This June 14th L’Oreal received the Equileap’s award for Gender Equality to honor its number 1 position in Equileap’s 2017 Global Gender Equality Ranking, among over 3 000 companies in 23 countries based on 19 gender equality criteria, including remuneration, leadership opportunities, balance between work and private life, and paid parental leave. Jean-Claude Le Grand, L’Oréal Senior VP Talent Development and Chief Diversity Officer, received the award at a ceremony held in Amsterdam. Proud of this award representative the result of over 10 years of continuous efforts, Jean-Claude Le Grand stated that this struggle represents « a strategic lever to increase wellbeing at work, fuel creativity and innovation, and boost performance and growth. »
In the L’Oréal Group, women represent 62% of executives, 33% of the Executive Committee members and 46% of the members of the Board of Directors; 58% of L’Oréal brands are managed by women (as of 31/12/2016).
The L’Oréal Group has a long-standing commitment to workplace gender equality, and aims to ensure equal job classifications and pay for equal skills. In France, where L’Oréal has worked with the French national institute for demographic studies (INED) to analyse the pay gap since 2007, the gender- based pay gap on a like-for-like basis was equal to 3.21% in 2015 for management and non-existent for other categories of employees.
In recognition of its progress on workplace gender equality, L’Oréal has received the GEEIS (Gender Equality European and International Standard) certification in 23 countries and the EDGE (The Global Business Certification Standard for Gender Equality) certifications in 7 countries.
At the award ceremony, Diana van Maasdijk, Co-Founder and CEO of Equileap, recalled the economic stakes associated with this equality which« is not only the right thing to do, it is also the smart thing to do, with a significant number of research papers indicating that it tends to lead to higher returns and lower risk. » Equileap, organisation headquartered in London and Amsterdam, and aiming to accelerate progress towards gender equality in the workplace, using the power of investments, grants and knowledge Today, Equileap honors L’Oréal with an award as the number one company in its gender equality ranking, and has rewarded L’Oréal and hopes that this trophy will « encourages other companies to go further to speed up the achievements of gender equality worldwide. »
