Figures for women in the corporate world are rather impressive, if the Gender Equality Index for 2022 is to be believed. About 7.5 per cent women are CEOs, 23 per cent executives, 29 per cent senior managers, 38 per cent are in middle management and 50 per cent in entry-level positions.
The 2022 Index covered 418 companies with a combined market capitalisation of $16 trillion, with headquarters in 45 countries and regions across 11 sectors.
It is truly heartening to know that firms across the world are taking conscious steps towards making the workplace more equal and inclusive.
As per the assessment made basis the 2022 gender reporting framework, 3 women on average, are board members of GEI companies accounting for 31 per cent of the board. About 72 per cent of companies have a chief diversity officer, or an executive with the primary responsibility of diversity & inclusion. A significant 61 per cent look for gender diverse candidates for management positions, while 39 per cent is the average percentage of women in revenue-producing roles. The average percentage of female executives is about 23 per cent, while 31 companies have a woman in CEO or equivalent position.
Data from Bloomberg’s ‘Gender-Equality Index’ reveals that the energy sector had the highest increases in female leadership score, while the Industrials sector had the largest increase in gender pay score.
The healthcare sector had the largest increase in inclusive culture score, while the consumer staples sector had the largest increase in anti-sexual harassment policies score. The utilities sector had the largest increase in pro-women brand score.
Disclosures from organisations reveal how companies around the world are investing in women in the workplace, the supply chain and in the communities in which they operate.
It is also learned that 86 per cent of employees on average, that return from parental leave remain with the company. About 76 per cent of the organisations provide for on-site lactation rooms and 60 per cent offer childcare subsidies or other forms of financial assistance. A significant 67 per cent of managers are required to undertake an annual training on unconscious bias.
The gender reporting framework comprised questions, based on optional disclosure in metrics related to female leadership and talent pipeline, gender pay and equal pay parity, inclusive culture, anti-sexual harassment policies, and pro-women brand.
A company’s GEI score is determined by its level of disclosure and performance (data excellence).
Interestingly, this year, seven Indian companies made it to the list — Dr Reddy’s Laboratories, Firstsource Solutions, HCL Technologies, Tata Consultancy Services, Tech Mahindra, Wipro and WNS Holdings. These companies have scored above the GEI Score threshold for inclusion and are committed to making strides towards equality in the workplace.