At Telefónica we believe in the great transformative power of diversity
Diversity is part of our strategic agenda. It’s one of the key levers in the digitalisation of the Company, and as such is incorporated in our Responsible Business Plan approved by the Board of Directors.
We are convinced that our company must be a natural reflection of our society, and we have the clear goal of promoting and guaranteeing the inclusion of people of different cultures, genders, sexual orientations, generations, capabilities, profiles, experiences, etc.
We believe that diversity is a source of Talent. There isn’t one single type of talent, but rather multiple types of talents. Understanding and taking advantage of all of them is our best competitive advantage because diverse and inclusive teams are more innovative, transformative, and committed, and get better results.
That is why we are decidedly committed to developing a culture and organisational identity of equality, plurality, and inclusiveness.
Diversity is a firm commitment by Management
Our commitment to promoting diversity at a global level has the clear support of management, and materialised in 2016 with the creation of a Diversity Council including top level executives, women and men of different nationalities, disciplines, and provenances. Its purpose is to promote initiatives aimed at consolidating diversity as a key lever towards the digital transformation.
This committee is led by Laura Abasolo, Chief Financial and Strategy Officer, and is represented by a sponsor of each country, which in many cases is the country's own CEO.
In addition, we have Diversity Champions, consisting of leaders from all the areas committed to diversity, which are key as agents of change throughout the entire organisation.
Female talent adds important competencies to a team
The role women play in the company is vital for our society and economic development. The absence of women in companies implies a loss of talent that companies cannot afford.
Women are more than half of the world's workforce and are more trained than men. In addition, in business terms, they have a very relevant role in purchasing decisions (they take three times more purchasing decisions than men).
We know that organisations with a greater presence of women in their governing bodies are more competitive and profitable. Having balanced percentages of men and women in the decision making process makes it possible to have different viewpoints. We all contribute capabilities and approaches that can be diverse in every way.
And proof of our commitment to female talent are the numerous impulse and development initiatives that we currently have underway, among which we can highlight our women's leadership development programs such as Woman in Leadership or Talentia, which encourage networking and make the female talent in our company visible. Or Women's Age, an Open Future initiative that promotes female entrepreneurship, and positions us as a benchmark in female Entrepreneurship.
Nowadays, 38% of our workforce and 23% of our executives are women. We want to have more women making decisions, and we are also aware of the path we have to follow. For this reason we have set the goal of reaching 30% women in management positions in 2020.
And, recognising our efforts and progress in matters of diversity, Telefónica has once again been included in the Bloomberg Gender Equality Index (2019 Bloomberg Gender-Equality Index or GEI), which especially values our diversity and inclusion strategy, and our work-life balance policies.
On the occasion of 8 March, the International Women's Day, we celebrate with different initiatives in our venues events to open the debate on the main challenges and opportunities women are facing today. You can consult the international agenda in the following map.