New Delhi, India– July 26, 2022: Signify (Euronext: LIGHT), the world leader in lighting, has published its first-ever Diversity, Equity, and Inclusion (DE&I) report, illustrating its commitment to developing a diverse workforce and an inclusive and equitable work environment.
The report explains Signify’s approach to DE&I, commitments, and progress. The company’s commitments include ensuring all employees receive equitable pay for the same or similar roles, and increasing the percentage of women in leadership positions to 34% by the end of 2025.
The inaugural DE&I report reveals that Signify has achieved gender pay equity, meaning that people throughout the organization are paid equitably for the same or similar work. The company has also made robust progress on its target announced in 2020, to double the proportion of women in leadership positions from 17% in 2019 to 34% by 2025. The percentage of women in leadership at Signify rose to 23% in 2020 and 25% in 2021.
“I am extremely proud that we have achieved gender pay equity, and we recognize that maintaining pay equity in a growing global organization is an ongoing process, requiring constant attention. We will continue with this work, year after year,” said Signify CEO Eric Rondolat. “I am also very pleased to see we’re making strong progress in increasing representation of women in leadership. It is key that we aim for and uphold high standards that reflect our ambitions as an employer and corporate citizen. We know there is still plenty more work to be done on DE&I; we are committed to continuing on this important journey and sharing our progress.”
Increasing representation of women and growing the proportion of early career talents are Signify’s two current global DE&I priorities. The proportion of early career talents increased to 18% in 2021 from 15% in 2020. Women as a percentage of new hires rose to 51% last year from 49% the year before, and as a percentage of the total workforce to 40% from 39%. Hiring women into R&D roles traditionally dominated by men improved to 41% in 2021 from 31% in 2020.
Signify last year appointed its first-ever DE&I director, to accelerate progress on diversity, equity, and inclusion.
Signify’s DE&I approach recognizes that diversity has many facets, with challenges varying across countries. Alongside their work on the global DE&I priorities, local teams are empowered to identify and address the challenges that are most pressing within their specific cultures and geographies, such as ethnicity/race, LGBTQ+, mental health, disability, and cultural diversity.
To read the Diversity, Equity, and Inclusion report, download it from our website.