SOURCE: Merck & Co., Inc.DESCRIPTION:
Merck has joined the groundbreaking Gender and Diversity KPI Alliance (GDKA) to support the adoption and use of a set of Key Performance Indicators (KPIs) to measure gender and diversity in their companies and organizations.
GDKA is a group of corporations; diversity, equity, and inclusion (DEI) advocates; academics; and trade organizations that have come together to promote and advance the adoption of these KPIs. The KPIs were developed from the work of the World Economic Forum International Business Council, the Global Reporting Initiative, and other advocates.
"Measurement is a critical component of creating an environment of diversity, equity, and inclusion in workplaces that allow all employees to thrive. You cannot improve what you cannot measure," said Catalyst President and CEO Lorraine Hariton, who co-chairs GDKA. "By committing to measuring diversity using these KPIs, corporate leaders are taking the steps necessary to drive change. These companies serve as role models for others, demonstrating that leadership and accountability start at the top."
By signing on to GDKA, signatory companies commit to using or working to implement three key performance indicators to evaluate diversity in their organization:
- Percentage of representation on an organization's board;
- Percentage of representation by employee category;
- Pay equality: the ratio of compensation by employee category (e.g., equal pay for equal work).
The KPIs focus on the pipeline of women and underrepresented groups moving through the organization, better enabling organizations to track their progress.
"This effort helps organizations gauge their progress over time, which is a critical step toward achieving true corporate diversity," said Working Mother Media President Subha Barry, who co-chairs GDKA. "The GDKA KPIs provide a common way to monitor and track representation and pay equality so that employers can better develop their talent pipelines and create more inclusive cultures to achieve better business performance and more equitable workplaces."
The following companies have signed on to GDKA:
ABB, Accenture, ADP, Ancestry, Aptar, Baker McKenzie, Bank of America, Barilla, Bell Canada, Boston Consulting Group, Boston Scientific, Capital One, Chevron, Citi, City of Edmonton, Dell Technologies, Deloitte, Dentons, Dow, DuPont, Ecolab, EY, Flex, Genpact, Google, Granite Construction, Guardian Life Insurance, Google, H&R Block, Hillrom, Hilti North America, Horizon BCBSNJ, Humana, IKEA Retail (Ingka Group), JPMorgan Chase & Co., Kimberly-Clark, KPMG LLP, McGill University, Medtronic, Merck, Morgan Stanley, Nationwide, Newell Brands, Northwestern Mutual, Pitney Bowes, Pfizer, PwC, Procter & Gamble, Progress Software, Procter & Gamble, Sodexo, TechnipFMC, The Coca-Cola Company, Uber, UPS, Visa, Whirlpool, and Wipro Limited.
KEYWORDS: NYSE:MRK, Merck & Co., KPI Alliance