The bank’s liquidity profile remains strong as evidenced by an advances to stable resources ratio of 76% and an eligible liquid asset ratio of 16%, both comfortably above regulatory thresholds
“Our pride stems from the fact that we are a country where everyone thrives equally regardless of their differences,” said His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
In Sheikh Mohammad’s quote, it is evident that the UAE has a culturally diverse population, and is the second highest ranking region in the Middle East and Africa for gender equality.
For a business to be successful, this needs to be embedded in the culture of the organisation. In this day and age, diversity and inclusivity in the workplace are important factors in developing a positive and productive work environment.
Diversity is often considered the more straightforward of the two – it’s easy to track how diverse your recruitment and promotion is. Inclusion is a much broader term and impacts job satisfaction.
In a world where remote working removes geographical barriers for job seekers, organisations who do not clearly demonstrate their commitment to a fair and equal workplace may struggle to recruit and retain staff.
According to Deloitte’s 2023 Middle East paper, The Case for Diversity and Inclusion, nearly two in five Gen Zs/millennials say they have rejected a job and/or assignment based on their own personal ethical beliefs.
Diversity and inclusion (D&I) are more complex now than they were five years ago. Post pandemic, the new group of graduates expect more from an employer than traditional initiatives around religion, gender, and race.
In 2024, inclusion might include things like health and wellbeing initiatives, access to learning, opportunities for personal growth, flexibility over hours and location of work, space for personal campaign, volunteering opportunities and more.
Correlation between job satisfaction and productivity is well documented. Slack’s 2023 global survey, The State of Work in 2023, found that 82 per cent of the 18,000 desk workers surveyed believe feeling happy and engaged at work is a key driver of their productivity. Slack notes that those who reported feeling more productive today than before the pandemic understand how their roles fit into the company’s mission at large.
In 2024, employees want a fair and just recruitment and promotion process, but they also want to thrive in their role and feel their values align with those of their employer.
Leadership commitment to diversity and inclusion is essential to ensuring every branch of the organisation operates against the same set of values; it is key to the development and growth of a business.
A diverse work system can absorb all talents and abilities and employ them in the right place. A business that creates a culture of inclusion and diversity within is likely to be more effective at serving a diverse range of customers.
Achieving this is complex and requires work. Leaders might assume their personal values are held throughout the company, but without action to ensure this, they probably aren’t.
Purpose-led organizations are reaping the benefits of a contented workforce. Effective leadership and organisational culture can transform a business, attracting and retaining talent, boosting innovation, increasing productivity, and driving the economy.
Mohammad Almutawa is Group CEO of Ducab. Views expressed are his own and do not reflect the newspaper’s policy.
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