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Signet Jewelers commits to the Paradigm for Parity® 5-Point Action Plan to advance gender parity in corporate leadership
AKRON, Ohio, July 13, 2021 /PRNewswire/ -- Signet Jewelers (NYSE: SIG) announced today it is joining the Paradigm for Parity® coalition, a movement of business leaders across industries committed to achieving full gender parity in corporate leadership by 2030 — one in which all women and men have equal power, status, and opportunity.
Signet is committing to the Paradigm for Parity® 5-Point Action Plan that includes:
Minimizing or eliminating unconscious bias
Significantly increasing the number of women in senior operating roles
Measuring targets at every level and communicating progress and results regularly
Basing career progress on business results and performance, not on presence
Identifying women of potential and giving them sponsors, as well as mentors
These actions build on Signet's efforts to champion equity and inclusion, as outlined in its Corporate Citizenship and Sustainability Report and support it in achieving its 2030 Corporate Sustainability Goals. Today, women comprise 42 percent of its Board of Directors, 50 percent of the Signet Leadership Team and 40 percent of those holding the title of vice president and above.
"We are intentional about creating a work environment within Signet where women feel respected, included, supported, and positioned for success in both their personal and professional lives. This has been and continues to be an integral part of our overall business transformation plan and key to our values-driven, people-first culture in which we aim to deliver on our Purpose — Inspiring Love. We are proud of what we've achieved together and energized to do more," said Signet Jewelers CEO Virginia C. Drosos. "Our involvement with Paradigm for Parity® and the coalition's 5-Point Action Plan gives us a strong roadmap to build on these efforts to ensure gender equality across our team and within our sphere of influence with our business partners today and into the future."
"The Paradigm for Parity® coalition welcomes Signet to our over 130 committed companies that are working to achieve gender parity in corporate leadership," said Sandra Quince, CEO, Paradigm for Parity®. "When companies put people first and use our Toolkit to implement our 5-Point Action Plan, it catalyzes change and creates cultures to more effectively increase women of all races, cultures and backgrounds in leadership positions. We look forward to working with Signet as they continue to transform the jewelry industry."
Signet's support of Paradigm for Parity® furthers its commitment to its people and to workplace equality. Other recent highlights include:
Raising its minimum wage to $15/hour for all U.S. hourly employees this year
Enhancing and expanding health plan benefits for same sex domestic partners/spouses and expanding the parental leave policy to include parental leave for all genders
Providing Love Takes Care™ Appreciation Awards to full-time and part-time U.S. employees serving customers in stores as they reopened during the COVID-19 pandemic
Providing paid time off for all employees to ensure they could practice their constitutional right to vote in the national election with the #YourVoiceisGold initiative
Deeping its commitment to Diversity, Equity, and Inclusion by adding two new Directors to its Board, increasing the Board's representation of women and persons of color to 58 percent
Becoming Great Place to Work-Certified™, as a result of the company's commitment to its employees
For the third consecutive year, the Bloomberg® Gender Equality Index included Signet, the only specialty retail jeweler to earn that distinction
About Signet Jewelers
Signet Jewelers Limited is the world's largest retailer of diamond jewelry. As a purpose-driven and sustainability-focused company, Signet is a participant in the United Nations Global Compact and adheres to its principles-based approach to responsible business. Signet is a Great Place to Work –Certified™ company and has been named to the Bloomberg Gender-Equality Index for three consecutive years. Signet operates approximately 2,800 stores primarily under the name brands of Kay Jewelers, Zales, Jared, H. Samuel, Ernest Jones, Peoples, Piercing Pagoda, and JamesAllen.com and the jewelry subscription service, Rocksbox. Further information on Signet is available at www.signetjewelers.com. See also www.kay.com, www.zales.com, www.jared.com, www.hsamuel.co.uk, www.ernestjones.co.uk, www.peoplesjewellers.com, www.pagoda.com, www.rocksbox.com and www.jamesallen.com.
About the Paradigm for Parity® Movement
The Paradigm for Parity® coalition is comprised of CEOs, senior executives, founders, board members and business academics who are committed to achieving a new norm in corporate leadership: one in which women and men have equal power, status, and opportunity.
The coalition created the Paradigm for Parity® 5-Point Action Plan for corporations to accelerate the pace of gender equity in senior executive roles. This unique agenda defines bold and specific actions that, taken together and simultaneously implemented as a package, will catalyze change and enable today's business executives to secure the best leaders of tomorrow. Visit www.paradigm4parity.com or follow it on Twitter using @p4parity to learn more about this exciting initiative.
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SOURCE Signet Jewelers Ltd.