Companies Increase Efforts to Create Gender-Equal Workplaces
(3BL Media/Justmeans) – Market data shows that gender equality in companies is directly correlated to improved performance. According to recent Bloomberg figures, companies led by women CEOs who have held their position for at least two years appreciated 37 percent since the fourth quarter of 2014. The S&P 500 advanced 21 percent during that same time period.
Bloomberg has now unveiled the 2017 Financial Services Gender-Equality Index (BFGEI), providing investors and organizations with unique insight into the efforts of 52 companies across 17 countries that are driven by a commitment to building gender-equal workplaces.
The index shows that 2017 BFGEI member firms have an average of 24.2 percent female representation on boards. The percentage of female executives in the member firms rose by 25.2 percent between 2014 and 2015. Seventy-three percent require a gender-diverse slate of candidates for management roles, and 83 percent offer or sponsor financial education programs for women in their communities. Three in four firms also provide return to work programs for women.
Some of the member firms in the 2017 BFGEI include Bank of New York Mellon, Barclays, Citigroup, Grupo Financiero Banorte SAB de CV, JPMorgan Chase, MetLife, Morgan Stanley, PNC Financial Services, Prudential, Toronto-Dominion Bank, Voya Financial, AIA Group, Allianz, American Express, Bank of America, BNP Paribas, Deutche Bank, ING Groep, Mastercard, Mitsubishi Financial, Royal Bank of Scotland, Standard Chartered, UBS, Visa, and Westpac Banking.
Peter T. Grauer, Chairman of Bloomberg, said that the company is encouraged by the significant expansion of this year’s index, and by the leadership each of the member firms has demonstrated. Their commitments to building diverse and inclusive work environments are setting new standards around the globe and raising awareness around the challenges all organizations face.
Some of the companies outside of the 2017 BFGEI universe criteria are recognized for their commitment to disclosure around gender equality by voluntarily submitting GEI survey data. These include Banco Popular, Clorox, and L’Oréal.
Source and Image: Bloomberg