What should companies do if they want to be included in the Bloomberg Gender Equality Index (GEI)?
According to the Bloomberg Gender Equality Index, companies listed on the stock exchange report data on gender equality in an open and transparent manner. Companies that have the opportunity to take advantage of many advantages by being included in the index should not engage in a number of internal and external applications. For example, they should regularly conduct trainings to break down internal biases. Companies should develop policies with the Bloomberg Gender Equality Index. At the same time, gender equality should be observed in in-house representation. Companies that have a transparent management approach are monitored and evaluated. The companies are examined in detail and each company in the group companies can be evaluated and nominated separately. The most important element here is that companies that want to be included in the Bloomberg Index can access a lot of data that they are not even aware of by evaluating them with the right reporting and data collection method.
Companies evaluated by international standards also attract the attention of investors who have a social investment understanding in their sustainability reporting. There are many actions that companies that want to be included in the Bloomberg Gender-Equality Index should take. Companies included in the action plan should submit a detailed and comprehensive overall performance report in five different areas. Companies that receive good marks in the scoring system predetermined by Bloomberg are eligible to be included in the index.
The index's first criterion is the transparent gathering and reporting of data. Another factor is the building of a structure that encourages women leaders and bright women in management to participate.It is very important and critical that managers and people in decision-making authority behave with equal rights in the promotion process. Another element is that equal pay is applied to equal work. A different element is that a corporate culture covering all segments has been created with gender equality in mind. Another element is that they should be against violence against women as an institution and take action on this issue. As a final element, a pro-women brand should be created and barriers to women's employment should be removed. In practice, many different actions are performed. For example, By providing mentoring services to female executive candidates, their motivation and competence can be increased. To give another example, the support of women entrepreneurs and suppliers in the production process also shows that gender equality is observed within the scope of the index. The sectors most included in the index are finance, technology and services.
The companies included in the index that are making many applications are competing with each other at the same time with their projects they are making. Companies that do not know that every project is not accepted in this sense, unfortunately, do not get the expected result in the annual report at the end of the year. Companies that want to be accepted to the index find many different solutions by focusing on women's empowerment. Companies operating worldwide should observe gender equality both within the organization and in the supply chain, as well as separately in all areas in which they operate.
Author:
Buğçe Ağca
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