6 IFC WOLD-AKG-U LSECTechnology cBusines Case f r ABOUT IFC IFC-a sister organization of the World Bank and member of the World Bank Group--is the largest global development institution focused on the private sector in emerging markets. We workwith more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018,we delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information,visit i ABOUT IFCS WOMEN IN WORK PROGRAM IN SRI LANKA The IFC-led Women in Work (WiW) Program, a four year program va lued at US$11.Smn and funded bytheAustralian Government, launched in April 2017 It is IFCs 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 tisector 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 workforce 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. WiW a so contributes to the vision of the Government of Sri Lanka where all citizens can achieve higher incomes and better standards of iving by2025.2 Access to quality childcare services is a key constraint on women's labor force participation. Fol lowing I FC's 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 of 10 featured in the report 'Tockling Childcare: The Business Case for Employer-supported Childcare in Sri Lanka", available at .ifordtacklinchiadeare. COPYRIGHT AND DISCLAIMER NOTICE @ International Finance Corporation 2018. All rights reserved. 2121 Pennsylvania Avenue, N.W. Washington, D.C. 20433 USA Internet wforg The material in this work is copyrighted. Copying and/or transmitting portions or all ofthisworkwithout permission maybe a violation of applicable law IFC encourages dissemination of its work and will normally grant permission to reproduce portions of the work promptly, and when the reproduction is for educational and non-commercial purposes, without a fee, subject to such attributions and notices as we may reasonably require. 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All names, logos and trademarks are the property of IFC and you may not use any of such materials for any purpose without the express written consent of IFC.Additional y,"International Finance Corporation" and "IFC" are registered trademarks of IFC and are protected under international law. December2018 LSEG Technology LSEGTechnology On a Journey to Fostering an Inclusive Work Culture Founded in 1996 and headquartered in Colombo, former MillenniumlT now rebranded as LSEG Technology, was acquired by the London Stock Exchange Group (LSEG) in October 2009. Known as one of the largest Employee Profile: technology companies in Sri Lanka, the organization * 23 percent of 550 employees are women (126 employs over 500 professionals of whom over 20 percent women; 423 men) are women. The company's 22-acre campus in Malabe * 20 percent of 11 Senior Management staff are was established in 2008 with state-of the-art facilities, women (2 women; 9 men) including a gym, swimming pool, cr6che, a cricket * 15 percent of 220 Middle Management staff are ground, and a cafe. The vision for this campus facility women (33 women; 187 men) was to recruit and retain the best talent and create an inclusive culture that is different to that of a traditional LSEG Technology supports working parents office setup. LSEG Technology is a member of the through: IFC-led SheWorks Sri Lanka Partnership. * Cr6che support, including during late working LSEG Technology operates in a highly dynamic and hours disruptive work environment and believes a diverse and * 90-day paid maternity leave inclusive workforce will boost financial performance, * 3-day paternity leave innovation and staff motivation. The company is * Extended maternity leave up to 9 months on no determined to practice an inclusive work culture which sa ary basis enables and values the contribution of all employees * Designate lactation room and doctor on call regardless of gender, age, race, disability or sexual * Flexible working hours and work-from-home orientation and to foster an environment where everyone options feels they belong. Key business impacts of offering childcare I "We are on ajourneyto focus more on inclusion support: than diversity, as it is important to create an * High retention of new mothers and parents environment where every employee can voice * Key building block for diversity and inclusion their opinion and feel they belong here. This strategy journey is possible with the support of the line managers as only they can bring out the best in every team member. If we get that right, the The cr6che, which is located at the aforementioned numbers will start speaking." campus premises, can accommodate up to 30 children from 4 months to 12 years of age. Currently it is occupied Bani Chandrasena, Head of Human Resources, by 20 children. There are two types of care: one for LSEG Technology infants aged up to 18 months, and the other is general care which focuses on early childhood development. Providing childcare benefits has been part of the offering The cr6che is managed by one supervisor, two teachers from the inception of the organization, but it became and six nannies. The facility also houses a lactation room, part of the overall LSEG Sri Lanka's formal diversity and play area, sandpit, child-sized amenities, and a doctor inclusion strategy in the last 2 years with a scalable on call. The cr6che fee is subsidized for the parents solution across all the business entities within the employed at LSEG. Those working at other Sri Lanka country. The organization understood that parenthood locations such as in Maradana and Bamabalapitiya are is often a point when companies lose experienced given an option to use this Malabe Cr6che or any of the employees (mostly women) and decided to provide a other CeeBees facilities at the same subsidized rate. creche to increase the balance between work and Among the existing cr6che users, 20 percent are fathers raising a family, a progressive move in the industry at and 80 percent are mothers. the time. Initiallythe cr6che was run by a few nannies until the number of children grew significantly and the "If I did not have access to a cr&che facility, I would company decided to outsource it to a professional give up on a career as I don't have support at third-party vendor, CeeBees Pre-school and Childcare home." Centre, in 2013. Mother of a two-year-old, LSEG Technology 02 Serving in the IT sector can be challenging as a significant number of clients are based across the globe in different time zones which can translate to late night and early morning engagements with clients. The operating hours for the cr6che are from 9:00 a.m. to 6:00 p.m. Accommodating childcare beyond these regular working hours was initially a challenge. However, overtime the crbche staff adapted a healthy routine to cater to this additional requirement by customized requests made directlyto CeeBees' head teacher when required. Everyyear, the cr6che contract with CeeBees is presented for renewal and the crbche management treats this as an opportunity to review and benchmark their own services and modify or improve their offering. Any challenges parents face are addressed by CeeBees directly. In the unexpected event that an issue needs to "Being a single mum, I have to juggle my be escalated to the company management, employees responsibilities at work, family and personal utilize an internal portal to communicate and have commitments. It's not always easy.A creche at monthly follow-up meetings with the management to work and the flexibility to work from home when resolve any issues. necessary means that I do not have to compromise one set of commitments for the other." Mother who is employed since 2008, LSEG Centre Technology In the last five years, the proportion of women among Fazneand Dhraress af banke byeacro and new graduate recruits at the Malabe campus has steadily Foundae anrecrestablsheCe st preschool aincreased from 20 percent to 35 percent. While the Childdacare enre13.estaise her firt presl company's childcare support was not solely responsible opan on day-car lyfourrfive inildr, 23 It was for this achievement, it is viewed as an essential opetration wIt onld fr orth fie chidreuniy bto it component of the company's strategy to recruit and at. Inowthe pridcred heriness w the pportuod gt retain women. Replacing an employee is costly. tollenniumIT kn the ae usine frsthe roue uAlthough there are no IT industry-specific estimates for MilleniumlTat, t t hi washe firstaco e Sri Lanka, the costs of replacing an engineer is estimated cheelf. opecrant uponahi her stabse at a minimum of eight months salary. In addition to the hrelhe crreonwtly maageoer corporatecosts of the recruitment process, there is an opportunity Crlmche3 opeatis whs MASlved K ereea ys and cost for the employee to become productive, and the ColobeembodifeeBehe asrvlve the adrs antime invested by colleagues, supervisors, and managers chaslben mdifyiinl the acr l adrs during the recruitment and orientation process. Hence, cost savings as a result of childcare support can be significant. Having employees who are fully focused on their work rather than worried about their children also enhances performance, including for those in the team Providing childcare was the first step to ensure that who do not have children. This can result in higher women remain in the company. The second step was to productivity, though it is difficult to quantify. build leadership and prepare them to take on additional diversity and inclusion responsibilities. Programs such as The company has evolved over the years and found a mentorship, leadership and development as well as the cost-effective way of providing such support in a manner women's network (namely Women-inspired Network) that reflects LSEG's values and its goal of being a truly contributed towards achieving a higher maternity return diverse company. rate and retention numbers. LSEG globally has a target of achieving 40 percent gender diversity by 2020, and Sri Lanka's offices are working towards achieving 30 "I have watched my daughter grow and benef it percent by 2020 (from the existing 22 percent in 2018). from the daycare environment, including its quality Conscious efforts and policies have been put in place to instruction. I can conf idently say it has smoothened work towards this ambitious target. Line managers are her transition to kindergarten and gives me the trained to be aware of unconscious bias during strength to focus on my career as well." performance evaluation processes and at exit interviews. They are encouraged to have honest conversations with Mother of a four-year-old, LSEG Technology their team members. Every interview panel must have a woman, with a target of at least one woman's resume to be forwarded for vacancies. 03 "My son's speech was delayed until the age of two. I am thrilled with his progress since joining the crbche. All credit goes to the crbche's curriculum which includes activities such as songs, storytelling, and memory games etc. Being the only child, he is also willing to share, play, and learn well together." Father of a two-year-old son, LSEG Technology T3 1 IFC. 2017. Government of Australia 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. 3 World Bank. 2018. Work or Family: Sri Lankan Women Shouldn't Have to Choose. 04 IFC Women in Work Prograrn IFC, Level 15, NDB-EDB Tower 42, Nawam Mawatha Colombo 2 Sri Lanka Email: womeninwork@ife.org December 2018 £1 The DFAT I FC Women in Work program Sri Lanka, in partnership with leading private IFCI .....sector companies, aims to demonstrate that corporate performance can improve from Creating Markets, Creating Opportunities closing gaps between women and men in the private sector.