Valeo announced it is stepping up its commitment to gender equality in the workplace by extending its gender equality index to all of its operations worldwide. The initial results will be reported in June 2019.
Based on the calculation method defined by the French government, Valeo scored 83 out of a possible 100 points on the gender equality yardstick. The score reflects Valeo’s pledge to eliminate the gender pay gap and to promote women to key corporate positions.
To take its equal pay policy to the next level, Valeo has decided to extend the index to all its host countries, so as to measure and eliminate any differences in compensation between men and women.
Five criteria have been defined to determine a score that is comparable from one country to another, with a maximum of 100 points:
- The difference in compensation between men and women (from 0 to 40 points).
- The difference in individual pay raises between men and women (from 0 to 20 points).
- The difference in the percentage of men and women promoted (from 0 to 15 points).
- The percentage of women employees receiving pay raises after returning from maternity leave (from 0 to 15 points).
- The percentage of women among the top 10 highest paid employees (from 0 to 10 points).
The index will be calculated in all of Valeo’s plants and offices with more than 500 employees and then consolidated by country for publication in June 2019.
In announcing this new goal, Bruno Guillemet, Valeo’s senior vice president, human resources, commented, “Gender equality is a key aspect of the diversity program, which in turn is one of the pillars of Valeo’s human resources process. Building on the progress made in France, the Group wants to measure the index around the world, so as to define action plans that will drive improvement in gender equality across our business base, because that is one of the prerequisites for creating value for Valeo.”