Tata Steel recognised as Global Diversity Equity & Inclusion (DEI) Lighthouse 2023 by WEF
Tata Steel recognised as Global Diversity Equity & Inclusion (DEI) Lighthouse 2023 by World Economic Forum
~ The only Indian company to feature in the global list of eight companies ~
~ Recognised for advancing intersectional gender diversity for employees and students through inclusive work policies and recruiting processes, upskilling and sponsorship ~
Mumbai, January 30, 2023: Tata Steel has been recognised as Global Diversity Equity & Inclusion (DEI) Lighthouse 2023 by World Economic Forum (WEF). The Company’s efforts towards improving gender diversity at the workplace have been chosen as one of the eight case studies and have been featured in the Global Parity Alliance: Diversity, Equity and Inclusion Lighthouses 2023 report published to coincide with the World Economic Forum 2023 held in Davos, Switzerland between 16 and 20 January. The insights report builds on the work of the Global Parity Alliance – a cross-industry group committed to advancing DEI around the world – and the associated DEI Lighthouse Programme launched to identify proven, effective DEI initiatives from companies across industries and geographies, organised by WEF’s centre for the New Economy and Society in collaboration with McKinsey and Company. -
T. V. Narendran, CEO & MD, Tata Steel, said: “Developing and nurturing a diverse workforce in the manufacturing sector, particularly in the metals & mining sector, is filled with some unique set of challenges including the cultural and social barriers that we face here. What we have accomplished in terms of diversity in workforce is an outcome of a whole range of systemic initiatives implemented through very effective programmes and solutions. It is also important to acknowledge the role played by our employees and especially the union members who enthusiastically participated and contributed immensely to this ongoing journey. We are both proud and encouraged for being chosen as a success case and for being featured in the Lighthouse Report. We hope the Lighthouses and their stories will inspire employers across the globe to shape the future of workplace.”
The ‘Lighthouse Report’ while highlighting the approach and impact of Tata Steel’s efforts in improving diversity and inclusion (D&I) in the company said: “Tata Steel’s case for change centered around the conviction that in order to achieve their aspiration – to be the most valuable steel organisation in the world with a “future ready” and “pioneering” workforce – they needed to invest in culture as a key enabler. Tata Steel’s leaders identified DEI as a central pillar of that culture because of the importance of diversity and inclusion in fueling innovation.”
The report while acknowledging the particular challenges faced by Tata Steel because it is operating in the mining and manufacturing sector known for being a largely male-dominated workforce, commended the Company’s impact-driven approach to bringing more women and LGBTQIA+ members into its workforce. The launch of the ‘25 by 25’ programme in 2019 aspires to have 25% diverse workforce in Tata Steel by 2025.
Read the Global Parity Alliance: Diversity, Equity and Inclusion Lighthouses 2023 report @ https://www3.weforum.org/docs/WEF_Global_Parity_Alliance_2023.pdf.