PARIS — L’Oréal was granted Equileap’s top award for gender equality.
The organization, based in Amsterdam and London, placed the world’s largest beauty company first in its global gender equality ranking, which took into account more than 3,000 companies in 23 countries. The decision took into account 19 criteria.
Jean-Claude Le Grand, L’Oréal’s senior vice president of talent development and chief diversity officer, received the award at a ceremony in Amsterdam on Tuesday afternoon.
He said in a statement that the recognition comes after more than “10 years of continuous efforts and a firm conviction that gender equality is a strategic lever to increase wellbeing at work, fuel creativity and innovation, and boost performance and growth.”
“Gender diversity is not only the right thing to do, it is also the smart thing to do, with a significant number of research papers indicating that it tends to lead to higher returns and lower risk,” said Diana van Maasdijk, co-founder and chief executive officer of Equileap. “I hope this recognition encourages L’Oréal and other companies to go further to speed up the achievements of gender equality worldwide.”
At L’Oréal, as of year-end 2016, women comprised 62 percent of company executives, one-third of its executive committee members and 46 percent of its board of director members. Fifty-eight percent of L’Oréal brands were managed by women.
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L’Oréal said it aims to ensure equal job classification and pay for equal skills. In France, the company worked with the national institute for demographic studies to analyze the pay gap since 2007. The gender-based pay gap on a like-for-like basis was equivalent to 3.2 percent in 2015 for management and non-existent for other categories of employees, the company said.
In the past, L’Oréal has also received the Gender Equality European and International Standard certification in 23 countries and The Global Business Certification Standard for Gender Equality certification in seven countries.
Equileap aims to accelerate progress toward workplace gender equality using investments, grants and knowledge.