The link between workforce representation and business performance is gaining recognition as a significant aspect.
This emphasis on workforce representation is reinforced by regulatory actions. Governments and regulators are increasingly mandating disclosures on employee demographics, turning workforce representation disclosure from a corporate initiative into a regulatory requirement.
Regulatory Map:
🔹Nasdaq requires companies listed on the Nasdaq’s US exchange to publicly disclose board-level diversity statistics annually using a standardized template and have, or explain why they do not have, diverse directors.
🔹NYSE encourages D&I disclosure and provides listed companies with guidance on how to disclose their D&I metrics in accordance with the GRI Standards.
🔹UK Financial Conduct Authority (FCA), on September 2023, set out proposals to boost diversity on the London Stock Exchange. Listed companies will have to disclose whether women make up at least 40% of the board and whether at least one member of the board is from an ethnic minority.
🔹European Commission proposed a new directive that would require large companies to disclose their D&I metrics and is expected to be finalized in 2023.
🔹Toronto Stock Exchange (TSX) requires listed companies to disclose the number and percentage of women, minorities, and persons with disabilities on the board and within senior management.
🔹Brazilian stock exchange (B3) mandates listed companies to include at least one woman and one individual from an underrepresented group on their board or executive team by 2026.
Utilizing Harmony’s Platform for Workforce Insight
Harmony’s platform systematically records gender and ethnicity representation across various organizational levels, from the board to the wider workforce. Our dataset encompasses approximately 71,000 employers, reflecting 54.5 million employees, enabling comprehensive analysis and benchmarking across industries and regions.
Harmony Analytics serves as a tool for comprehending an organization’s workforce demographics, providing capital owners and companies with the means to benchmark and evaluate representation at all hierarchical levels. For assistance in navigating regulatory changes, feel free to contact the Harmony team.
