The Workforce Disclosure Initiative Awards 2021 recognises companies for the amount of information they submit and their efforts to promote transparency about the management of their teams. They were launched in 2020 by the WDI (Workforce Disclosure Initiative), a coalition of investors comprising 68 institutions with $10 trillion under management.
Telefónica‘s efforts were acknowledged in the “Supply chain data”, “Workforce action” and “Most transparent” categories and it was the only telecommunications company honoured in these three areas. Besides our company, there were just two other Spanish enterprises: Iberdrola and Inditex.
With regard to supply chain data, at Telefónica we use key indicators (audits, corrective action plans, progress made in reducing carbon emission, etc.) to ensure that our suppliers conduct their activities while applying similar ethical standards to ours.
Workforce action
As regards workforce action, we are developing the skills we need for the future – over 70% of our employees are involved in upskilling and reskilling programmes – while at the same time consolidating our hybrid working model and fostering measures to encourage diversity.
Telefónica’s people management strategy is based on two pillars: the strength of teams and a growth-oriented mindset. To boost them, we are placing emphasis on diverse talent with flexible, agile ways of working and a mindset focused on personal development.
Telefónica’s commitment to transparency is patent in the company’s annual Consolidated Management Report, which we produce in accordance with the leading international reporting standards (GRI, SASB and TCFD). We also publish the Report on Transparency in Communications and measure our impact, while detailing our contribution to the SDGs.
WDI generates information on the workforce practices of companies that investors include in their analysis. In 2021, 173 global companies participated in the initiative, thereby highlighting their commitment to transparency. This represented an increase of 23% compared to 2020.
