As International Women’s Day’s approaches, LGM is taking action to address gender disparities by implementing equal pay policies and establishing a gender-balanced leadership team.
For 2025, LGM set certain KPIs to ensure they remained true to their commitment to DEI and social purpose year-round. These include gender balanced management, gender pay equity (100 per cent parity for all genders in identical roles), fair wages, responsible investing, and increased employee giving back.
They cited a couple of studies and articles, which found that women in the automotive industry still earn less than men on average and make up around a quarter of the dealership workforce. A Deloitte report shows women account for only 27 per cent of the U.S. auto manufacturing workforce, compared to around 47 per cent of the overall labour force.
For some companies, the issue is more than gender equity — it reveals a missed opportunity for innovation, profitability, and growth.
“In fact, if auto companies need more reasons to ramp up their efforts in hiring women and advancing their careers, there is substantial empirical evidence showing a strong correlation between diversity and positive financial performance at the corporate level,” Deloitte said in its May 2019 report.
At the board level, they said having three female board members “acts as a tipping point, resulting in positive median gains in both return on equity and earnings per share.”
