TX-MARY-KAY/GENDER-GAP
Below is a statement by Julia A. Simon, Chief Legal and Chief Diversity & Inclusion Officer, Mary Kay Inc., on the release of the 2022 World Economic Forum’s Global Gender Gap Report.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220831005218/en/
Julia Simon, Chief Legal Officer and Chief Diversity & Inclusion Officer (Photo Credit: Mary Kay Inc.)
According to a sobering finding from the World Economic Forum’s 2022 Global Gender Gap Report, gender parity is beyond reach in our lifetime. In fact, according to the report, it will take 132 years for gender equality to become a reality and 151 years to close the economic participation and opportunity gender gap. Not a single country from the 146 examined has reached parity.
That’s the bad news.
The good news? There’s still time to change all that. The 2022 findings have shaken me, but they have not deterred me. Nor should they deter you.
Gender equality is a prerequisite not only for human development—but sustainable economic growth. A rich body of data shows that without gender parity it is impossible to reduce poverty, attain food security, address climate impacts, or ensure a more peaceful and inclusive society. Gender parity isn’t a “nice to have.” It’s also not just a perk of developed nations. It is an essential requirement for all countries to develop and prosper.
To mitigate further backsliding, the structural barriers limiting women’s labor market participation, including their re-entry and retention in the workforce following COVID-19, must be addressed. Targeted policies which support women’s talent development in the industries of the future, and which accelerate their advancement to leadership and management positions, are also needed.
The private sector has a critical role to play in addressing gender gaps in the workplace and in developing the pipeline of women for leadership positions. As a company founded by a barrier-breaking businesswoman almost 60 years ago, this is personal to Mary Kay.
In 2019, Mary Kay signed the Women’s Empowerment Principles (WEPs) and in 2021 the company became a Commitment Maker to the Generation Equality Forum Action Coalitions to accelerate progress on gender equality to advance the Sustainable Development Goals.
Mary Kay is participating in the 2022-2023 UN Global Compact Target Gender Equality accelerator programme to continue the implementation of ambitious corporate targets for women’s representation and leadership in the company and in our supply chain. Leading by example and reflecting our belief in increased women’s inclusion, Mary Kay is putting our values and commitments into action:
Women’s Representation and Leadership at Mary Kay (Data from August 2022):
- 62% of our Global Workforce are Women
- 50% of our Executive Team are Women
- 53% of our Vice Presidents and above are Women
- 57% of our Directors and above are Women
- 59% of our Managers and above are Women
- 70% of our Market Leaders are Women
- 60% of our Leaders in our Top 10 Markets are Women
Gender-Responsive Procurement & Supplier Diversity at Mary Kay (U.S. only supply chain data from February 2021):
- 66% of our Procurement Team are Women
- 12% of our Indirect Suppliers are Women, Minority or Veteran-Owned
- 5% of our Direct Suppliers are Women, Minority or Veteran-Owned
Our 10-year Sustainability Strategy, titled Enriching Lives Today for a Sustainable Tomorrow, pursues a holistic approach to advancing gender equality and women’s empowerment with the following key commitments to achieve by 2030:
- Economically empower 5 million women worldwide
- Ensure access to education for 250,000 women and girls globally
- Provide over 10 million women worldwide with gender-based violence support services, and
- Develop a 10-year policy agenda to address women’s rights
Inspired by our mission as an entrepreneurship development company founded by a woman for women, we are committed to advancing women’s entrepreneurship and dismantling the barriers to women’s economic empowerment. We brought this vision to the United Nations in 2019 and, together with 6 UN agencies, we incepted the Women’s Entrepreneurship Accelerator (WEA) to create an enabling ecosystem for women entrepreneurs.
The time to act is now. Sitting on the sidelines and waiting 132 years is simply not an option. The Sustainable Development Impact Meeting on “Advancing Gender Equality”, which takes place in New York this month, is an opportunity for leaders from the public and private sector to identify tools and strategies to close the gender gap. We owe it to future generations to mobilize our efforts to make the transformative changes that are so badly needed for women and girls.
ABOUT MARY KAY
One of the original glass ceiling breakers, Mary Kay Ash founded her dream beauty company in 1963 with one goal: enriching women’s lives. That dream has blossomed into a multibillion-dollar company with millions of independent sales force members in nearly 40 countries. As an entrepreneurship development company, Mary Kay is committed to empowering women on their journey through education, mentorship, advocacy, networking, and innovation. Mary Kay is dedicated to investing in the science behind beauty and manufacturing cutting-edge skincare, color cosmetics, nutritional supplements, and fragrances. Mary Kay believes in enriching lives today for a sustainable tomorrow, partnering with organizations from around the world focusing on promoting business excellence, supporting cancer research, advancing gender equality, protecting survivors of domestic abuse, beautifying our communities, and encouraging children to follow their dreams. Learn more at marykayglobal.com, find us on Facebook, Instagram, and LinkedIn, or follow us on Twitter.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220831005218/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
LIBERTEX29.3.2024 06:26:33 CET | Press release
PAN Finance Names Libertex ‘Global CFD Broker of the Year’
MIDEA-GROUP29.3.2024 02:40:30 CET | Press release
Midea Group releases its first-ever ESG brand story with an unexpected VIP visit highlighting its commitment to sustainability.
NY-DC-ADMINISTRATION28.3.2024 21:15:26 CET | Press release
DC Secretary Announces Annual Determinations Committees Outcome
CA-HTEC/G2-RISK28.3.2024 17:03:32 CET | Press release
Faster Recoveries, Improved Security: HTEC and G2 Risk Solutions Join Forces to Advance Bankruptcy Management
YCVB28.3.2024 16:01:31 CET | Press release
The reopening of the Yokohama Museum of Art adds another innovative and distinctive venue for events in Yokohama
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom