The Power of Inclusion: Alpa Pandya’s Vision for Sustainable Growth

At the recent 2024 FUNDEMAS Sustainability Week, Bpeace board member Alpa Pandya took the stage to deliver a powerful message on the importance of inclusion as a growth catalyst.

Sustainability has often been associated primarily with environmental conservation. Alpa expanded this definition by stressing the importance of human resources in the sustainability conversation. “Sustainability isn’t just about natural resources—it’s also about our human resources and how we use them to grow our businesses in a way that benefits everyone,” she explained.

This approach requires a mindset shift, where companies prioritize fair and inclusive practices for hiring, promotion, and development. By focusing on people as part of the sustainability equation, businesses ensure they’re contributing positively to both their immediate and broader communities. Her insights highlighted that inclusion is not just a “nice-to-have” but an essential strategy for businesses aiming to thrive sustainably.

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What is Social Inclusion?

Social inclusion is the process of improving the terms on which individuals and groups take part in society—enhancing their ability, opportunity, and dignity, particularly for those disadvantaged based on their identity. For businesses, this means creating workplaces that value diverse backgrounds, encourage equal opportunities, and actively support individuals from all walks of life.

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Why Inclusion is No Longer Optional

Inclusion has shifted from an optional value to a business imperative. Companies that prioritize inclusive practices are better positioned to build sustainable growth. “Businesses can no longer afford to view inclusion as just another box to check,” she said. “It’s integral to creating positive community impact and setting up a framework for long-term success.”

By investing in inclusive practices, businesses not only build stronger teams but also contribute to the resilience and stability of the communities they operate in, establishing a sustainable model that benefits all stakeholders.

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The Business Case for Workplace Inclusion Unleashing Untapped Potential

Inclusive workplaces deliver significant benefits such as enhanced innovation, improved decision-making, and increased employee engagement. Diverse teams foster creative solutions through varied perspectives, strengthening brand image and attracting top talent. By implementing inclusive policies, companies can access new talent pools, driving innovation and growth while leveraging their human capital for sustainable development.

Economic Rights and the Global Gender Gap

Economic rights are unevenly distributed worldwide. Approximately 2.4 billion women—32% of the world’s population—lack the same economic rights as men due to barriers like limited access to education, credit, land ownership, legal services, and care services, as well as the digital divide. As Hillary Clinton stated, “Women’s rights are human rights.” The Global Gender Gap represents a shocking waste of talent, leading to substantial losses in potential growth and innovation. Addressing these inequities is a vital step in empowering women and boosting sustainable economic growth.

This Lost Potential Costs Us All

The failure to address these disparities has real, far-reaching impacts:

1. Extreme Poverty: One in every 10 women lives in extreme poverty.
2. Food Insecurity: Over 30% of women are moderately or severely food insecure.
3. Job Insecurity: Nearly 60% of women’s employment globally is in the informal economy, and in low-income countries, it’s over 90%.
4. Limited Entrepreneurship: In 2022, women’s startup activity was only 10.1%, or 80% of the rate of men.
5. Climate Change Risk: More than 40% of the global labor force depends directly on the environment and ecosystems, putting their livelihoods at serious risk as climate challenges grow.

This lost potential not only impacts women but limits overall economic progress. If addressed this disparity, it could add trillions to global GDP and lead to a more resilient global economy.

Labor Force Participation: A Regional Perspective

Central American countries, including El Salvador, Guatemala, and Honduras, have lower labor force participation rates compared to Peru and Paraguay, highlighting a need for greater inclusion. In El Salvador, only 46% of the labor force participates, with Guatemala at 41% and Honduras at 50%, compared to 66% in Peru and 60% in Paraguay. Increasing participation in these regions, especially for women and young people, can catalyze economic transformation.

Moving Forward with Inclusion

Meaningful change doesn’t happen overnight. Implementing inclusive practices and policies should be seen as an incremental journey. Small steps taken consistently over time can lay the foundation for a truly inclusive workplace where all employees have the opportunity to contribute and thrive.

In championing women’s rights, we are advocating for a brighter future for all. As Salma Hayek said, ‘In fighting for women, we fight for the future. Are you ready to embrace the power of “Womenomics” in Central America?

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