Investing in Equality: Janashakthi Group’s Commitment to a Women-Friendly Workplace

Janashakthi Group (JXG) is an emerging financial conglomerate with a presence spanning the insurance, finance, and investment banking sectors. Each of the Group’s core businesses stands as a formidable leader in its respective industries. Janashakthi Group is the principal holding company and has majority stakes in its key subsidiaries: First Capital Holdings PLC, Janashakthi Insurance PLC(Janashakthi Life), and Orient Finance PLC. Janashakthi Foundation, the philanthropic arm of the Group, engages in initiatives that contribute to the well-being and development of society.

JXG’s roots trace back to the early 1990s when Founder & Chairman Emeritus Mr. C.T.A Schaffter inaugurated Sri Lanka’s first specialized life insurance company, playing a pivotal role in revolutionizing the industry. Over the following decades, through strategic mergers and acquisitions, Janashakhi Group has evolved and expanded its reach.

The ‘X’ in the brand name symbolizes exciting opportunities, expansion, and exponential growth, representing the multiplication of potential coming together as a unified entity. Our tagline “Stronger Together, Stronger Than Ever” encapsulates our commitment to unity and collective strength.

Janashakthi Group, since inception has been dedicated to creating a supportive and empowering workplace for women. This commitment is deeply embedded in the company’s policies, culture, and leadership, reflecting a vibrant, inclusive environment where women thrive.

“At JXG, we believe in the transformational power that a diverse and inclusive workforce brings to an organization. A gender-balanced workforce unlocks a wealth of perspectives, fuelling innovation and driving success. As a woman, I’m proud to be part of an organization that champions this ideology. While advocating for diversity, our policies ensure a safe and equitable workplace, we support work-life balance initiatives and recognize & nurture talent regardless of gender, creating a truly women friendly workplace” Expressed, Wasanthi Stephen, Group Chief Human Resources Officer – JXG.

Wasanthi Stephen,

Group Chief Human Resources Officer – JXG.

Core Values Driving Equality, Equity and Success

JXG’s journey towards becoming Sri Lanka’s leading investment conglomerate is driven by a strong adherence to its core values: Ethical and Honest, Collaborative, Respectful, Performance Driven, and Transparent. These principles guide every decision and action within the organization, establishing a solid foundation for a fair and supportive workplace.

Leadership and Championing Gender Diversity

Janashakthi Group’s leadership team includes nine board members, among whom are two distinguished women. At the executive level, the C-suite comprises seven visionary leaders, with three being women. These leaders play a crucial role in shaping JXG’s strategic direction and fostering a culture of inclusivity and empowerment.

JXG is dedicated to harnessing the power of diversity and actively addressing gender disparities across all levels of the organization. Women currently represent 22% of the Board, 43% of Senior Managers, and 42% of Managers and below, reflecting significant progress towards achieving gender parity. JXG believes that balanced representation not only promotes equality but also serves as a strategic advantage, driving innovation and sustainable growth.

Equal Professional Development Opportunities

JXG is committed to providing equal professional development opportunities through a variety of impactful programmes. These include the Leadership Development Programme (LDP) at PIM, the Mentorship Programme led by the Group Chief Human Resources Officer, and participation in Toastmasters. Additionally, JXG offers professional membership reimbursements and education loans to support continuous learning and development. Notably, female participation in these programmes has shown significant growth: the LDP at PIM has seen an increase from 25% in 2023 to 38% in 2024, the Mentorship Programme currently has 33% female participation, and participation in Toastmasters has grown from 45% in 2023 to 75% in 2024.

Empowerment Through Enhanced Financial Literacy

JXG’s #FinPowerHer initiative features regular webinars conducted by one of the esteemed female Directors, aimed at empowering women to achieve their financial and wealth creation goals through enhanced financial literacy. These sessions delve into key areas such as macroeconomics in financial decision-making, personal finance management, and investment opportunities. Through this series, Janashakthi Group strives to equip women with the knowledge and tools necessary to navigate financial and capital markets confidently.

Policies that Shape a Secure and Equitable Workplace

JXG’s policies are designed to ensure a safe and equitable workplace for all employees. The company maintains equal pay structures for both males and females, reinforcing its commitment to fairness. Anti-harassment policies enforce zero tolerance for any form of violence, abuse, or harassment, including sexual harassment. Additionally, JXG’s grievance handling policy ensures women’s representation in the process, promoting fairness and providing essential support. These measures underscore JXG’s dedication to creating a respectful and inclusive work environment.

Work-Life Harmony and Supporting Working Parents

With the aim of supporting their employees in balancing their professional and personal lives, Janashakthi Group has implemented several measures. At the corporate head office, the company provides comprehensive childcare support within the office space. This includes designated areas with Lego, games, entertainment, a café with refreshments, and private pods for nursing mothers. Paid maternity leave includes 12 weeks of leave with an option for an additional two months of half pay leave, supporting new mothers. New fathers are also offered 2 weeks of paid paternity leave. These policies enable parents to prioritise their family needs. Additionally, flexible work hours and remote working options are available to support all employees in effectively managing their responsibilities.

Beyond the Desk- Initiatives that Cultivate Community and Well-being

A strong sense of community and support thrives within JXG through a variety of initiatives, with significant female participation. Engaging Town Hall meetings encourage interactive Q&A sessions with senior leadership, fostering open communication channels. “Pens Down Thursday,” a weekly knowledge-sharing activity, features expert sessions on productivity tools, mental health, and even grief management, both from within and outside the organization. The “JXG Fun Squad” notably includes 50% female organizers who enhance the vibrant workplace culture through regular activities such as karaoke, movie nights, and breakfast sessions.

Recognition and Future Leadership Building

JXG, an organisation that values performance regardless of gender, demonstrates its commitment to fostering a diverse and inclusive workplace. In recent periods, nine high-performing female employees have been promoted, recognising their exceptional contributions and dedication.

To further empower the next generation of leaders, JXG has implemented several forward-thinking programmes, including the Apprentice Director Programme. This initiative is designed to groom future leaders from the ground up, providing them with the skills, knowledge, and experience necessary to excel in leadership roles. Currently, one female future director is participating in this rigorous programme, gaining hands-on experience and mentorship from senior leaders.

Conclusion:

Janashakthi Group demonstrates a steadfast commitment to fostering a work environment that leverages the power of gender diversity and inclusion. Their comprehensive approach extends beyond mere policy- it is a core principle embedded within their corporate culture. Through its comprehensive policies, inclusive culture, and visionary leadership in empowering women at all levels, Janashakthi Group continues their growth journey, envisioning a future where diversity not only drives success but also inspires innovation and sets a benchmark for excellence in the corporate world.