FII 2024: inclusive policies, flexible work rules spur gender diversity, Saudi summit told
Speakers at HERizon Summit in Riyadh included HSBC ex-CEO Noel Quinn, former HKEX chairman Laura Cha
Today, the kingdom’s workforce is 36 per cent female, almost double the 2016 participation rate, according to Saudi government statistics. The progress in diversity surpassed the target by six years, based on the Vision 2030 initiative, which was promulgated to diversify its oil-dependent economy by introducing more innovative and green-oriented technologies.
Quinn left HSBC in September. He said by the time of his departure, nearly a third of the bank’s Saudi Arabia-based staff were women, up from the old days when there were just scores of female employees.
Globally, the bank’s ranks are 52 per cent female and a third of its senior managers are women, according to HSBC’s website. Quinn said two decades ago, women made up about 20 per cent of its senior executives.
“What created that change was creating an environment for people to be represented and to have opportunities,” he said during a panel discussion in Riyadh.
