Diversity and inclusion are necessary for creating a healthy company culture where employees belonging to diverse backgrounds feel welcome and respected. This also enhances employee engagement and productivity. Diversity is a great tool to encourage people to learn about various cultures and other’s viewpoints, which give birth to novel ideas and better decision-making.
Research shows that gender-diverse companies are 15% more likely to outperform their peers and ethnically-diverse companies are 35% more likely to do the same. According to another research, companies with more women on the board outperform their peers over a long period of time. A Deloitte Australia research has shown that inclusive teams outperform their peers by 80% in team-based assessments. Here’s taking a look into some global companies which are known for their adherence to DEI (diversity, equity, and inclusion).
Novartis
The pharma major operates in India as Novartis India Ltd and Novartis Healthcare Private Ltd. Novartis aims to create a diverse, equitable and inclusive workplace where every employee can be their true selves and deliver their best, which will help the organisation to reach underserved communities and reimagine medicine. Novartis strives to build an inclusive and equitable workplace that empowers employees to achieve their full potential.
At the end of 2023, Novartis renewed its pledge with the United Nations’ Equal Pay International Coalition (EPIC), to remain committed to maintain gender balance in management and continue to enhance pay equity and transparency globally.
LGBTQI+ Equity
As an organization, Novartis actively promotes Lesbian, Gay, Bi, Transgender, Queer & Intersex (LGBTQI+) equity and awareness at work and in the wider society, in partnership with its local Employee Resource Groups. The purpose is to enable people to work without the fear of discrimination. In 2018, Novartis became the first global pharmaceutical company to pledge support for the United Nations Standards of Conduct for Business, tackling discrimination against Lesbian, Gay, Bisexual, Transgender, Queer and Intersex (LGBTQIA+) people.
Disability equity
Novartis is a member of the ILO Global Business and Disability Network and the Valuable 500, promoting the inclusion of people with disabilities in workplaces around the world. The pharma company has also collaborated with international partners, such as Disability:IN, Purple Space, and Business Disability Forum to identify and develop best practice solutions to enable people with disabilities to participate as equal members of the organization.
Gender equality
In a recent interview given to CNBC TV18, Vasant (Vas) Narasimhan, CEO of Novartis said that the company is committed to gender parity and hence they focus on equal pay for equal work and significant representation of women in management roles both in Novartis India as well as across the world. The CEO informed that women occupy 48% of management positions in Novartis.
Every associate at Novartis undergoes inclusivity awareness and education programmes to sensitise them to diverse perspectives and identities. The interview panels ensure diversity in the company’s recruitment processes. By providing 24-week gender-neutral parental leave, Novartis supports all employees, regardless of their gender identity or sexual orientation, in balancing their work and family responsibilities. The health insurance also covers families including same-sex partners and their children, along with gender reaffirmation surgery costs.
An Employee Resource Group has been created for LGBTQIA+, which focuses on creating a more inclusive workplace for everyone. This group provides a platform for employees to connect, share experiences, provide mentorship, and advocate for LGBTQIA+ inclusion within the organisation.
The company has undertaken the Equal Pay International Coalition (EPIC) pledge and is working towards an aspiration to enable equal pay for equal work across the organisation irrespective of their gender identity.
Johnson & Johnson
American multinational pharmaceutical, biotechnology, and medical technologies company Johnson & Johnson believes in respecting diversity by hiring people of all backgrounds, beliefs, abilities and experience. The company’s Diversity, Equity & Inclusion (DEI) vision is – “Be yourself, change the world.”
“A critical driver of the Company’s success is the diversity of its 131,900 employees worldwide,” says Johnson & Johnson’s website. Workplace diversity at Johnson & Johnson’s rests on four core pillars:
Building a workforce of individuals with diverse backgrounds, cultures, abilities and perspectives
Fostering a culture of inclusion where every individual belongs
Transforming talent and business processes to achieve equitable opportunities for all
Driving innovation and growth with our business to serve diverse markets around the world
Programmes supporting Diversity
Johnson & Johnson has put its support behind two pilot programs aimed at setting nurses up for success on campus and in healthcare settings. Johnson & Johnson’s Our Race to Health Equity (ORTHE) Initiative has funded more than $1 million in scholarships to BIPOC (Black, Indigenous, and people of colour) nursing students through the Foundation of the National Student Nurses Association. ORTHE is investing in two pilot programs that encourage and mentor nursing students of colour.
The first programme developed by the National League for Nursing is designed to help students of colour with a smooth transition from their last year of school to their first clinical job. The second initiative is led by the American Association of Colleges of Nursing, which has developed a detailed online survey for student nurses to measure their sense of belonging in classrooms. The goal is to use the survey results to foster a more inclusive and encouraging culture on campuses.
The Johnson & Johnson Re-Ignite program is for experienced professionals ready to return to work after a career break of two years or longer. Guided by mentors and feedback from those who have successfully completed the program, Re-Ignite is for people rejoining the workforce after Military service, starting or raising a family, caring for a family member, teaching, community service, political office, entrepreneurial ventures, volunteer work, continuing education etc.
Since its launch, Johnson & Johnson has been reaching out to women across India who are currently on career breaks on account of getting married or having children or pursuing academic programmes. With the intent to bridge this gap, Johnson & Johnson launched the Re-Ignite programme in India in July 2020.
Mastercard
Mastercard prioritises Diversity and Inclusion in its business strategy to make sure all employees feel accommodated and to ensure better decision-making and problem-solving. At Mastercard, the Board and its committees oversee other human capital management matters on a regular basis, such as ensuring processes are in place for maintaining an ethical corporate culture, overseeing key diversity, equity and inclusion (DEI) initiatives, policies and practices, and monitoring governance trends in areas such as human rights. The purpose is to attract, develop and retain top talent and at the same time build a healthy workplace culture.
Mastercard has developed regional and functional action plans to identify priorities and actions that will enable them to make more progress for DEI, including appropriate balance and inclusion in gender and racial representation. The company is committed to its “In Solidarity” initiative to address local needs and opportunities, for example through the introduction of new training programs such as our neurodiversity hiring initiative and new partnerships with historically Black colleges and universities in the U.S.
Mastercard also ensures there is equal pay for equal work. There is a framework for examining pay practices annually, supported by third-party analysis and benchmarked to the external market.
Talking about Workforce Demographics, 39% of the company’s global workforce are women, 44% of its U.S. workforce are people of color, female employees earned $1.00 for every $1.00 men earned during 2023, in the U.S., employees of color earned $1.00 for every $1.00 white employees earned during 2023, the median pay for female employees was 96.4% compared to male employees during 2023, Mastercard revealed in its Annual Report for FY 2023.
Accenture
Accenture is globally reputed for respecting Diversity and Inclusion which boosts Employee retention, performance and creativity. The company hires people with different backgrounds, different perspectives, and different lived experiences.
Accenture featured on the Bloomberg Gender-Equality Index for the second year in a row, and also earned the #1 position on the Refinitiv Global Diversity & Inclusion Index for the fourth time in six years. This index ranks over 15,000 organizations globally and identifies the top 100 publicly traded companies with the most diverse and inclusive workplaces.
As of 31st August 31, 2023 Accenture has approximately 733,000 people with the majority of its people being in India, Philippines and the U.S. Accenture mentions in its annual report that the company has 48% women, and, currently 29% women managing directors, as compared to its goal of 30% by 2025. The company is also working toward its total workforce 2025 race and ethnicity goals in the U.S., the U.K., and South Africa, which it announced in 2020.
Accenture is committed to pay equity to ensure that employees receive pay that is fair and consistent when considering similarity of work, location and tenure at career level. An annual pay equity review is conducted. As of the review which reflected annual pay changes effective December 1, 2022, the company claims it has 100% pay equity for women compared to men in every country where it operates. By race and ethnicity, there is a 100% pay equity in the U.S., the U.K. and South Africa. Along with accolades from other countries across the world, Accenture features on Business Today’s Best Companies to Work For in India.
Ernst & Young
At Ernst & Young (EY), full and effective participation of women and equal opportunities for leadership at all levels of decision-making is encouraged. The multinational professional services company works to ensure gender equality at all levels and especially focuses on greater gender balance at leadership level. Several activities including global and local mentoring programs, unconscious bias training, and strengthened efforts around parental leave, are being implemented.
By 2030, the company aims to empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status. EY works to ensure diversity, equity and inclusiveness for its people. It strives to offer all employees equal opportunities in recruitment and selection, development and promotion. The goal is for all employees to feel appreciated, respected and fairly treated with appropriate compensation and good benefits. At EY, the responsibility to respect human rights extends beyond its direct operations to its supply chains as well.
A diverse workforce equips the organisation to utilize the power of different opinions, perspectives, knowledge, abilities, and cultural references to set the best teams and help our clients in the best way possible. To demonstrate its commitment to DEI, the EY Global Executive, the highest leadership body of EY, has signed the EY Global Executive Diversity, Equity and Inclusiveness Statement. This is supported by the company’s global inclusion and non-discrimination global policy, which describes its commitment to offer all employees equal opportunities in recruitment and selection, training, development, and promotion. In line with the Universal Declaration of Human Rights, these opportunities should not be affected by gender, race, age, ethnicity, disability, and sexual orientation.
EY Denmark was among the first to sign the Diversitetspagten (Diversity Pact) issued by the Danish Chamber of Commerce. EY Denmark is also a signature to the Diversitetsløfte (Diversity Promise) by the Confederation of Danish Industry to create more gender balance in the business community. These initiatives aim to create more fairness and equality in workplaces by promoting gender diversity across sectors and companies in Denmark.
During FY 23, EY has brought to life several DE&I initiatives. The company has a review committee that monitors fair promotions and has established guidelines for how its recruitment should take place. Its guidelines state how vacancies should be advertised, how the ads should be designed and how interviews should be conducted to attract as much diversity as possible. To promote gender balance in recruitment, EY also applies positive action to the extent possible, and in its promotion work, the company works on the principle of “fair representation” to ensure that there is an even distribution of promotions given the population at the given rank.
