Diversity, equity, and inclusivity (DEI) in an organization help bring unique prospects and ideas to create more innovative, productive, and resilient enterprises. DEI contributes to equality of opportunity and treatment in the workplace at various stages of the employment relationship, including recruitment, retention, promotion, remuneration, and access to training and skills development.
Over the past three decades, the gender gap in organizations has reduced, attributed to labour mobility worldwide. There has been an increasing global awareness that all workers have a right to a dignified and respectful workplace irrespective of their sexual orientation and ethnicity, which helps to promote an open and inclusive workplace. According to International Labour Organization (ILO), women’s employment declined by 5% globally in 2020 compared with around 4% for men due to disruption by COVID-19.
Banks are reporting diversity and inclusivity to ensure a more equitable and inclusive workplace for all genders and backgrounds. A diverse workforce benefits companies and banks by attracting new customers as people want to do business with institutions that share their values.
Lloyds, Societe Generale, Banco Santander, Credit Agricole, and BNP Paribas are major banks in Europe with a significant women representation in their global workforce.
Lloyds (Lloyds Banking Group) is a provider of a wide range of banking and other financial services primarily in the UK. In 2021, Lloyds reported 57.8% women participation in its workforce, a decrease of 0.1 percentage points over 2020.
Societe Generale is a provider of banking and financial services. Its product offering comprises insurance, accounts, cards, deposits, financing, equities, fixed income and currencies, and alternative investments. In 2021, the company reported 56% women participation in its workforce, a decrease of 0.4 percentage points over 2020. The company has set a goal to have at least 30% women on the strategic committee, the executive committee, and in key positions of the Group.
Banco Santander, a provider of retail and commercial banking, wealth management, and related financial solutions reported 54% women participation in its workforce, an increase of 0.3 percentage points over 2020. By 2025, Banco Santander aims to have 30% of women in senior positions.
In 2021, Credit Agricole and BNP Paribas reported 52.6% and 52% women participation in their workforce, respectively.
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