Some of New Jersey’s largest corporations have landed on the 2023 Bloomberg Gender-Equality Index, released Tuesday.
In the seventh reporting cycle of the index, more than 620 companies submitted their gender-related data, an 11% increase year-over-year, according to Bloomberg.
The Bloomberg GEI offers companies a blueprint for measuring key social indicators aimed at tackling inequality in the workplace. This reference index measures gender equality across five pillars: leadership and talent pipeline; equal pay and gender pay parity; inclusive culture; anti-sexual harassment policies; and external brand. A company’s GEI score is determined by its level of disclosure, data excellence and performance across these five pillars.
The average overall GEI score was 71% out of 100%, with an average 96% disclosure score.
But the average data excellence performance score was only 60%, and this fluctuated depending on the topic.
For female leadership and talent pipeline, the average rating was 51%, and 62% for equal pay and gender pay parity. Anti-sexual harassment policies was just 66%.
Of the companies that have submitted their data for consideration, 484 global companies met the threshold to be included in the 2023 GEI across 11 sectors, 45 countries and a market capitalization of $16 trillion.
Peter Grauer, chair of Bloomberg, said: “As encouraging as it is to see more companies around the world showing their commitment to inclusion, we are still far from gender equality being a global corporate standard. We believe the GEI framework is an important tool companies can use to mark their progress in inclusion, unite as a corporate community and drive social change.”
The chair added that, while the number of participants and the amount of data reported increased, the results showed a lot of room for progress.
Companies from New Jersey or with a heavy presence in the state that were included on the list include:
- American Water;
- Becton Dickinson and Co.;
- Campbell Soup Co.;
- Dr Reddy’s Laboratories;
- Fiserv Inc.;
- Hess Corp.;
- Merck & Co. Inc.;
- Novartis AG;
- Organon & Co.;
- Unilever PLC;
- Toronto-Dominion Bank;
- Veris Residential Inc.;
- Verizon Communications Inc.