Two companies here in the Philippines have been recognized by Bloomberg because of their commitment to giving employees gender-inclusive workplaces. The first one acknowledged in the 2020 Bloomberg Gender-Equity Index is Robinsons Land Corp. (RLC), followed by SM Investment Corp. (SMIC). Out of 325 companies, these two are fortunate to have been included in this list. It seems like businesses in our country are not only into business, we are into providing happy workplaces to employees too! I believe this is an ingredient to become a successful firm now that employees are demanding for an engaging work environment. Here are the other details of the news.
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The list of 2020 Bloomberg Gender-Equity Index was released last January 21 and it covered businesses with headquarters in 42 countries and regions around the world. It was also the first time Bloomberg recognized companies in the Philippines, Norway, Czech Republic, Russia, Poland, and New Zealand. SMIC disclosed that it was such an honor to be included in the list and it’s a milestone for them since the firm is really putting importance in fostering an inclusive work environment across its businesses including its supply chain and the communities it serves. Their inclusion in the 2020 GEI is proof of its commitment to gender equality through measurement and data transparency.
The GEI of Bloomberg started in 2016. This is where it records the financial performance of the listed businesses that are working to improve gender equality at work. Bloomberg considers five key pillars for a company to qualify: pro-women brand, female leadership & talent pipeline, sexual harassment policies, equal pay & gender pay parity, and inclusive culture. The qualifications also include the effort of the company to give more in-depth metrics from a wide range of public businesses across different industries. This transparency is helping businesses make financial decisions and support a business case for an inclusive corporate workplace.
Last year, the property segment of SMIC reported an 18% increase on a year-on-year basis or equivalent to P7.6 billion during the third quarter. The revenues rose by 14% to P85 billion as well. The retail business generated a net income of P7.8 billion during the nine-month period, which is 1% lower than last year due to the recent implementation of PFRS 16 or the policies on leases. Without the effect of this implementation, the business segment could have reported an 8% growth. The revenues of SM Retail grew by 12% to P253.9 billion.