Diversity, equity, and inclusivity (DEI) in an organization help bring unique perspectives and ideas to create more innovative, productive, and resilient enterprises. It also contributes to equality of opportunity and treatment in the workplace at all stages of the employment relationship, including recruitment, retention, promotion, remuneration, and access to training and skills development.
The gender gap in organizations has narrowed over the past three decades, giving easier labour mobility worldwide. There has also been increasing global awareness regarding the right to a dignified and respectful workplace irrespective of the sexual orientation and ethnicity of the employees, which promotes an open and inclusive workplace. However, labour market disruption due to the COVID-19 has had devastating consequences globally. According to International Labour Organization (ILO), women’s employment declined by 5% globally in 2020 compared with around 4% for men.
DEI is critical to the business performance of the consumer sector, which encompasses retailers and consumer-packaged goods manufacturers, since consumers want to buy goods that reflect their values, wants, and needs. Consumers are expecting more from brands than ever before, and retailers must honor DEI. Understanding the brand, setting DEI commitments from the top, delivering on the commitments, recruiting from diverse pools, and creating a supportive environment can all contribute to DEI.
Ralph Lauren Corp (Ralph Lauren) designs, distributes, and markets premium lifestyle products, including apparel, accessories, footwear, home furnishings, and fragrances. The company’s product portfolio includes men-women and kids’ apparel, leather goods, handbags, footwear, bedding items, furniture, skincare products, and cosmetics. It offers these products under various brand names including Chaps, Club Monaco, Lauren, Pink Pony, Polo, Purple Label, Ralph Lauren, and Ralph, among others.
In the financial year (FY) ending 2022, the company reported 64% women participation in the workforce which remained unchanged over FY2021. The representation of women in senior management (board of directors) increased to 33% by 2 percentage points over FY2021.
In FY2022, the representation of Asian employees of Ralph Lauren in the US workforce was 7%, a decrease of 1 percentage point over FY2021. Black or African American and Hispanic or Latino employees represented 27% and 24% of the US workforce, respectively.
Ralph Lauren has a goal to ensure at least 20% of its Global Leadership team to comprise of underrepresented racial and ethnic groups by FY2023. The company also has an ongoing goal to maintain gender parity with equal representation in leadership positions at the VP level and above.
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