“Promoting gender equality in the workplace is not just the right thing to do. It is also smart business,” says Michael Bloomberg. Indeed, a growing body of research supports the idea that having more women in leadership roles is linked to profitability.
So, how well are companies doing at promoting gender equality in the workplace?
Better than before, according to the results of Bloomberg’s 2019 Gender-Equality Index (GEI) — 230 companies made the index this year, which is more than double last year’s number. The 2019 GEI includes companies from 10 sectors across 36 regions and countries. Collectively, they employ 7 million women around the world.
Participation in the index requires companies to voluntarily disclose information about how they promote gender equality, which, Bloomberg notes, only 10% of eligible companies are currently doing.
Twelve food and beverage companies made the index this year.
- AB InBev
- Campbell Soup Company
- The Coca-Cola Company
- Coca-Cola FEMSA
- Diageo PLC
- Ingredion Incorporated
- Sanderson Farms
- Yum China Holdings, Inc.
- Yum! Brands, Inc.
Food and facilities management company Sodexo and food delivery service Just Eat also made the list, as did Air Products & Chemicals, Inc., and Praxair, Inc., both of which provide equipment and services to the food industry.
A few statistics from the GEI data:
- Women had a 40% increase in executive level positions between fiscal years 2014-2017.
- 60% of firms conduct compensation reviews to identify gender-based variations in pay.
- 68% of firms evaluate all advertising and marketing content for gender biases prior to publication.
To learn more about the GEI and how you can participate in the future, visit www.womenatbloomberg.com.