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Standard � h�вFрΡ�rQ �'�� wок�овликсггоиа С 1 1 а 1`G 1 G д Creating Markets, Creating Opportunities г ABOUT IFC IFC a sister organization ofthe World Bank and member ofthe World Bank Group---Js the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas ofthe world. In fiscal year 2018, we delivered more than $23 billion in long-term financing for developing countries, leveraging the power ofthe private sector to end extreme poverty and boost shared prosperity. For more information, visit ABOUT IFCS WOMEN IN WORK PROGRAM IN SRI LANKA The I FC-led Women in Work (WW) Program, a four year program valued at US$11.Smn and funded bythe Australian Government, launched in April 2017 It is I FCs largest, standalone country based gender program, working with private sector companies to close gender gaps while improving business performance. The program, which benefits from mu Itsector program design and works closely with the World Bank on research, tackles women's access to jobs and assets at the same time. It aims to increase women's work-force participation in Sri Lanka's private sector, create more and betterjobs for women, and has the potential to increase company profits and drive overall economic growth. WW also contributes to the vision ofthe Government of Sri Lanka where all citizens can achieve higher incomes and better standards of living by202S Access to quality chilocare services is a key constraint on women's labor force participation. Following I FCs global Tackling Childcare initiative, this report highlights Sri Lanka-specific data, experiences and resources on employer-supported childcare and may not only be relevant to individual businesses but can also serve as a resource for special economic zones, Information Technology (IT) parks and other consortium models. This case study is one of10 featured in the report "Tackling Childcare: The Business Case for Employer-supported Childcare in Sri Lanka", available at COPYRIGHT AND DISCLAIMER NOTICE V International Finance Corporation 2018. All rights reserved. 2121 Pennsylvania Avenue, N.W. Washington, D.C. 20433 USA Internet The material in this work is copyrighted. Copying and/or transmitting portions or a I I ofthis work without permission maybe a violation ofapplicable law. 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The findings, interpretations, and conclusions expressed in this volume do not necessarily reflect the views ofthe Executive Directors ofthe World Bank Group or the governments they represent. The contents ofthis work are intended for general informational purposes only and are not intended to constitute legal, secu rities, or investment advice, an opinion regarding the appropriateness of any investment, or a solicitation of any type. I FC or its affiliates may have an investment in, provide other advice or serVces to, or otherwise have a financia I interest in, certain ofthe companies and parties (incl uding named herein). All other queries on rights and licenses, including subsidiary rights, should be addressed to I FC Communications, 2121 Pennsylvania Avenue, NW, Washington, D.C. 20433, USA. International Finance Corporation is an international organization established byArticles ofAgreement among its member countries, and a member ofthe World Bank C roup. All names, logos and trademarks are the property of I FC and you may not use any of'such materials for any purpose Without the express written consent of I FC. Additional ly, "I Internationa I Finance Corporation" and "I FC" are registered trademarks of I FC and are protected under internationa I law. December2018 Standard On a Journey to Increase Gender Parity in the Workplace Chartered For Standard Chartered Bank (SC), a member of IFC's SheWorks partnership in Sri Lanka, providing childcare support and measures to improve employee work-life balance is part of SC's broader corporate objectives of Employee Profile: increasing gender parity in the workplace. Childcare * 48 percent of SC's workforce are women support is weaved into their strategy through the * 54 percent of the Country Leadership Team are Diversity and Inclusion agenda and commitment to women retain, develop and promote talent, irrespective of * Over 43 percent of the recruitments in 2018 were gender or parental status. Having childcare support is women also a way of letting women know that one can * Over 40 percent of the bank's promotions in continue their banking career whilst celebrating the 2018 were women life-event of being a mother. Currently, 48 percent of SC's entire workforce in Sri Lanka are women. SC also The Bank supports working parents through: takes pride in reporting 54 percent participation of women in its Country Leadership Team and almost 30 * 'Kidkare' which caters to approximately 30 percent representation of women in the Country children, from 6 months toll years old Management Team. These are positive results that SC * 20 weeks of paid maternity leave has achieved whilst being an equal opportunity employer * Two calendar weeks of paternity and adoption and placing emphasis on promoting and developing leave women in leadership roles. * Flexible working arrangements * Medical insurance coverage of children In 2008, SC introduced a creche facility'Kidkare'to all its employees and was one of the pioneers in the industry. Key business impacts of offering childcare The facility is located in the heart of Colombo and support: currently accommodates up to 30 children from the age * Supporting retention of new mothers of 6 months to11 years. 'Kidkare' operates with an * Creating a "Great Place to Work" external childcare provider and supports the business * Branding as an "Employer of Choice" working hours from Monday to Friday from 7:30 a.m. to * Important building b ock for the Bank's gender 6:00 p.m. The facility provides adequate care in terms diversity strategy of hygiene, preparation of home cooked meals and security during operational hours. The food menu is prepared by the creche supervisor in consultation with a nutritionist to provide healthy and balanced meals for children. Both children and employees of'Kidkare' are also covered by a medical insurance scheme provided by SC.'Kidkare' offers early childhood education and quality care under the supervision of a qualified Montessori teacher. Once the children come after school they are supported in completing their homework. Special events are organized by the cr6che during the holiday months with outings and excursions for the children. Initially, the employer-supported creche was received by its employees with some caution, as it was a cultural shift for parents to trust the concept of a childcare facility in comparison to grandparents and nannies taking care of the child. Following the success of SC Sri Lanka's initiative, several other SC locations globally have followed and established their own cr6che facilities using the lessons-learned from SC Sri Lanka. 02 SC meets two thirds of the crbche's operational costs whilst More recently Standard Chartered Bank Sri Lanka the parents pay a monthly nominal fee. The investment is enhanced its existing policy on maternity leave to offer justified with SC's maternity return rate at 100 percent 20 calendar weeks of maternity leave, exceeding the and parents claiming they are at ease and can better legal requirement of 84 working days whilst fathers concentrate during work knowing that their children enjoy paternity leave of up to two calendar weeks. are well taken care of. SC takes pride in a zero percent Parents who chose to adopt are also eligible to avail attrition of mother's resigning to care for their children. themselves of two calendar weeks adoption leave. This is predominantly due to the cr6che facility, flexible SC provides nursing intervals in line with the labor working arrangements and other enhanced benefits law requirements. In addition, SC offers "flexible working" offered to parents. SC claims that one of their key to support employees to meet the demands of their successes of the 'Kidkare' functioning seamlessly is their personal lives, without impacting their careers. creche supervisor and her ability to manage the bank's Further, SC launched its first Women's Network protocol, parents and their children. "W3: Women Win @ Work" in 2016. This initiative promotes networking, professional and personal deve opment of women in the bank. 1 IFC. 2017. Government of Austra ia Partner to Support More and Better Jobs for Women in Sri Lanka. 2 Office of the Prime Minister. 2017. vision 2025. A Country Enriched. See page 26. 03 The DFAT -FC Women in Work program Sri Lanka, in partnership with leading private ý IM FCsector companies, aims to demonstrate that corporate performance can improve from Creating Markets, Creting Opportunities closing gaps between women and men in the private sector.