AVEVA, a global leader in industrial software, driving digital transformation and sustainability, is publishing its first Gender and Ethnicity Pay Gap Report. In addition to reporting on its global gender pay gap for the second year, the company has collated data on race and ethnicity for the first time, starting with employees in the UK and US, two of its largest countries. It is one of only 14 FTSE 100 companies to do so. This is a complex subject and circumstances vary by country, but AVEVA believes it is important to start to address this topic where it can; disclosing and understanding the data is an important step in its journey.
“We are committed to leading progress and being transparent about our plans, which we are demonstrating with our first DEI targets,” says Peter Herweck, CEO of AVEVA.
The company’s global gender pay gap continues to close, and there were improvements in 15 of its largest 20 countries. AVEVA was pleased to achieve such high disclosure rates for its ethnicity pay gap analysis with 84% and 95% of the workforce participating in the UK and US respectively.
AVEVA is committed to creating an inclusive company culture that promotes equity and belonging for its employees and customers. The company has an important opportunity to become an employer of choice for STEM candidates and an inclusive place to work for all employees and future employees from diverse backgrounds.
It is pleased to have set its first Diversity, Equity and Inclusion (DEI) targets focused on gender diversity:
- 50% Women new hires by 2030
- 40% Women managers by 2030
- 30% Women in leadership by 2030
The company is in the process of setting goals and targets for ethnicity/race, disability, sexual orientation, and religion and belief which are aligned to its global strategy to improve other areas of DEI.
Currently, there are no regulatory requirements in the UK to report on ethnicity pay gaps, however, AVEVA believes in data transparency and the value of data to inform strategy and decisions and support current action to make this mandatory in the UK. With respect to hiring, training and promotion practices, it will provide insight to promote equity and belonging, and a workforce that reflects the communities in which it operates. AVEVA is continuing to drive forward its Diversity, Equity, and Inclusion plan to achieve this and looks forward to sharing learnings across its business and with like-minded organizations.
AVEVA was pleased to be recognized for its efforts at the recent Global Equality and Diversity Awards where it won the Transparency Award and secured a commendation in the Inclusive Workplace Award.
Herweck adds, “We believe that AVEVA is enriched by diversity and are making effort to bring about positive change together, ensuring AVEVA is a great place to belong.”