Signet Jewelers announced that it is joining the Paradigm for Parity coalition, a movement of business leaders across industries committed to achieving full gender parity in corporate leadership by 2030 — one in which all women and men have equal power, status, and opportunity.
Signet is committing to the Paradigm for Parity 5-Point Action Plan that includes: minimizing or eliminating unconscious bias; significantly increasing the number of women in senior operating roles; measuring targets at every level and communicating progress and results regularly; basing career progress on business results and performance rather than on presence and identifying women of potential and giving them sponsors and mentors.
These actions build on Signet’s efforts to champion equity and inclusion, as outlined in its Corporate Citizenship and Sustainability Report and support it in achieving its 2030 Corporate Sustainability Goals. Today, women comprise 42% of its Board of Directors, 50% of the Signet Leadership Team and 40% of those holding the title of vice president and above.
“We are intentional about creating a work environment within Signet where women feel respected, included, supported and positioned for success in both their personal and professional lives. This has been and continues to be an integral part of our overall business transformation plan and key to our values-driven, people-first culture in which we aim to deliver on our Purpose — Inspiring Love. We are proud of what we’ve achieved together and energized to do more,” said Signet Jewelers CEO Virginia C. Drosos. “Our involvement with Paradigm for Parity and the coalition’s 5-Point Action Plan gives us a strong roadmap to build on these efforts to ensure gender equality across our team and within our sphere of influence with our business partners today and into the future.”
“The Paradigm for Parity coalition welcomes Signet to our over 130 committed companies that are working to achieve gender parity in corporate leadership,” said Sandra Quince, CEO, Paradigm for Parity. “When companies put people first and use our Toolkit to implement our 5-Point Action Plan, it catalyzes change and creates cultures to more effectively increase women of all races, cultures and backgrounds in leadership positions. We look forward to working with Signet as they continue to transform the jewelry industry.”
Signet’s support of Paradigm for Parity® furthers its commitment to its people and to workplace equality. Other recent highlights include: raising its minimum wage to $15/hour for all U.S. hourly based employees this year; enhancing and expanding health plan benefits for same sex domestic partners/spouses and expanding the parental leave policy to include parental leave for all genders; providing Love Takes Care Appreciation awards to full-time and part-time U.S. employees serving customers in stores as they reopened during the COVID-19 pandmic; providing paid time off for all employees to ensure they could practice their constitutional right to vote in the national election with the #YourVoiceIsGold initiative; deepening its commitment to diversity, equity and inclusion by adding two new directors to its board, increasing the board’s representation of women and people of color to 58%; becoming Great Place to Work-certified as a result of the company’s commitment to its employees and, for the third consecutive year, the Bloomberg Gender Equality Index included Signet, the only specialty retail jeweler to earn that distinction.