Reporting allows organizations to reflect on progress and acknowledge performance gaps in relation to their goals.
There are many advantages of internal reporting on gender equality progress, such as:
- Receiving more advantageous resource allocation from senior leadership or Board of Directors to support further integration of gender equality into the business model.2
- Evaluating gender equality efforts in a less formal way with an internal audience to build capacity and support for these initiatives before sharing information publicly.
- Using the information compiled in your organization’s internal report as a strategic business tool (i.e. comparing your diversity and inclusion data to peers, monitoring how gender equality initiatives and practices have contributed to business performance over specific time periods, and identifying areas of improvement and success for future growth).3
In addition, research demonstrates the numerous benefits of external reporting:
- Millennial investors are 65 percent more likely to consider a company’s environmental, social, and governance (ESG) factors, including diversity and inclusion efforts, when making investment decisions.4
- When made aware of a company’s diversity and inclusion practices, customers are more likely to remain loyal. Eighty-seven percent of shoppers said they would pay more for a product from companies that practise gender equality.5
- Investors are increasingly demanding more disclosure on gender from businesses to inform their decision making. This is evident by the growing field of gender lens investing, which includes gender bonds and gender equality exchange-traded funds (ETFs).6 Additionally, companies that report on gender equality and score above a certain threshold can increase shareholder investment and boost their reputation when listed on gender equality or diversity and inclusion indices.7