- For second year in row, Schneider Electric recognised in Bloomberg’s Gender-Equality Index
- Schneider Electric is one of four companies to receive the 2019 Catalyst Award
Thursday 17th January, London, UK – Schneider Electric, the global leader in digital transformation of energy management and automation, has received two significant accolades for its commitment and progress towards gender equality and inclusion across the Group. The company has been awarded as one of the 230 companies included in the 2019 Bloomberg Gender-Equality Index (GEI) and for the first time received the 2019 Catalyst Award that highlight companies for their bold and forward-thinking initiatives that help create safe and inclusive workplaces where women can advance.
“Schneider Electric’s commitment is to provide equal opportunities to everyone, everywhere, and to ensure that all our employees feel uniquely valued and safe so that they can contribute to the best of their potential,” said Olivier Blum, Global Chief Human Resources Officer and Executive Vice President at Schneider Electric. “Our inclusion on Bloomberg’s GEI, and the prestigious Catalyst Award, demonstrate our strong performance in Diversity and Inclusion, both at the global and country level.”
Bloomberg recognises Schneider Electric’s commitment to Diversity and Inclusion
For the second year in a row, Schneider Electric has been ranked on Bloomberg’s GEI. Created in 2016 to provide managers and investors with comparative information on gender-equality performance of the world’s biggest financial services companies, the GEI was extended to all sectors for the 2018 Index. In 2019, Schneider Electric is one of 230 global companies, and only one of eight in the industrial sector, to be ranked.
Schneider Electric scored high on top management commitment, gender inclusive company policies, and community engagement. This strong performance reflects the company’s numerous initiatives to drive positive change and monitor its progress. As part of this commitment, both the implementation of the Global Family Leave policy and application of the global pay equity framework are part of Schneider Sustainability Impact, which is as a barometer to gauge the Company’s sustainability development performance and is part of all employees’ variable compensation. As of the end of 2018, more than 50 countries have implemented the Family Leave policy and over 90% of the Group employees are covered by the Pay Equity Framework.
“We applaud Schneider Electric and the other 229 firms tracked by the index for their action to measure gender equality through the Bloomberg GEI framework,” said Peter T. Grauer, Chairman of Bloomberg and Founding Chairman of the U.S. 30% Club. “Schneider Electric’s GEI inclusion is a strong indicator to its employees, investors and industry peers alike that it is leading by example to advance ongoing efforts for a truly inclusive workplace.”
Catalyst praises Schneider Electric’s extraordinary progress in India
The Catalyst Award celebrates innovative organisational approaches with proven, measurable results that accelerate progress for women through workplace inclusion. Schneider Electric is one of four organisations receiving the award this year alongside Bank of America, Deutsche Post DHL Group and Elli Lilly. The company is recognised for Schneider Electric India’s holistic approach to gender inclusion attracting and retaining women in Schneider Electric India.
To assess the Group, Catalyst engaged Schneider Electric India leaders and employees in an extensive evaluation which includes documentation reviews, phone interviews and onsite visits. In Delhi and Bangalore Schneider Electric Offices, Catalyst was impressed by the results inclusion has brought to the organisation in a country where gender equality is a big concern.
Schneider Electric India’s holistic approach comprises:
- Robust recruiting and retention programs, including targeted campus hiring and outside sector recruitment, intentional recruiting and retention of people across the various dimensions of diversity, including disability and LGBTI.
- Efforts to re-engage women following a career break through programs such as Her Second Innings, which eases women professional’s transition back into the workforce.
- Men’s engagement and inclusion in all aspects of the initiative to encourage and support their participation as allies and champions.
- Flexible work arrangements for all. Many employees shared stories with us about their ability to work remotely for extended periods with the support of their managers and colleagues to care for sick loved ones. Additionally, more fathers are taking parental leave.
“At Schneider Electric we know that embracing diversity is simply an unfiltered acknowledgement of the truth of this world. It goes without saying that creating an empowering environment for individuals from diverse cultures, gender identities, socio-religious preferences and special abilities gets them to bring their authentic selves to work. It’s that common feature which allows them to contribute their finest at work and outside.” said Anil Chaudhry, Managing Director & Zone President, Schneider Electric Greater India and Member of the Global Diversity & Inclusion Board of the Group. “We are proud to be walking the talk these last few years on diversity and inclusion- and are truly humbled by Catalyst’s recognition. I am proud of my team which has been working at this passionately.”
From 2015 to 2018, the impact of the initiative has been increasingly tangible, with women’s representation increasing across all levels 15.9% to 20.8%, despite an overall workforce shrinkage of 5%, and women’s voluntary attrition rates shrinking by almost half, from 14.6% to 7.8%.
Schneider Electric India’s recognition is a testimony to the broader diversity and inclusion transformation led by the company at the global level. By focusing on inclusion for all, Schneider Electric’s achievements in India are an example of the company’s overall ambition to provide equal opportunities to everyone while creating both physical and psychological safety for all employees.
