Schneider Electric Named as a ‘Lighthouse’ in Diversity, Equity & Inclusion by the World Economic Forum

January 18, 2023

Schneider Electric has been named as a Global Parity Alliance Diversity, Equity and Inclusion (DEI) Lighthouse for its Global Pay Equity (GPE) initiative, by the World Economic Forum’s (WEF) Centre for the New Economy and Society.

This award recognizes Schneider Electric’s efforts to promote inclusion and care by advancing pay equity across all its offices. Schneider Electric’s Global Pay Equity initiative began in 2014 with pilots in 12 countries. Since then, it has been implemented in over 100 countries, reaching 99.6% of the company’s total workforce by the end of 2020.

“It’s an honor to be recognized for our ongoing commitment to gender equity. We believe that an inclusive and caring company culture is key for creating a sustainable future. We want to bring a long-term positive impact for our people, our company, and our planet – and that can only be achieved by providing equitable opportunities to everyone, everywhere. We’ve gained a lot of momentum and progress over the years in this area, and we’re determined to continue hardwiring equity and inclusion in all stages of our employees’ experience.” said Charise Le, Schneider Electric’s Chief Human Resources Officer.

Established by the WEF in collaboration with McKinsey & Company, the Global Parity Alliance is a global, cross-industry group of organizations that is working to drive better and faster DEI outcomes by identifying initiatives with proven impact, sharing insights that have been key to their success, and elevating DEI action to CEO level.

Schneider Electric’s Global Pay Equity initiative has enabled year-over-year improvements in the female pay gap, through:

  • A global-local compensation framework: a unified global methodology to address pay gaps, starting with a common definition for “pay gap”, a consistent approach to gap measurement, and a company-wide target; local HR teams were then empowered to define action plans to close gaps based on local market needs and conditions.
  • A compensation review process: set on a quarterly basis at global and local levels to review KPIs and identify emerging gaps; the process also integrated a pay equity adjustment process into annual salary reviews to identify and close gaps.
  • Upskilling for HR compensation teams and department managers: Schneider trained HR professionals and people managers to increase awareness of the impact of gender biases on compensation, and to equip them with the tools they need to make equitable pay decisions throughout the recruitment, promotion, and pay review processes.
  • Data automation: introduced automated data analysis and reporting through its HR Information System to identify pay gaps through accurate tracking of key drivers across the employee life cycle.

Schneider Electric has since expanded its GPE program, setting itself the goal to attain and maintain a pay gap of <1% for all employees, and to achieve a 50:40:30 gender balance (i.e., women should represent 50% of all new hires, 40% of all frontline managers, and 30% of senior leadership) by 2025. The company will also look to implement a pay equity simulator tool to provide broader visibility into pay gap data, to help managers, HR business partners and recruiters make fair offers to potential candidates.

Related resources:

Source

Related Articles


Latest Articles

  • Future-Proofing your Business with Electrical Estimating Software

    Future-Proofing your Business with Electrical Estimating Software

    In today’s construction landscape, it’s crucial for construction business owners to seize every opportunity to future-proof their operations. Building a thriving electrical (or mechanical) contracting company entails more than just acquiring technical skills and setting up a business. Read More…

  • Ontario Drives Monthly Downturn in Residential Sector for March 2024 Building Permits

    Ontario Drives Monthly Downturn in Residential Sector for March 2024 Building Permits

    May 16, 2024 Month over month, the total value of building permits in Canada decreased 11.7% to $10.5 billion in March. Construction intentions in the non-residential component declined 16.7% to $4.0 billion, while the residential sector decreased by 8.3% to $6.5 billion. Declines were observed in all components except for the commercial component. On a constant dollar basis (2017=100), the total… Read More…

  • 25th Edition of the MEET Show Smashes Attendance Records

    25th Edition of the MEET Show Smashes Attendance Records

    May 16, 2024 By Electro-Federation Canada The energy and excitement was palpable at the 2024 edition of the MEET Show at the Moncton Coliseum on May 1 and 2. The biennial Mechanical, Electrical, Electronic, and Technology show – celebrating its 25th year in 2024 – saw record-breaking attendance, welcoming 6,626 industry professionals to one of… Read More…

  • Video: How to Easily Setup and Program Intermatic PE700 Series Wireless Timers

    Video: How to Easily Setup and Program Intermatic PE700 Series Wireless Timers

    May 10, 2024 Dive into the future & discover the ultimate convenience in pool & spa management with this “How to” video guide for setting up & programming the PE700 Series Pool & Spa Wireless Smart Timer, by Intermatic. Whether you are programming the 3-circuit model PE733P or the 2-circuit PE723P, this video is your… Read More…


Changing Scene

  • ECS Re-Certified as Best Managed Platinum Status for 7th Straight Year

    ECS Re-Certified as Best Managed Platinum Status for 7th Straight Year

    May 22, 2024 Electrical Cable Supply (ECS), Canada’s leading, independently owned electrical wire and cable solutions provider, proudly announces its re-certification as a Platinum Club member in Canada’s Best Managed Companies for the seventh consecutive year. This prestigious designation, awarded by Deloitte, recognizes Canadian-owned and managed companies for innovative management, business performance, and sustained growth…. Read More…

  • WOW Lighting and Controls adds Blink Charging to Line Card

    WOW Lighting and Controls adds Blink Charging to Line Card

    May 17, 2024 WOW Lighting and Controls are excited to introduce the newest addition to the Wow Lighting and Controls linecard: Blink Charging Co. Blink Charging Co. (Nasdaq: BLNK) is a global leader in electric vehicle (EV) charging equipment and services, enabling drivers, hosts, and fleets to easily transition to electric transportation through innovative charging solutions. Blink’s… Read More…

  • Join ECABC’s Call for Prompt Payment in BC

    Join ECABC’s Call for Prompt Payment in BC

    May 17, 2024 On Monday, May 6th, ECABC launched a campaign across its social media platforms to create awareness for the need for prompt payment laws in British Columbia, now. Year after year, BC’s lack of prompt payment has been the #1 issue for ECABC’s contractors. Why? Because prompt payment ensures that contractors and subcontractors receive… Read More…

  • ABB Invests in Ndustrial to Accelerate Decarbonization Through AI-Powered Energy Management Technologies

    ABB Invests in Ndustrial to Accelerate Decarbonization Through AI-Powered Energy Management Technologies

    May 17, 2024 ABB today announced a minority investment in Ndustrial, a US-based clean technology startup that has developed a leading-edge, AI-powered energy management platform. This innovative technology enables smarter, production-aware energy decisions in real time, helping customers reduce operating costs, optimize energy consumption and accelerate decarbonization. The investment was made through ABB Ventures. Financial… Read More…