General Motors has joined the Gender and Diversity KPI Alliance (GDKA), a newly formed coalition that requires corporations to use a certain set of key performance indicators (KPIs) to measure their own gender and diversity.
All corporations that join the GDKA must agree to track the following performance measures as part of their efforts to measure and improve diversity within their organizations:
1. Percentage of representation on the board
2. Percentage of representation by employee category
3. Pay equality (the ratio of compensation by employee category, i.e. equal pay for equal work)
The GDKA says these three KPIs were developed by the World Economic Forum International Business Council in partnership with the Global Reporting Initiative. The Global Reporting Initiative is a standards organization that helps businesses, governments and other organizations track and communicate their impacts on issues like climate change, human rights and corruption.
“Diversity in all its dimensions — including of thought and experience — creates a stronger workforce and promotes innovative thinking,” Kristen Siemen, GM’s vice president of Sustainable Workplaces and chief sustainability officer, said in a statement. “We are proud to be leading equal representation at the board level and are excited for the day when female and diverse leadership at all levels is the norm.”
“By committing to measuring diversity using these KPIs, corporate leaders are taking the steps necessary to drive change,” added Lorraine Hariton, GDKA co-chair. “These companies serve as role models for others, demonstrating that leadership and accountability start at the top.”
Last year, GM CEO Mary Barra implemented a new inclusion advisory board at the automaker, which is a group of 11 internal and external leaders who work to improve diversity and inclusion within the company. Several women leaders serve on the Inclusion Advisory Board, including McKnight Foundation president Tonya Allen, GM chief diversity, equity and inclusion officer Telva McGruder and Barra herself.
Barra has also said she wants to make GM the “most inclusive company in the world,” in the coming years by promoting race and gender diversity within its upper ranks.
“While we are proud of the role we’ve played in expanding opportunities for women in manufacturing and STEM-related fields, we will build on this and do the hard work required to expand equity and inclusion for other underrepresented groups,” the automaker says on its diversity-focused corporate web page.
Other companies that have already joined the GDKA include Google, Pfizer, American Airlines, Bank of America, Coca-Cola, Lockheed Martin and Citi, among others.
This content was originally published here.