At Schneider Electric we believe that our ambition to be the world’s most diverse, equitable and inclusive organisation will positively impact our people, our company, and the world. We are proactively moving the needle on pay equity, and we recognise that this takes focus and action across many levels.
To that end, we have set a clear target to attain and maintain pay equity at below 1% difference between females and males by 2025. By 2025, globally, we are committed to 50% women in hiring, 40% women in front-line management, 30% women in leadership teams, and 50 million people with access to green electricity.
We promise to reach this target with a unified global approach that addresses and prevents gaps through:
- increased awareness and education for all decision-makers with improved analytics and reporting
- implementing a clear governance model
- integrating pay equity into our performance and salary review processes
- a global standard grouping positions on the basis of job family and level
- comparing the individual salaries to the median salary of a person’s group of the opposite gender.
More specifically, Schneider Electric’s remuneration and reward objectives:
- We treat all employees fairly and equitably.
- We base our rewards on the collective success of our business and continuous improvement.
- Our Rewards Strategy distinctly supports and aligns with our values and culture.
- We proactively identify, reward, and retain key talent.
- We reward competitively within the relevant local market.
- We reward individuals for their achievements on a pay-for-performance basis.
Furthermore, in giving this commitment the utmost deference, we promote gender equity in pay and a variety of other ways through inclusion-centred hiring practices, employee policies and benefits, and the learning and career opportunities that we provide. Inclusion is one of our 6 core values, the others being mastery, purpose, action, curiosity, and teamwork.
Our diversity, equity, and inclusion initiatives have received wide acclaim and awards: most recently, in 2023 Schneider Electric was recognised by the World Economic Forum as a Global Parity Alliance Diversity, Equity and Inclusion (DEI) Lighthouse. Schneider Electric Australia is also proud to have been recognised as an inclusive employer by WORK180 since 2021 and DCA recognition in 2022.
Additionally, Schneider Electric is one of 418 companies across 45 countries and regions to join the 2022 Bloomberg GEI, which measures gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, anti-sexual harassment policies, and pro-women brand. Schneider Electric scored above the overall GEI average, with its highest score in the equal pay and gender pay parity category, where the company scored significantly higher than the global GEI average score.
We are proud that our efforts to date have been, and are expected to continue being, acknowledged by globally and locally recognised authorities supporting people, workplaces, and sustainability. However, we are also bound by a desire for advancement in diversity, equity, and inclusion that sees us continuously striving to do good and be better to achieve the best we can for the people we work with and for.