LANXESS, the specialty chemicals company, is gearing to increase the proportion of women in managerial roles to 30 per cent, globally. The firm wishes to attain this goal by 2030. It is pertinent to mention here that at the end of 2020, around 23 per cent of the managerial roles at the Company were being essayed by women.
Realising that the best talent and diverse teams are required for efficient and effective decision making, Matthias Zachert, chairman of the board of management, LANXESS AG, feels “bringing more women into management positions, is therefore, a decisive factor for the further successful development of our company”.
To promote the professional and personal development of women, LANXESS offers young executives individual mentoring and coaching opportunities. Additionally, it is setting concrete goals for staffing its global talent programmes.
At least 30 per cent of the participants will be women. Even when it comes to hiring, LANXESS relies on women-specific events. Its training and development initiatives are designed to attract women.
The Company, which has a 14,900-strong workforce across 33 countries, is also continuously expanding its offerings for balancing work and family life. By end of 2022, it plans to offer its employees, across 95 per cent of the countries it operates in, the flexibility to work from anywhere at any time.
Earlier this year, in February 2021, LANXESS joined the Women’s Empowerment Principles initiative of the UN Women and UN Global Compact. This underlines the Company’s commitment to promoting business practices that empower women, such as equal pay for work of equal value, gender-sensitive policies for the advancement of women, and zero tolerance for sexual harassment at the workplace.
Group financing is yet another step towards increasing the proportion of women. Since 2019, the interest rate of LANXESS’ main revolving credit facility has been linked, to how well the firm increases the proportion of women at the top three management levels.