Today, L’Oréal USA CEO Frédéric Rozé joins the CEO Action for Diversity & Inclusion™, a growing coalition of 250 CEOs pledging to advance diversity and inclusion within the organizations they lead.
By signing on to this commitment, L’Oréal USA is pledging to take action to cultivate a workplace where diverse perspectives and experiences are welcomed and respected and where employees feel encouraged to discuss diversity and inclusion. The collective of more than 250 signatories have already shared nearly 200 best practices, exchanging tangible learning opportunities and creating collaborative conversations via the initiative’s unified hub, CEOAction.com.
“L’Oréal became the world’s leading beauty company through a profound respect of all differences,” said Frédéric Rozé, President and CEO L’Oréal Americas. “The diversity of beauty in the world is a source of inspiration for us, and the diversity of our workforce is a strategic advantage, driving innovation and fostering creativity. Our commitment to diversity and inclusion is at the heart of our business mission of universalizing beauty.”
Examples of actions L’Oréal USA has taken to champion diversity include, but are not limited to:
- In 2017, L’Oréal demonstrated its commitment to disclosure around gender equality by voluntarily submitting data for Bloomberg’s 2017 Financial Services Gender-Equality Index (BFGEI). This index provides investors and organizations with unique insight into the statistics, policies, product offerings and external engagement driving commitment to building gender-equal workplaces.
- L’Oréal received Equileap’s award for Gender Equality to honor its number one position in Equileap’s 2017 Global Gender Equality Ranking, among over 3,000 companies in 23 countries. The Equileap Ranking makes corporate progress toward gender equality transparent and globally comparable for the first time across all sectors.
- In 2016, L’Oréal achieved a top 20 ranking in Thompson Reuters Diversity & Inclusion Index, among 5,000 companies evaluated worldwide. This index measures relative performance against multiple factors that define diverse and inclusive workplaces.
- In 2016, L’Oréal USA became recertified for its gender equality efforts by EDGE (Economic Dividends for Gender Equality), the leading global assessment methodology and business certification standard for gender equality. In 2014, L’Oréal USA was the first company in the U.S. to receive this certification.
- In the last five years, the company has launched several employee-driven Think Tanks focused on various dimensions of workforce diversity, including the advancement of executive women; the gap in female representation in operations, IT and digital functions; and the recruitment, engagement and retention of men. The percentage of women in executive roles has increased by 10 percent to 46 percent. In 2016, the percentage of new male hires increased by 27 percent. Pay equity averaged within five percent.
- L’Oréal USA is committed to ensuring that its employees reflect the marketplace in which it operates and has diversified its recruitment outreach. Through partnerships with colleges, universities and associations, L’Oréal has been able to recruit talent from diverse ethnic and social origins. As of 2016, approximately 37% of L’Oréal USA employees are people of color, which is above the national average.
- To build awareness and promote the subject of disability, L’Oréal USA created an internal “Breaking the Silence” campaign, which consists of regular communications, workshops, events, community outreach and collaboration with disability organizations. As a result, the representation of employees with disabilities in the company more than doubled within one year.
The CEO Action for Diversity & Inclusion™ coalition will come together for the first-ever 2017 CEO Action for Diversity & Inclusion™ Summit in November. It will be an opportunity for the signatories to act on the commitments within the pledge, share best practices, and look toward developing additional strategies for advancing diversity and inclusion within the workplace.
ABOUT CEO ACTION FOR DIVERSITY & INCLUSION™
CEO Action for Diversity & Inclusion™ is the largest CEO-driven business commitment to advance diversity and inclusion within the workplace. Bringing together more than 250 CEOs of America’s leading organizations, the commitment outlines actions that participating companies pledge to take to cultivate a workplace where diverse perspectives and experiences are welcomed and respected, employees feel comfortable and encouraged to discuss diversity and inclusion, and where best known—and unsuccessful—actions can be shared across organizations. Learn more at CEOAction.com and connect with us on Facebook: CEO Action for Diversity & Inclusion and Twitter: @CEOAction.