What started off as a Corporate Social Responsibility (CSR) campaign to showcase the strength of Standard & Poor’s (S&P) global data and insights, #ChangePays turned out to be a global talking point which points to the positive value of change, specifically in greater women’s participation in the workplace.
According to Mr. Douglas L. Peterson, President and Chief Executive Officer, S&P Global, women's contributions in the workplace are significant and too often undervalued or underrepresented. He hopes that the #ChangePays campaign will serve as a convening force for action to create a more inclusive economy and promote a more sustainable future, especially in elevating awareness around the benefits of greater workplace inclusivity. In the last 20 years, the revenue of women-owned companies in the US has grown by 103%. And just adding more women into the workforce, the global GDP could grow by 26%. This goes to show the significant value in change.
In 2018, Bloomberg launched a comprehensive investment-quality data source on gender equality. This data source tracks the performance of companies that are leaders in advancing women globally. Initial findings show that companies with policies and practices that promote equality benefit everyone – employees are happier, more productive and exhibit a greater sense of loyalty. These companies that prioritize workplace inclusivity tend to outperform its peers.
Known as the Gender-Equality Index (GEI) survey, it includes 230 companies from ten sectors headquartered in 36 countries and regions in its 2019 edition, compared to 104 companies from 24 countries and regions across ten sectors in 2018’s edition.
This GEI survey offers a standardized framework to help measure and track progress, especially for companies that have not previously disclosed data on their approach to equality. Using best practices as a guide, GEI members have found that benchmarking this data against peers is a useful tool to engage business leaders and strengthen internal diversity and inclusion programs.
So, are you ready to part of the change?