Thursday Nov 14, 2024
Thursday Nov 14, 2024
Thursday, 12 September 2013 00:00 - - {{hitsCtrl.values.hits}}
If you look around the world for recent examples of economic growth, you would find technology, trade, land and natural resources, capital investment and people resource. While we have all these factors in limited availability, the biggest asset we have is the people asset. Therefore we stress upon the need for Sri Lankan business leaders to recognise the magnitude of the issue with two new HIV cases reported every week.
While Sri Lanka is considered a low prevalence country, given that the country’s economic growth is centred around tourism, foreign employment, trade, sport marketing, exports-related travelling, etc., our workforce has become highly vulnerable. Given this backdrop, we the business leaders have to come together and work together to mitigate this huge potential risk facing our workforce.
Think beyond social responsibility – It impacts your bottom-line too. Act now, not later There have been many individual success stories in the business response to the epidemic, but this is not enough. Partnering the national response to HIV and AIDS needs to be an intrinsic component of the way in which a company operates.
Way forward
Isolated centres of expertise, resources and material are available within the business sector, but there is a lack of engagement of corporates and access to existing resources and best practices. The triple bottom-line focus with adequate attention to people is the way forward and we need to protect our people if we are to honour our commitment as business leaders.
The social and economic costs of HIV and AIDS to the global community are stark and well-documented. In the Asia Pacific region alone, around 10 million people could now (2010) be living with HIV and AIDS. The International Labour Organization estimates that close to one million people in the region are unable to work because of AIDS-related illnesses. The annual financial loss to the region associated with the disease has been estimated by the Asian Development Bank to be in excess of US$ 17.5 billion. The best we can do as business leaders is learn and act with commitment to minimise the social and economic impact it would otherwise have.
The epidemic has the potential to undermine the sustained growth of the Sri Lankan market because it strikes at the most economically active age groups – the workforce, people aged 16 to 49. These costs are not just a concern for public policymakers; they are a matter of serious concern to all businesses operating in the country. So the business community should respond to HIV not just out of humanitarian concern but for sound economic reasons.
The lead role in fighting diseases like HIV and AIDS one will argue is that of a national government. However, there are now many examples from around the world of better outcomes when the public and private sector work in partnership to achieve an important development goal. Businesses and business leaders can and should play a vital role, by proactively acting now.
Implications to business
Let’s learn from high prevalent countries. Business organisations in those countries are paying for their own mistakes and ignorance; surely we don’t want to make the same mistakes in Sri Lanka? At an individual company level it makes sense to develop an effective prevention plan.
Looking first at the bottom line, HIV cuts into planned company expenses by increasing costs of employee healthcare, recruitment and training. Companies with employees who become HIV positive are likely to see a reduction in productivity as staff become ill.
As prevalence levels rise profits are impacted as expenses increase, service delivery fails to adhere to planned schedules and customers change their purchasing plans because of the HIV expenses they incur. Given the magnitude of the issue and complex action needed, joining hands with all other Governmental and Non-Governmental Organisations with a collaborative approach is a must in my view.
CEOs and senior managers of successful companies tend to view their workforce as their most important asset. They are therefore unlikely to be so short-sighted as to not want to protect their employees’ health.
Leading companies are aware that their responsibility goes beyond producing a satisfactory return for their shareholders to having a positive interaction with the broader community of which they form a part. Companies with active community relations programs are also investing in their own long-term prosperity. The triple bottom-line focus with adequate attention to people is the way forward and we need to protect our people if we are to honour our commitment as business leaders. Let us prevent Sri Lanka from having to experience what Africa is going through today – this should be priority for all business leaders and action must be taken now.
Strategic importance of the Lanka Business coalition
The Lanka Business coalition, by which we mean independent legal entities owned and controlled by a group of individual businesses, have emerged as an ideal platform for multinational, national and local firms to come together to fight the epidemic.
The coalition conducts sensitisation programs and peer educator programs for its member organisations. Sessions include training for senior level management, peer leaders and all levels of staff including production floor and even medical staff. The training materials developed in both English and the local language is shared with the organisation at no cost.
The coalition also strives to drive Sri Lanka’s business sector to implement much-needed HIV and AIDS workplace policies throughout their organisations. The policy would provide a framework for action to reduce the spread of HIV and AIDS, avoid stigma towards those living with the disease and manage its impact on the labour force.
Being part of an effective response to raising awareness and training on HIV and AIDS in the workplace demonstrates a company’s commitment to good corporate citizenship and to the wellbeing of its employees, customers and communities.
Join hands with LBCH today for everyone’s benefit
Just as no country has remained untouched by AIDS, no business institution can be immune to its impact. Until recently, most of the business world passed on the responsibility for the pandemic to the Government, activists or the public health community. However, today there is growing evidence across the business community that becoming involved in the response to HIV and AIDS is crucial not only as part of good corporate citizenship but also due to corporate self-interest.
I appeal to all business organisations to join hands with LBCH and companies such as JKH, SCB, Hayleys, Aitken Spence, HNB, Chevron and other member companies numbering over 65 to work on a common platform to ensure a sustainable operating environment for both social and economic reasons.
Visit lbchconnect.com for more details and if you’re already a member, join us at the AGM on 13 September at the Cinnamon Lakeside to show your commitment.
