The government is to partner with global business and financial information company Bloomberg to promote and improve reporting and transparency around gender equality in the workplace
The move will see Bloomberg include six data points from the government’s gender pay gap metrics into the global reporting framework of the Bloomberg gender-equality index (GEI).
Since 2016, the Bloomberg GEI has provided investors with standardized, comparable data on a range of social factors related to gender equality in the workplace. The 2018 GEI includes 104 companies headquartered in 24 countries and regions.
Companies that have demonstrated their support of the GEI and a commitment to disclosure include: Anheuser-Busch InBev, Bank of America, Barclays, BNP Paribas, Ford Motor Company, Goldman Sachs, JPMorgan Chase & Co., Mastercard, Pearson and Unilever.
Eligible companies are scored based on data available in public filings and additional information collected through 67 questions as part of the GEI survey, a comprehensive overview of company statistics, employee policies, external engagement and gender-conscious product offerings.
Beginning in 2019, the GEI survey will incorporate six data points from the UK government’s pay gap methodology, including the percentage of men and women in each quartile of payroll, and median and mean gender pay gap.
In addition, Bloomberg and the government will work together to improve transparency on a global scale and build consensus with companies around the key metrics and drivers of gender equality in an organisation.
They will also look to create a clear measure for investors, consumers and employees to evaluate gender equality, and to improve transparency of gender equality data on a global scale.
Penny Mordaunt, minister for women and equalities, said: ‘This partnership with Bloomberg shows the growing global commitment to transparency and gender equality at work. Some of our biggest UK companies like Barclays, BT, Deloitte and Sky have already taken action, showing that gender equality is not just a moral imperative, it is good business.’
Kiersten Barnet, manager, Bloomberg GEI, said: ‘While gender pay is just one of the issues to overcome in the fight for parity, offering employers a standardized framework to measure their progress reduces the burden of reporting and creates a common global language for discussing gender equality.’
Report by Pat Sweet
