WHAT’S BUZZING
Companies in Singapore lack a strategic approach to diversity, equity and inclusion
More than half of Asia Pacific and Japan’s organisations need a strategic approach to diversity, equity and inclusion (DEI) or are in the initial phases of developing one. This makes it difficult for organisations to move from goal-setting to goal-getting.
Workday’s Global Blueprint for Belonging and Diversity study also reveals that insufficient data and difficulties tracking progress are the key challenges to DEI efforts.
Only 26% of Singapore respondents say their organisation measures the business impact and perceived value of DEI initiatives. Close to six in 10 also share that tracking progress was challenging and required new systems and software to support a DEI strategy and implementation fully.
However, investments in DEI remain strong. Most organisations in Singapore have a budget for DEI initiatives, with 34% planning to increase that budget in the next financial year.
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To move to the next stage of their DEI journey, 44% of Singapore respondents believe their organisation needs a clear strategy — with DEI metrics included as a core part of corporate KPIs.
“Currently, many organisations either do not have data or are not effectively using available data to drive their DEI strategies and business impact. A data-driven DEI vision and strategy — supported by the right technologies — led by dedicated and engaged leaders across the organisation will enhance DEI awareness and education, drive adoption and accountability, as well as create meaningful and long-lasting positive change,” says Pannie Sia, Workday’s general manager for Asean.
Reducing the effects of conflicts through insights
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SAS works with the non-profit organisation The Fund for Peace (FFP) to identify areas of opportunity for a country to improve its preparedness for specific crises and shock scenarios with a new Crisis Sensitivity Simulator tool.
FFP’s approach empowers local, national, and regional stakeholders in conflict-affected countries with data and analytics to promote human security. The organisation works with partners worldwide to develop tools to generate consensus on risk factors and priorities for positive social impact related to factors such as climate risk, violent extremism, and political instability. However, for more effective response planning, it is necessary to assess the fragility a country may be experiencing and areas and systems of resilience.
With the Crisis Sensitivity Simulator, SAS helps FFP analyse a country’s sensitivity to varying degrees of shock based on its capacities and pressures. SAS takes the data and uses risk models to determine which crisis combinations will destabilise each country through various potential scenarios, allowing decision-makers to better prepare for a perfect storm.
FFP plans to continue working with SAS to further enhance the modelling and simulations with a range of additions, including machine learning and artificial intelligence for the prognosis of risk, prevention and prioritisation of resiliency efforts.
By facilitating structured dialogues, FFP will build on existing capabilities and provide the countries with risk modules they can use.
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IN PICTURE
Photo: Tencent Cloud and Nexon
Currently available in South Korea, NEXONTOWN is a metaverse platform that houses open halls, camping sites, classrooms and conference halls, where users interact with each other using items and characters from Nexon’s online games in the virtual world.
With Tencent Real-Time Communications, NEXONTOWN can access capabilities such as high resistance, allowing packet loss rates of up to 80% for audio and 50% for video. The platform also relies on Tencent Cloud for advanced audio and video features, low threshold, fast access and high concurrency support.
