For the third year in a row, Philip Morris International finds a place in the Bloomberg Gender Equality Index 2023 (GEI). The company ranks at the top of global leaders committed to transparency in gender performance reporting and to promoting gender equality in the workplace, with an overall score of 80.6%, which is higher than the index average (73%).
"Achieving gender balance at all levels in the company is one of our top priorities and I am very happy that our efforts have once again been recognised in this year's index," said Silke Munster, Chief Diversity Officer at Philip Morris International. "Although we are making significant progress, we are aware that we must not rely on inertia. Maintaining a work environment that harnesses the talents of both men and women is key to realizing our vision of a smoke-free future and to our organization becoming more innovative, agile and engaged."
In 2022, Philip Morris International met its target of at least 40% female representation in management positions and announced a new target of 35% women in senior management positions by the end of 2025. Other company initiatives to achieve gender parity include:
- EQUAL-SALARY Global Equal Pay Certificate (March 2019), and the first company to have its certificate renewed (April 2022), confirming that it provides equal pay for equal work wherever it operates (90+ countries).
- Overcoming gender inequalities in talent assessments-both in recruitment and in employee performance management and career development opportunities.
- Further develop the methods used by companies to measure the results of inclusion measures. Philip Morris International supported the first ever study conducted by IMD in Lausanne, Switzerland and published in 2022 on measuring the outcomes of inclusion measures and refining these measures to achieve greater impact. The company is currently piloting a new method to measure the results of inclusion initiatives.
- Introduce inclusive global guidelines on parental leave (2021).
- Create a women’s self-help group to provide a space where women can be stimulated and empowered to develop their skills, expand their networks and unlock their full potential.
- Respect women’s talents by creating a programme to support women in leadership positions.
Bloomberg’s 2023 GEI includes 485 companies from 45 countries and regions. The GEI is a market capitalization-weighted index that tracks the performance of public companies committed to transparent reporting of gender equality data. It measures gender equality on five parameters: women’s leadership and talent development, equal pay and gender pay equity, inclusive culture, anti-sexual harassment policies and a brand that supports women. Companies that found a place in this year’s index received a score that is equal to or higher than the minimum score set by Bloomberg globally, reflecting the data reported and the implementation and use of top-notch statistical methods and policies.
“We congratulate the companies included in the GEI for 2023,” said Peter T. Grauer, Bloomberg chairman and founder and chairman of the U.S. 30% Club. “We’re seeing growing interest and an increase in membership globally, which speaks to the goal of achieving transparency on gender-related metrics becoming a common goal.”
