representation of women in senior management. They currently have 30% female representation on the global board – an increase from 23% in 2016.
The figure will jump to 36% from January 1, 2021, following a recent appointment of a female independent non-executive director.
Internally, they’ve set a target for at least 35% female representation in senior management teams by 2025.
One initiative to support such targets involves unconscious bias training sessions for leaders. This aims to enable equal leadership development opportunities for employees. Globally, over 97.5% of the bank’s managers have completed this training.
Additionally, the bank’s Gender Equality Network (GEN) employee resource group further supports staffers’ professional and personal development, on top of promoting an environment where all genders can thrive and reach their full potential.
GEN regularly raises awareness on gender quality through events on International Men’s and Women’s Day.
It also organises LeanIn circles where employees can support each other through shared experiences and HeforShe, a solidarity campaign aimed at encouraging men to act against negative inequalities. Talks and seminars on topics of gender are also available for employees to attend and apply at work.
“Currently, women make up 45% of our workforce, 35% of the management team and 31% of all senior positions in the bank,” said Lee. “While more can be done to advance the D&I agenda, global recognition like this is testament to the good progress we are making.”